Delayed 1099 Form

 

As in past years, National Financial Services LLC (NFS) has applied for and received a mailing extension from the IRS that will permit the generation of some non-retirement 1099 tax documents after February 15, but no later than March 16. 

Capital Wealth Management and Commonwealth Financial Network do not make this decision, but the reasoning behind it is to limit the number of corrected forms typically mailed each year. 

NFS makes every effort to issue your tax form by the February 15 IRS mailing deadline, but not all issuers send final information to NFS in time to meet the standard IRS mailing date. The use of the extension helps ensure that the tax form you receive is accurate and should help minimize the need to send you a corrected form, reducing any potential amendments to your tax return. NFS will post and mail consolidated 1099 tax forms in four waves, outlined in the table below.

The dates below are online posting dates (i.e., the dates that your tax form will be made available online in Investor360°®). If you are enrolled in e-notification, you will receive an e-mail notifying you that your tax forms are ready to view. If you are not enrolled in e-notification, your form will be mailed within five business days of online posting.

Please note: In instances when tax reporting for an account occurs during the extension period, NFS will provide an online preliminary tax statement starting on February 16. This is viewable only online, in Investor360°, and will provide a single view of current tax information to assist you in determining early tax liability.

Tax Forms

Description

Available Online

(on or before)*

Retirement Tax
Forms 5498

Year-end market values of contributions to
retirement accounts

01/18/2019

Retirement
Tax Forms 1099-R

Distributions from retirement accounts

01/18/2019

Consolidated 1099s:
1st Mailing

Non-retirement accounts with holdings whose income doesn’t require reclassification or additional information from issuers (Generally, this includes accounts holding options, certain equities, and fixed income securities.)

01/26/2019

Consolidated 1099s:
2nd Mailing

Equities and fixed income securities, closed-end funds, and non-Fidelity mutual funds where issuer provided final tax information after 1st mailing; 2nd mailing includes information-only 1099s issued for exempt accounts, including nonprototype and corporate accounts

02/16/2019

1099: Info-Only
(Corporate and
Nonprototype Accounts)

Supplemental tax reporting information for corporate and eligible exempt accounts; details aren’t reported to IRS

02/16/2019

1099: Preliminary
Tax Statements

Point-in-time snapshot of reporting activity for customers slated for a later mailing; includes symbols/CUSIPs for positions that lack final tax information as of February 17, 2018. This is online only, is not reported to the IRS, and should not be used for tax reporting purposes.

02/16/2019
(online only)

Consolidated 1099s:
3rd Mailing

Accounts holding unit investment and real estate investment trusts (UITs and REITs)

03/02/2019

Consolidated 1099s:
4th Mailing

Accounts holding UITs and REITs for which final tax information was delayed from issuer and mortgage-backed securities for which final tax information has been received from issuer

03/08/2019

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