Question for my fellow admins.
I know that 10% withholding is required on RMDs, but in practice do you withhold 10% unless the participant completes a W-4P, or do you process the RMD with no withholding unless the participant tells you otherwise?
The recordkeeper charges distribution fees to participants that is deducted before taxes are withheld. If the recordkeeper is charging an ACH or overnight delivery fee, shouldn't that fee also be deducted before taxes are withheld? Is there a citing I can refer to?