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Pershing Account 1099 Mailing Schedules

Pershing Account 1099 Mailing Schedules

   Mailing Phase 1: January 31

  • Forms 1099 will be mailed for accounts with holdings and income that typically do not require reclassification or additional information from issuers. Generally, this includes accounts holding fixed income (debt) or equity-only investments and options.1

   Mailing Phase 2: February 162

  • Generally, this mailing includes issuers of mutual funds, certain unit investment trusts (UITs), real estate investment trusts (REITs), and certain equities, because the issuer provided their final tax information after the January 31 mailing is prepared1
  • Pending 1099 Notices will be mailed for accounts where we are awaiting data from issuers. The notice will list investments that are awaiting information from issuers or trustees and indicate the possible mail date of an investor’s 1099. This notice, which will be available in e-Document Suite, will be mailed when issuers of reportable income cannot provide final tax information before the February 16 mailing is prepared. This letter will identify the income impacting the mail date. 

   Mailing Phase 3: February 293

  • Form 1099 mailing will occur for accounts for which Pershing can now include information that was previously pending income reclassifications from issuers of mutual funds, REITs, and certain equities, because the issuer or trustee has provided Pershing with final tax information. Generally, this includes remaining mutual funds, REITs, and certain equities.1 

   Mailing Phase 4: March 173

  • Form 1099 mailing will occur for all remaining accounts, regardless of whether pending income reclassifications for the account’s income have been received from issuers. Generally, this includes accounts holding complex non-equity securities, such as real estate mortgage investment conduits (REMICs), widely held fixed investment trusts (WHFITs), and some UITs.

   Revision Process

  • The first revision mailing for Form 1099s is planned for February 16. By this date, Pershing plans to mail the first batch of revisions—which will report changes to any tax statements mailed by January 31 as part of phase one.
  • Revisions will then occur by February 29 and by March 17 to report corrections to tax statements mailed in any of the previous mailings
  • After March 17, revisions will be sent weekly
  • You can view drafts of revised tax statements within e-Document Suite the Monday prior to their mailing and have the opportunity to review the accuracy of recent cost basis adjustments, as well as other sensitive transactions.
1Holding only these types of securities does not guarantee that your tax statements will be mailed on the indicated date. 
2 Pershing’s annual practice is to request and obtain an extension from the IRS to the February 15 date on which we are required to mail IRS Forms 1099 (B, DIV, INT, OID and MISC). Since February 15, 2016, falls on the President’s Day holiday, this phase of the mailing will occur on February 16. 
3 Pershing’s 30-day extension to the mailing requirement will accommodate these phases of the mailing.
 
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