To help you plan for the preparation of your income tax return, please find below the mailing schedule for your 1099 consolidated statements from LPL Financial. LPL Financial mails 1099 consolidated statements in waves to account for various deadlines and income variations so that your tax information is timely, accurate and reliable.
|01/31||This release included accounts with the simplest tax information and not subject to income reclassification.|
|02/15||This release includes accounts holding securities (REIT, UIT, foreign security or municipal bond funds) that may be subject to income reclassification.|
|02/19||This release includes accounts receiving preliminary 1099 Consolidated Tax Statements.|
|03/01||In the event investment companies do not furnish tax information to LPL in time for the February 15 mailing deadline.|
|03/15||In the event investment companies do not furnish tax information to LPL in time for the February 15 or March 1 mailing deadline and any accounts that hold securities that provide mortgage backed income reporting information.|
Some accounts mail later than others due to the types of securities in those portfolios. Investments in certain assets, such as real estate and commodities, are much more likely to require reclassification. Also, securities that represent direct or indirect investments within these assets may require income reclassification.
Even with LPL’s staggered mailing system, further delayed reporting and reclassification received from the security issuer can sometimes occur, which will result in having to send corrected 1099 forms. If you need to file an amended tax return, be sure to discuss the situation with your tax advisor prior to refiling so that you can determine the best course of action based on your individual circumstances.
We hope this information will help you work with your tax advisor to plan your strategy for this tax season.