16. Which of the following is true regarding minimum distribution rules?

A. If the employee owns more than 10 percent of the company, deferral to the actual retirement date is not permitted.

B. Minimum distributions must be cashed out by the employee and spent.

C. If the annual distribution is less than the minimum amount required, there is a penalty of 20 percent of the amount not distributed.

D. Code Section 401(a)(9) requires plan distributions begin no later than April 1 of the calendar year following the later of the year in which the employee attains age 70 12 or the year of actual retirement.