We've had a lot of inquiries about tax documentation. Carriers and custodians have mailed some tax documents already, but it is important to note that some accounts will not generate the required forms for another week or so. This primarily applies to non-qualified investment accounts. For example, TD Ameritrade has noted that Form 1099 may not be accessible until as late as February 13th depending on the positions held within an account. It depends on when the positions/funds in the account finalize their interest and dividend distributions. Most insurance companies and banks have already sent tax documents, so those should hopefully be received by the end of this week. 

For our clients - if you are still missing tax documents after the end of next week or have questions about how to access them, then please let us know and we'll be sure you get everything you need to complete your tax filings in a timely manner. 

It is also worth noting that Form 5498 (showing contributions to IRA plans) is not required to be sent out until May, so if you made a contribution, rollover, or transfer to a new IRA during 2018, then you will simply need to tell your tax preparer, as you may not receive physical documentation showing this until after the tax filing deadline. People often worry, because they receive a Form 1099 showing a distribution from a qualified account, but don't have another form to show it going into the new account. If you completed a direct rollover or direct transfer, then this should be indicated on your Form 1099 in Box 2. Form 5498 is filed directly with the IRS from the custodian by May 31st, so it isn't technically required to complete your filing. 

Until Next Month,

  James D. Stillman