Introduction to tax reporting alerts

Introduction to tax reporting alerts

You will receive tax reporting alerts when tax forms and letters become available for your client, as well as in cases where return of capital (ROC) causes a cost basis adjustment to a client's account.

To begin receiving tax reporting alerts, see How to work with alerts.

Key features related to tax reporting alerts:

  • Timely notification
  • Ability to receive email notifications or general mail correspondence for any alert type
  • Customized frequency and delivery
  • Convenient links to the Documents tab
  • Available at the FA, SL, and BT master level

Below are descriptions of each tax reporting alert.

 

Alert typeAlert subjectContentTimeframeAction needed
Report AvailableDownload Tax Reports
  • Type of tax form or letter
  • How many reports or letters
  • Link to the Documents tab to access the zip file containing PDFs for each tax form
Generated when the zip file is available for download which is approximately 48 business hours after the forms have posted to all linked sub-accounts.No action is required. The alert is informational.
Cost BasisCost Basis Adjusted due to Return of Capital
  • Notification of cost basis adjustments due to ROC
  • Link to the Documents tab to access the zip file containing the Microsoft® Excel file

For general information related to ROC and the ROC report, see Implications of Return of Capital (ROC)

Produced the first business day after the adjustments are made in the cost basis system.No action is required. The alert is informational.

How to work with alerts
Introduction to account type tax reporting
Introduction to alerts
Introduction to tax forms
Introduction to tax forms production
Introduction to tax information files
Introduction to the Account Summary Report and the Year-end Gain/Loss Report

Implications of Return of Capital (ROC)

If you have questions about cost basis reporting, statement preferences, and tax reporting, contact your service team or call Advisor Services Cost Basis Service Tooltip at 877-762-6446.