Account distributions to be reported as required by federal law

SDCL § 13-63-22 — under HIGHER EDUCATION SAVINGS PLAN.

SDCL § 13-63-22

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. Source: SL 2001, ch 97 , § 22.