Retirement Plan Administrators Need to Look for Missing Participants
An article authored by Verrill Dana attorney Ken Ginder entitled "Retirement Plan Administrators Need to Look for Missing Participants" was recently published by the website Employee Benefit Adviser. In the article, Ken discusses a recent IRS Field Memorandumwhich provides guidance to IRS examiners conducting RMD audits.
Ken explains that the Field Memorandum also provides retirement plan administrators with helpful guidance on satisfying RMD rules for missing participants. Although the Field Memorandum does not have the force of law, Ken nonetheless states that retirement plan administrators should consider formalizing the practical guidance outlined by the Field Memorandum.