13-63-22. Account distributions to be reported as required by federal law.
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/sd/title-13/chapter-13-63/13-63-22·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If there is any distribution from an account to any person or for the benefit of any person during a calendar year, the distribution shall be reported to the Internal Revenue Service and the account owner or the designated beneficiary to the extent required by federal law.