Understanding and Using RMD Tracking

Learning Team

Overview

Helping clients meet their required minimum distribution (RMD) obligations is a critical part of managing retirement assets. Once a client turns 73, they must take distributions from their traditional IRA, SEP IRA, SIMPLE IRA, and retirement plan accounts each calendar year. Missing these obligations can expose clients to significant tax penalties, making proactive monitoring an essential part of your advisory practice.

Practifi's RMD tracking feature gives your firm a structured way to monitor eligibility, set distribution targets, track year-to-date fulfillment, and alert team members at the right moments throughout the year. This article explains how the feature works and how to configure it for your organization. If you have questions about enablement, contact your firm’s Customer Success Manager.

Enabling RMD Tracking
RMD Eligibility
RMD Target Setting
Target Fulfillment Tracking
Integration Notes
RMD Reminders
Enabling RMD Tracking and Reminders
RMD Tiles
RMD Reporting
Tracking RMDs in the Rulebook
- Add a Custom Field
- Create a Rulebook Rule
Importing RMD Records
Customization Considerations

Enabling RMD Tracking

RMD tracking is powered by two background Apex jobs — one daily and one annual — that evaluate eligibility and update records across your organization. Before your team can access RMD tracking data, these jobs must be enabled. To request enablement, your firm’s administrator should contact Practifi Support.

RMD Eligibility

Practifi automatically evaluates RMD eligibility using data already in your organization. Understanding how this logic works helps ensure your records are structured correctly before enabling the feature.

The Asset Role record is the critical connector in the RMD engine. It links a Contact to a retirement-category Asset, which enables Practifi to detect eligibility, calculate remaining distribution amounts, and surface alerts. Without a correctly configured Asset Role, the eligibility fields on the Contact will not populate, and downstream tracking will not function.

The RMDs Begin On field, located on Individual and Contact records, tracks the first day of the year in which that person turns 73 — the point at which RMD obligations begin. The field will populate automatically only if at least one of the following criteria is met:

The person is an Individual Client with one or more Assets whose Category is Retirement Account, or they have a defined Source.
They are the Primary Member of a Household or Organization record that has one or more Assets, as described above.
They are a member of a Household or Organization and hold a percentage of ownership in one or more Assets as described above, based on defined Asset Roles.

The RMD Active field on Assets is a checkbox that Practifi enables automatically when all of the following criteria are met:

One or more people related to the record, either via an Asset/Liability Role or as the Primary Member of the Entity, have an RMDs Begin On date set to today or a date in the past.
The record type is Asset.
The Category is Retirement Account, or its related Financial Product has a record type of Retirement Plan.

RMD Target Setting

At the start of a calendar year, the present values of eligible accounts are used to calculate the amount of the distribution to be made that year. Practifi does not calculate these values; the process is typically handled by the custodian who retains the account, and the target amounts are provided in CSV or other file format.

Once you have the target values, they can be uploaded to the Required Minimum Distribution field on the Asset object in Practifi using a tool such as Salesforce Inspector Reloaded or Salesforce Data Loader, with account numbers serving as unique identifiers to map targets to the correct accounts. If you need assistance with the import process, contact Practifi Support.

Target Fulfillment Tracking

Once targets are in place, Practifi tracks progress automatically. The Withdrawals YTD field on Asset records reflects the year-to-date value of withdrawals made from the account. As withdrawals are recorded, Practifi calculates the amount remaining using a simple formula: Required Minimum Distribution minus Withdrawals YTD. When that remaining amount reaches zero, Practifi automatically sets the RMDs Completed Date on the Contact to record when the obligation was met.

Because RMD obligations are assessed in aggregate rather than account-by-account, withdrawal values and RMD targets are rolled up from Asset Roles to Contact and Individual records via Declarative Lookup Rollup Summaries (DLRS). This gives advisors a single location to see how much of a client’s total obligation has been met and how much remains — which is particularly useful given that clients often hold multiple eligible accounts.

At the end of the year, that year’s data moves from the This Year’s RMDs field section to an equivalent Last Year’s RMDs section, managed by a scheduled annual Apex job. This preserves recent fulfillment history for review while resetting the current-year tracking.

The level of automation your firm experiences in keeping Withdrawals YTD current depends on the integration of your portfolio management system. See the Integration Notes section below for details.

Integration Notes

The RMD engine is built on the Asset/Liability object in Practifi. Whether RMD data syncs automatically or requires manual entry depends on which portfolio management system your firm uses. The table below summarizes what is automated and what requires manual input for each supported integration.

Integration	Eligibility Auto-Detection	Withdrawals YTD	RMD Target Amount
Tamarac	Automatic	Automatic (daily sync)	Manual (entered once per year)
Black Diamond	Automatic	Manual	Manual
Orion	Automatic	Manual	Manual
Addepar	Automatic	Manual	Manual
Envestnet	Automatic	Manual	Manual
No integration	Automatic (once Asset Role is configured)	Manual	Manual

For Tamarac users, the RMD engine operates closest to fully automated: assets sync directly to the Asset/Liability object, and Withdrawals YTD maps automatically as part of the daily sync. The only manual input required is the RMD target amount itself, entered once per year.

For Black Diamond, Orion, Addepar, and Envestnet, eligibility detection is automatic, but both the RMD target amount and Withdrawals YTD require manual entry. Without those entries, the downstream tracking, completion flags, and alerts will not function.

For firms using Schwab or Fidelity, RMD data is stored in those integrations’ managed package objects rather than in the Asset/Liability object. As a result, the native RMD engine does not pick it up automatically. Please contact Practifi Support before attempting to configure RMD tracking if your firm uses either of these custodians.

RMD Reminders

Practifi supports configurable reminders at several key points in the RMD cycle, across multiple notification types. This gives your firm the ability to engage the right people at the right time — whether that means notifying an advisor when a client’s RMDs begin, alerting the team when targets haven’t been entered, or creating tasks as the year-end deadline approaches.

The table below summarizes the available reminder types and when they can be triggered. Where a ? appears, the value is configurable to suit your firm’s needs.

Enabling RMD Tracking and Reminders

RMD tracking and reminders are configured from the Additional Features page in the Settings app.

To access the Settings app, click the App Launcher in the upper left-hand corner and click Settings.
Click the caret in the Navigation Menu, then select Additional Features.
Click the Assign Users button next to RMD Management to add the appropriate users and groups. Enabling the feature makes RMD fields appear on relevant record pages and adds tiles to users’ home screens.

Once the feature is enabled, use the Feature Settings table on the same page to turn on individual alerts and reminders and configure them to match your firm’s workflow.

RMD Tiles

When RMD tracking is enabled, three tile types appear in the My Alerts & Exceptions row on the home screen, giving advisors, service teams, and compliance staff an at-a-glance view of where things stand without leaving their dashboard.

The table below describes each tile and the criteria that determine which records it surfaces:

Name	Assigned Apps	Criteria
Assets with missing RMD targets	Advisor, Client Service, Team Member	All Assets related to Entities where I am the record owner or a member of the Servicing Team, where RMD Active is true and Required Minimum Distribution is null.
Assets with missing RMD targets	Compliance	All Assets where RMD Active is true and Required Minimum Distribution is null.
People with outstanding RMDs	Advisor, Client Service, Team Member	All People who either are themselves or are related to Entities where I am the record owner or a member of the Servicing Team, where RMDs Begin On is either today or in the past and RMD Completed Date is null.
People with outstanding RMDs	Compliance	All People where RMDs Begin On is either today or in the past, and RMD Completed Date is null.
People whose RMDs began this year	Advisor, Client Service, Team Member	All People who either are themselves or are related to Entities where I am the record owner or a member of the Servicing Team, where RMDs Begin On occurs in this calendar year.
People whose RMDs began this year	Compliance	All People where RMDs Begin On occurs in this calendar year.

RMD Reporting

A set of pre-built reports is available in the RMD Reports folder within your organization, supporting ad-hoc review of RMD status across your client base. These reports give advisors and compliance teams the information they need to identify gaps, monitor year-end progress, and review prior-year outcomes — without building reports from scratch.

Please note: This report folder is not shared with anyone by default; however, System Administrators can share it with selected users and groups as part of enablement.

Name	Description	Criteria
Missed RMDs LY by Advisor & Segment	Whose RMD commitments weren’t met last year? Includes a stacked column chart summarizing missed RMDs by Advisor & Client Segment.	All People where: RMDs Begin On is set to a date occurring in the previous calendar year or earlier RMD Completed Date Last Year is null
Outstanding RMDs TY by Advisor & Segment	Whose RMD commitments haven’t yet been met this year? Includes a stacked column chart summarizing outstanding RMDs by Advisor & Client Segment.	All People where: RMDs Begin On is set to a date occurring in this calendar year or earlier RMD Completed Date is null
RMDs Begining TY by Advisor & Segment	Who needs to worry about RMDs for the first time this year? Includes a stacked column chart summarizing new RMDs by Advisor & Client Segment.	All People where: RMDs Begin On is set to a date occurring in this calendar year
Assets With Missing RMD Targets	Which accounts should have RMD targets, but don’t? Includes a stacked column chart summarizing outstanding accounts by Advisor & Client Segment.	All Assets where: RMD Active is true Required Minimum Distribution is null

Tracking RMDs in the Rulebook

If the built-in reminders on the Additional Features page don’t fully cover your firm’s workflow, you can create rules in the Rulebook to trigger alerts or tasks at specific points in the RMD timeline. For example, you can automatically create a templated task 30 days before a client turns 73.

To set this up, you will need two things: a custom formula field on the Contact object that calculates each contact’s 73rd birthday, and a time-based Rulebook rule that references that field.

Add a Custom Field

To set up a Rulebook rule for RMD tracking, you will first need a custom formula field on the Contact object that calculates the date of the contact’s 73rd birthday. You can either contact Practifi Support to ask them to add this field to your organization, or create it yourself.

To add a custom field on the Contact object:

Click the gear icon and select Setup from the drop-down menu.
In Setup, click the Object Manager tab next to the Home button.
Use the Quick Find box to search for contact, then click the hyperlinked label for Contact.
Click the Fields & Relationships tab on the left-hand side of the screen.
On the Fields & Relationships screen, click New.
On the New Custom Field screen, select the Formula radio button and click Next.
In the Field Label field, enter Date Client Turns 73 and click Tab. The Field Name field will automatically populate.
Under Formula Return Type, click Date, then click Next.
On the Enter Formula screen, paste the following formula into the text box:
```
DATE(YEAR(Birthdate) + 73, MONTH(Birthdate), DAY(Birthdate))
```
Click the Check Syntax button to verify the formula for errors.
Optionally, fill out the Description and Help Text fields.
Click Next, then click Next again.
On the Add to Page Layouts screen, determine whether you want to add the new field to any page layouts, then click Save.
Back on the Fields & Relationships screen, use the Quick Find search to search for Date Client Turns 73.
Copy the API name from the Field Name field. You will need this to build the Rulebook rule.

Create a Rulebook Rule

To create a Rulebook rule for RMDs:

Click the App Launcher and click the Settings app.
In the Settings app, click the Navigation menu and select the Rulebook page.
On the Rulebook page, click New.
On the New Rule Criteria screen, enter a name for the rule.
Click the Status drop-down field and select Active.
Optionally, enter a description for the rule.
Click the Use time-based execution checkbox.
In the Object field, enter Contact.
Click the Execute based on drop-down field and select Days before the target field’s date.
In the Number of Days field, enter a whole number (e.g., 30).
In the Target Field field, paste the API name of the custom date field referenced in the previous section.
Click Save.
On the new Rule Criteria record, click the Record Criteria tab.
To limit this rule to Client records only, click into the Resource field and select Record Field > $Record.
On the next screen, search for and select Primary Entity Stage.
Click Insert.
Click the Operator drop-down field and select Equals.
Confirm that the Value Type field is set to Static Value.
In the Value field, enter Client.
Click Save.
Please note: If you want this rule to apply to prospects as well as clients, click the Take Action When drop-down field and select Any Condition is Met, then click + Add Condition and repeat Steps 14-18 and set the value to Prospect.
To add actions to the rule, click the caret in the Rule Actions area and select New.

For more information on creating rule-based actions, please see Using the Rulebook.

Importing RMD Records

Depending on your organization’s available integrations, RMD records may or may not sync from the connected custodians. For firms that do not receive all relevant distribution data, please review our articles on Using Data Upload Templates and Using Salesforce Inspector Reloaded to identify the appropriate RMD templates to complete regular data uploads of the records needed to use the RMD features within Practifi.

Customization Considerations

This feature has modified the following items. If your firm has customized them, you’ll need to either copy the changes into your customized version or switch to the default version and redo your changes.

Apps
- Settings
Lightning pages
- Asset/Liability Record Page
- Asset/Liability Role Record Page
- Service Record Page
Page layouts
- Contact Layout
- Individual Client Layout
Tile row
- Advisor, Client Service, Compliance & Team Member - My Alerts & Exceptions

	Create a Task	Post to Noticeboard	Send a Notification	Start a Process
Options	Choose a Task Template	Set the Alert Level, Archive Date Interval and write the Post	Set the Subject and Body and define who receives it	Choose a Process Type
When a person’s RMDs begin at the start of the calendar year
When a person has outstanding RMDs ? days before the end of the calendar year
When a person’s RMD targets need to be entered at the start of the calendar year
When an asset is missing an RMD target ? days after the start of the calendar year