Dear Valued Client, 

The 1099 tax forms for your investment accounts will be available soon. Both Schwab and SEI have started sending the tax documents and they plan to send all of them by the end of February. If your accounts were moved to SEI during 2025, you will receive 1099’s from both Schwab and SEI for accounts that had taxable activity at both companies.

You can retrieve the tax documents on the client websites for both Schwab and SEI. On the Schwab website (client.schwab.com), click on “Statements & Tax Forms” under the Accounts tab. On the SEI website (sei-connect.com), click on “SEI Tax Documents” under the Files tab. They will also be mailed to you unless you have set your delivery preferences to paperless.

Please be advised that any Schwab 1099-R for Traditional IRA accounts will reflect all distributions, including qualified charitable distributions (QCD’s) and amounts converted to Roth IRA’s. The QCD’s are likely not taxable but your tax preparer will need to be notified of this amount to not include as taxable income on your tax return. Your tax preparer should also be notified of any amounts converted to a Roth IRA from a non-deductible IRA which could reduce the taxable amount.

Please also note that SEI has started documenting QCD’s on 1099-R documents by including a “Y” code in Box 7 to indicate a non-taxable QCD. For IRA accounts with both regular distributions and qualified charitable distributions, SEI will produce two separate 1099-R documents. One will show the regular taxable distributions and one will show the charitable distributions with the “Y” code.

Please be aware that corrections sometimes need to be made to the 1099’s after the originals have been sent. To avoid the risk of having to file an amended return, it might be wise to wait on filing your taxes until most corrected 1099’s are issued in early to mid-March.

We are planning to send 1099’s to some of the tax preparers most commonly used by our clients. If you would like to make sure that you have received all of your 1099’s or that we send them directly to your tax preparer, please contact your financial planning team.

Sincerely, 



Jason Gunkel, CFP®, CFA, CAP®

Chief Investment Officer, Financial Planner