Many of you have called with questions regarding when you will receive your 1099’s for 2017. In an effort to keep you informed with the latest information, please see the below notices we received from SEI and TD Ameritrade.

Be aware, custodians may send up to five correction cycles of 1099’s (see schedule below). This is an industry wide issue, and unfortunately, we are at the mercy of the Custodians and their timelines.

Please note, we strongly advise that you wait at least until March 15th to file your return because of the possibility of corrected 1099’s being issued to you.

If you have any questions please call our office, and see below schedules.

SEI:

1099- Composite forms

The 1099-Composite will be mailed to you on or before February 28, 2018.

The 1099-Composite is comprised of the following combined forms:

  • 1099-B, Proceeds from Broker and Barter Exchange Transactions
  • 1099-DIV, Dividends and Distributions
  • 1099-INT, Interest Income
  • 1099-OID, Original Issue Discount
  • 1099-MISC, Royalty Income

Please note: 1099-R’s are not affected.
 

TD Ameritrade:
In an effort to allow sufficient time to capture as many income reallocations as possible, we have designated the following dates for any necessary 1099 corrections.

1st Correction Cycle – February 22, 2018
Reports reclassified income (not captured on Consolidated 1099 forms to be issued by mid-February 2018) that was reported to TD Ameritrade between February 10, 2018 and February 16, 2018.

2nd Correction Cycle – March 8, 2018
Reports reclassified income that was reported to TD Ameritrade between February 17, 2018 and March 2, 2018.

3rd Correction Cycle – March 21, 2018
Reports reclassified income that was reported to TD Ameritrade between March 3, 2018 and March 16, 2018.

4th Correction Cycle – April 10, 2018
Reports reclassified income that was reported to TD Ameritrade between March 17, 2018 and April 6, 2018.