Not automatically — and that's where a lot of people get into trouble.
Your accountant, custodian, and broker may each play a role. But none of them is required to calculate your Required Minimum Distribution (RMD) for you. Understanding who does what — and what stays on you — is the difference between a smooth year and a costly missed distribution.
Quick answer: Your custodian may send you a calculation estimate, but it only sees its own accounts and isn't required to be comprehensive. Your accountant can verify or calculate your RMD, but they need you to bring the numbers. Nobody has the full picture unless you do. The SimpleRMD calculator lets you aggregate all your accounts in one place — free, no signup.
On this page
- What your custodian does
- What your accountant or CPA does
- What your financial advisor or broker does
- What you're responsible for regardless
- A worked example: when the handoff breaks down
- The safe approach
- Common questions
What Your Custodian Does
Your custodian — Fidelity, Schwab, Vanguard, or wherever your IRA is held — is required by law to notify you of your RMD by January 31 each year, or offer to calculate it for you.
That notice is a starting point, not the final word.
It only covers what they hold. If you have IRAs at multiple institutions, each custodian sees only its own account. No single notice reflects your full picture.
It may use the wrong table. Most custodian estimates default to the Uniform Lifetime Table. If your sole beneficiary is a spouse more than 10 years younger, you may qualify for the Joint Life Table — which produces a lower RMD. Your custodian can't apply that without knowing your spouse's age. Confirm with them directly, or calculate it separately.
Automatic distributions still need to be verified. If you've opted into automatic RMDs, confirm the amount and schedule each year before the distribution goes out.
What Your Accountant Does
Many CPAs calculate RMDs as part of tax preparation — but the timing works against you.
Tax prep typically happens in February through April. Your RMD deadline was December 31. By the time your accountant sees your return, it's too late to fix a missed distribution without a penalty.
They can verify, not replace. Your accountant can confirm you took the right amount and flag any issues. But they're working from what you give them — if you forget to mention a small IRA at a former employer, they'll calculate based on incomplete information.
Proactive help is possible — but you have to ask. Some CPAs do early-year RMD planning for clients with complex situations. That's a service you'd need to request. It doesn't happen automatically.
What Your Financial Advisor Does
This varies the most of the three.
For managed accounts, your advisor may handle it entirely. Many full-service advisors calculate your RMD, confirm it with you, and execute the distribution — that's part of what you're paying for.
For brokerage relationships, ask explicitly. Some reps track this proactively. Others respond when you call, but don't initiate. Don't assume — confirm what their practice is.
Even so, the responsibility stays with you. If an advisor miscalculates and you miss an RMD, the IRS holds the account owner responsible. You may have recourse, but the penalty is yours until it's resolved.
What You're Responsible For Regardless
No matter who else is involved, a few things always fall on the account owner.
Knowing your complete picture. Only you know exactly how many IRAs you hold and where. Accounts from old jobs, small rollover IRAs, accounts held jointly — pull all of it together.
Aggregating across accounts. For Traditional, Rollover, SEP, and SIMPLE IRAs, you can take your total RMD from any combination of accounts. But you need the total first — and no single custodian can give you that.
Confirming the distribution cleared. Check in late November or early December to make sure each scheduled distribution has posted. Processing delays happen. Don't assume.
Documenting beneficiary details. If your sole beneficiary is a spouse more than 10 years younger, that affects which IRS table applies. Make sure your custodian or advisor has that on file — and verify they're using it.
First RMD? You may have extra time. If this is your first RMD year — the year you turn 73 — you can delay that first distribution until April 1 of the following year. Every RMD after that must be taken by December 31. See first-year RMD rules \u2192
A Worked Example: When the Handoff Breaks Down
Margaret is 76. She has two Traditional IRAs — one at Fidelity with a prior year-end balance of $310,000, and one at Vanguard with a balance of $85,000.
Her total RMD for the year, calculated on the aggregated balance of $395,000, is $17,288 (using the Uniform Lifetime Table factor of 22.9 at age 76).
What Margaret should have done: In January, after receiving both year-end statements, run a single aggregated calculation — then decide which account to take the full distribution from, or how to split it.
What Margaret actually did: She let each custodian handle its own account. Fidelity sent a notice for $13,565. Vanguard's automatic distribution was supposed to cover the rest.
In December, she calls Vanguard to confirm. The automatic distribution was tied to an old account number from a rollover years ago — it was deactivated quietly. Nothing has gone out.
She has three business days until December 31. The $3,723 shortfall is subject to a 25% excise tax — roughly $930 — if she can't get it processed in time.
The lesson: Each custodian saw one account. Nobody saw the full picture. That's always the owner's job.
The Safe Approach
Four-step RMD checklist: gather balances, calculate total, verify with custodian, confirm distribution.
In January or February, once year-end statements arrive, run your own aggregated RMD calculation. The SimpleRMD calculator handles multiple accounts and applies the correct table based on your inputs — free, no account required.
Cross-check against custodian notices. If the numbers match, great. If they don't, find out why before any distribution goes out.
Confirm beneficiary details are on file. If you have a spouse more than 10 years younger as your sole beneficiary, tell your custodian. Ask whether they can apply the Joint Life Table or whether you need to calculate and request the distribution manually.
Coordinate with your accountant early. If you want CPA input on timing or amount, share your account balances in October or November — not at tax time.
Verify in late November. Log into each account and confirm distributions have posted or are scheduled with enough processing time before December 31.
Common Questions
Can my accountant be held responsible if I miss an RMD?
No. The IRS holds the account owner responsible for taking the correct RMD by the deadline. Your accountant may be able to help you file for a penalty waiver — but the obligation, and any resulting penalty, belong to you.
What if my custodian sends me a number and I just take it?
If you have only one IRA at one institution and no unusual circumstances, the custodian estimate is usually correct. But if you have multiple accounts, a much-younger spouse, or any non-standard situation — verify it independently before relying on that number.
Does my custodian notify the IRS?
Yes. Custodians report RMD information to the IRS on Form 5498 and report distributions taken on Form 1099-R. The IRS can see what was required and what was taken.
What to do next
- Run the calculator \u2192 — calculate your aggregated RMD across all accounts, free, no signup
- Is this calculator accurate? \u2192 — how SimpleRMD validates against IRS tables
- How to take an RMD \u2192 — the step-by-step process from calculation to confirmation
- First-year RMD rules \u2192 — if this is your first RMD year
- RMD deadlines and penalties \u2192 — what happens if a distribution is missed
- Back to RMD basics \u2192
This page is for informational purposes only and does not constitute tax, legal, or financial advice. IRS rules are subject to change. Consult a qualified tax professional for guidance specific to your situation. Rules confirmed current as of April 2026 per IRS Publication 590-B (2025).