taxes

Tax Form Timing

Most tax forms (1099s) are available online by February 15

As soon as your 1099 is available online, we'll send you an e-mail to let you know. If you opted to have your form mailed to you, you should receive it a couple weeks after February 15.

Why not January 31?

The Emergency Economic Stabilization Act of 2008 changed the IRS reporting deadline for brokerages to February 15. Tax forms for brokerages are complicated and can take a while to complete. Why? Brokerages must wait for companies to provide information on the securities you held in your account last year before your tax forms can be completed.

If you don't get your 1099 by February 15, it could be for one of the following reasons:

Your form is still coming

Sometimes we need to send you a tax form after the February deadline. The IRS lets us do this because one or more of the securities you hold is likely to make updates that would force us to send you a new form.

You're not going to receive a form

If you don't receive a form by mid-March, you likely did not meet the minimum reporting thresholds and won't receive a 1099 form for your ShareBuilder account. Check out the IRS reporting thresholds.

You have an IRA or ESA

IRAs (Individual Retirement Arrangement) and ESAs (Education Savings Accounts) have separate forms – 1099-R and 5498 for IRAs, 1099-Q & 5498-ESA for ESAs. Beginning with the 2012 tax year, these tax forms will be available online. If you wish to change your delivery method to have your forms mailed to you, please visit Account Settings.

1099-R or 1099-Q – distribution

The 1099-R/Q is used to report any distributions taken from your account during the previous year. This form is mailed by January 31 ONLY if you made distributions during the tax year.

5498 or 5498-ESA Form – contributions

The 5498 is used to report any contributions you made to this account. This form is mailed at the end of May ONLY if you made a contribution to this account for the previous tax year. The 5498-ESA is available at the end of April ONLY if you made a contribution to this account for the previous tax year. These forms are not needed for filing your taxes.

TIP: If you didn't make any contributions or distributions during the reporting period, you may not receive either form. Check your Year End Statement for more information.

Tax forms can change

Although rare, some companies update the tax information they provide, even into March and April. If your 1099 is affected, we'll update your tax form and email you.