Osaic Wealth, Inc. and SEI Private Trust Company Tax Mailing Schedule For 2023 (1099s)

Osaic Wealth, Inc. and SEI Private Trust Company Tax Mailing Schedule For 2023 (1099s)

Your tax information statement, which includes your 1099 forms, will be delivered as early as possible. Depending on the holdings in your account, BNY Mellon | Pershing—which provides tax reporting services on behalf of your financial organization—will begin mailing 1099 tax statements by January 31, 2022. Please be aware that some issuers do not make their final distribution information available until after January.

Phase One: January 31, 2024

2023 Osaic Wealth, Inc. and SEI Private Trust Company Forms 1099 (B, DIV, OID and MISC)* Tax Packages and SEI Private Trust Company 5498 Tax Packages 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 stocks, bonds, and options.  

 

Phase Two: February 15, 2024

Osaic Wealth, Inc. and SEI Private Trust Company will be producing the first batch of 1099 Composite Tax forms. Generally, this mailing includes accounts holding mutual funds, certain unit investment trusts (UITs), real estate investment trusts (REITs) and certain equities that were not included in the phase one mailing or because the issuer provided their final tax information after the January 31st mailing is prepared*.

Pending 1099 Notices will be mailed for accounts for which Pershing/Osaic is awaiting data from issuers or in cases where Pershing/Osaic has not completed and processing of all information.  The Notice will list investments that are awating information from issuers or trustees or final review and will include the possible mail date of investors 1099s. This Notice which will be available in eDocument Suite(c) will be mailed when issuers of reportable income cannot provide final tax information before the February 15th mailing is prepared.  This letter will identify the income impacting the mail date.  If clients received Form 100, they will not be sent this notice.

Revision mailings for 1099s sent in Phase One, as required.

 * Holding only these types of securites does not guarantee that clients' tax statements will be mailed on the indicated date.   

Phase Three: February 29, 2024

Forms 1099 will occure for accounts for which Pershing/Osaic is now able to include information that was previously pending income reclassifications from issuers of mutual funds.  REITS and certain equities because the issuer or trustee has provided Osaic Wealth, Inc. with final tax information.  Generally, this includes remaining mutual funds, REITs and certain equities.

 Revision mailings for 1099s sent in Phases One and Two, as required.

Phase Four: March 15, 2024

Final 2023 1099 Tax Forms will be mailed for all remaining accounts regardless of whether pending income reclassifications have been received from issuers. Generally, this includes accounts holding certain complex securities such as such as real estate mortgage investment conduits (REMICs), widely held fixed investment trusts (WHFITs) and some UITs.

Revision mailing for 1099s sent in all previous Phases, as required.

Corrected 1099 Forms Will Be Mailed as Needed

You may receive a corrected Form 1099.  There are several reasons for this - for example, issuers of securities held in your account may provide updated or additional infomation after your Form 1099 s mailed to you.  The IRS requires financial organizations to send corrected forms with revised informaiton as it becomes available. 

If a retirement account holder makes a contribution in 2024 for the 2023 tax year after January 31st, Osaic Wealth, Inc. and SEI will revise their 2023 tax form and reissue. 

 Other Important Tax Information for 2023 and Next Steps

For additional tax Information for 2023, visit us at Universalwm.com or visit irs.gov for up to date tax changes for 2023.  For the 2023 tax year, you may also want to update your account to reflect the proper elections you will be making with the IRS.

1. Consider e-delivery, which provides the fastest access to your tax forms and other account documents. Visit www.Universalwm.com and Client Center for a direct link to Osaic Wealth, Inc. - Equipt and/or SEI Private Trust for your online registration access.
2. Visit mytaxhandbook.com for more information about this year’s phased mailing schedule of tax information statements/Forms 1099 and other resources.
3. See irs.gov for more details about tax and cost basis reporting.

This information is subject to change without prior notice and is not intended or written to be used as a substitute for specific tax, accounting or legal advice.