January 14, 2019
Dear Clients of McCabe & Associates:
It is once again the time of year to begin preparing for tax filings. Pershing, a BNY Mellon company, provides tax reporting on our behalf. The mailing date of your Form 1099 depends on the types of holdings in your account. The following schedule will apply, although dates are subject to change:
|Mail Date||Type of Account*|
|January 31, 2019||Accounts with holdings and income that typically do not require additional information from issuers. Generally, this includes fixed income (debt), equity-only investments and options.|
|February 15, 2019||Accounts holding more complex securities, for which issuers provided final tax information after January 31. Generally, this includes mutual funds, certain unit investment trust (UITs), real estate investment trusts (REITs) and certain equities that were not included in the January 31 mailing.
If you hold positions for which issuers have not yet provided final tax information, you may receive a Pending 1099 Notice from Pershing.
|February 28, 2019||Accounts for which final tax information and/or income reclassifications were received after Feb. 15. Generally, this includes remaining mutual funds, REITs and certain equities.|
|March 15, 2019||Form 1099 will be mailed for all remaining accounts regardless of whether pending income reclassifications have been received from issuers. Generally, this includes certain complex, non-equity securities such as real estate mortgage investment conduits (REMICs), widely held fixed investment trusts (WHFITs) and some UITs.|
* Holding only these types of securities does not guarantee that your tax statements will be mailed on the indicated dates.
For more information, including a sample 1099 statement and additional details about the mailing timeline, visit mytaxhandbook.com.
If you have any questions, please contact me.
Tim McCabe, Tom Wojcik, Gary Brei, Ryan Gandurski & George McCabe