Annual Tax Disclosures

AMERITRUST 2021 FORM 1099 REPORTING

Tax Guide For 2021

Mailing Schedule:
AmeriTrust follows the Internal Revenue Service mailing deadlines for the delivery of tax data.  The below schedule will help you determine when your tax documents will be ready.  1099 tax form readiness is directly dependent upon the assets held within your account.

1099 Tax Information covered by forms:

FormTitle
1099-BProceeds from Broker and Barter Exchange Transactions
1099-INTInterest Income
1099-DIVDividends and Distributions
1099-OIDOriginal Issue Discount
1099-MISCMiscellaneous Income
1098Mortgage Interest Statement

*Our annual policy is to apply for a 30-day extension with the IRS which allows us to receive information provided by security issuers and apply this information to your tax forms (1099-B, DIV, INT, & OID).   

January 31, 2022:
Form 1099 will mail for accounts who holds more simple assets that do not require reclassification of income or additional information to provide an accurate tax document.  Examples of these assets are stocks and bonds.  However, it is highly likely that most client’s 1099-DIOB Forms will have an initial mailing starting on February 15th.

Form 1098 & Form 1099-MISC will be mailed by this date.

February 15, 2022:
Form 1099 will mail for accounts holding certain mutual funds, Unit Investment Trust, REITs, and certain equities not released in the January 31 mailing, provided we have received final 2021 tax information from the security issuers.  Your account will be processed by the next deadline if you hold assets for which security issuers have not yet published final 2021 tax information.

February 28, 2022:
Form 1099 will mail for accounts where we received income reclassifications after the February 15th mailing deadline.  This typically impacts certain mutual funds and REITS.

March 15, 2022:
Form 1099s will mail for all remaining accounts regardless of whether security issuers have released income reclassification data.  If you hold Real Estate Investment Conduits (REMICS), Widely Held Fixed Investment Trusts (commonly referred to as WHFITS) including  UITs, royalty trusts, mortgage-back securities, commodity trusts, or complex securities that derive their values based on holding these types of assets, you can expect your tax data will process in the March 15th period.

Tax Worksheets for K-1 preparation:
Our tax worksheets will follow the above schedule based on the assets held by the respective trust and provided we have had adequate time to review the worksheet.

Tax Reporting for Retirement Accounts

Payer Information:
ATCTN LLC is the payer listed on IRS Form 1099-R where we are custodian.

1099-R Form:
If reportable distributions were made from your IRA or other retirement accounts, your tax forms will be mailed by January 31, 2022.

5498 Form:
We will submit to the IRS information that is covered by Form 5498 for all IRA accounts.  We will prepare and mail your Form 5498 by May 31, 2022.  Form 5498 will provide the IRS the fair market value of your account as of December 31, 2021.  This value may be different than that reported on your annual IRA statement if you hold hard-to-value assets.  It is important that you provide your account administrator with updated 2021 asset valuations if you have directed investments into non-marketable assets or hard-to-value assets within your IRA.  This will ensure that your account’s market value data is accurately reflected per IRS regulations.

2022 Required Minimum Distributions:
We will be furnishing IRA accountholders an RMD notice for tax year 2022 by January 31, 2022. This notice will be provided to any accountholder who attains age 72 in 2022 or is already 72 or older. The IRS recently released new life expectancy tables for RMD calculations. These revised tables will be used to calculate 2022 RMD notices.

Corrections to Tax Forms
The IRS requires corrected information be provided to clients where this information becomes available.  Updated income classifications are one reason for a corrected form to be mailed.  We will distribute the corrected forms as quickly as possible for you and your tax preparer to determine your course of action regarding the correction.

Taxpayer Identification Number:
Please check your name and TIN (Tax ID number) on the tax form received for accuracy.  If your legal name, your TIN, or your legal address are incorrect, please take immediate action by contacting your Relationship Manager or Administrator.  We will require a signed IRS Form W-9 (Request for Taxpayer Identification Number and Certification) to update our information and correct the tax form.  Mismatches in either your legal name or TIN can cause IRS filing and reporting issues.  To avoid these, please validate our information about you is correct.

ARGENT TRUST COMPANY 2021 FORM 1099 REPORTING

Tax Guide For 2021

Mailing Schedule:
Argent follows the Internal Revenue Service mailing deadlines for the delivery of tax data.  The below schedule will help you determine when your tax documents will be ready.  1099 tax form readiness is directly dependent upon the assets held within your account.

1099 Tax Information covered by forms:

FormTitle
1099-BProceeds from Broker and Barter Exchange Transactions
1099-INTInterest Income
1099-DIVDividends and Distributions
1099-OIDOriginal Issue Discount
1099-MISCMiscellaneous Income
1098Mortgage Interest Statement

*Our annual policy is to apply for a 30-day extension with the IRS which allows us to receive information provided by security issuers and apply this information to your tax forms (1099-B, DIV, INT, & OID).   

January 31, 2022:
Form 1099 will mail for accounts who holds more simple assets that do not require reclassification of income or additional information to provide an accurate tax document.  Examples of these assets are stocks and bonds.  However, it is highly likely that most client’s 1099-DIOB Forms will have an initial mailing starting on February 15th.

Form 1098 & Form 1099-MISC will be mailed by this date.

February 15, 2022:
Form 1099 will mail for accounts holding certain mutual funds, Unit Investment Trust, REITs, and certain equities not released in the January 31 mailing, provided we have received final 2021 tax information from the security issuers.  Your account will be processed by the next deadline if you hold assets for which security issuers have not yet published final 2021 tax information.

February 28, 2022:
Form 1099 will mail for accounts where we received income reclassifications after the February 15th mailing deadline.  This typically impacts certain mutual funds and REITS.

March 15, 2022:
Form 1099s will mail for all remaining accounts regardless of whether security issuers have released income reclassification data.  If you hold Real Estate Investment Conduits (REMICS), Widely Held Fixed Investment Trusts (commonly referred to as WHFITS) including  UITs, royalty trusts, mortgage-back securities, commodity trusts, or complex securities that derive their values based on holding these types of assets, you can expect your tax data will process in the March 15th period.

Tax Worksheets for K-1 preparation:
Our tax worksheets will follow the above schedule based on the assets held by the respective trust and provided we have had adequate time to review the worksheet.

Tax Reporting for Retirement Accounts

Payer Information:
ATCTN LLC is the payer listed on IRS Form 1099-R where we are custodian.

1099-R Form:
If reportable distributions were made from your IRA or other retirement accounts, your tax forms will be mailed by January 31, 2022.

5498 Form:
We will submit to the IRS information that is covered by Form 5498 for all IRA accounts.  We will prepare and mail your Form 5498 by May 31, 2022.  Form 5498 will provide the IRS the fair market value of your account as of December 31, 2021.  This value may be different than that reported on your annual IRA statement if you hold hard-to-value assets.  It is important that you provide your account administrator with updated 2021 asset valuations if you have directed investments into non-marketable assets or hard-to-value assets within your IRA.  This will ensure that your account’s market value data is accurately reflected per IRS regulations.

2022 Required Minimum Distributions:
We will be furnishing IRA accountholders an RMD notice for tax year 2022 by January 31, 2022. This notice will be provided to any accountholder who attains age 72 in 2022 or is already 72 or older. The IRS recently released new life expectancy tables for RMD calculations. These revised tables will be used to calculate 2022 RMD notices.

Corrections to Tax Forms
The IRS requires corrected information be provided to clients where this information becomes available.  Updated income classifications are one reason for a corrected form to be mailed.  We will distribute the corrected forms as quickly as possible for you and your tax preparer to determine your course of action regarding the correction.

Taxpayer Identification Number:
Please check your name and TIN (Tax ID number) on the tax form received for accuracy.  If your legal name, your TIN, or your legal address are incorrect, please take immediate action by contacting your Relationship Manager or Administrator.  We will require a signed IRS Form W-9 (Request for Taxpayer Identification Number and Certification) to update our information and correct the tax form.  Mismatches in either your legal name or TIN can cause IRS filing and reporting issues.  To avoid these, please validate our information about you is correct.

HERITAGE TRUST 2020 FORM 1099 REPORTING

Tax Guide For 2021

Mailing Schedule:
Heritage follows the Internal Revenue Service mailing deadlines for the delivery of tax data.  The below schedule will help you determine when your tax documents will be ready.  1099 tax form readiness is directly dependent upon the assets held within your account.

1099 Tax Information covered by forms:

FormTitle
1099-BProceeds from Broker and Barter Exchange Transactions
1099-INTInterest Income
1099-DIVDividends and Distributions
1099-OIDOriginal Issue Discount
1099-MISCMiscellaneous Income
1098Mortgage Interest Statement

*Our annual policy is to apply for a 30-day extension with the IRS which allows us to receive information provided by security issuers and apply this information to your tax forms (1099-B, DIV, INT, & OID).   

January 31, 2022:
Form 1099 will mail for accounts who holds more simple assets that do not require reclassification of income or additional information to provide an accurate tax document.  Examples of these assets are stocks and bonds.  However, it is highly likely that most client’s 1099-DIOB Forms will have an initial mailing starting on February 15th.

Form 1098 & Form 1099-MISC will be mailed by this date.

February 15, 2022:
Form 1099 will mail for accounts holding certain mutual funds, Unit Investment Trust, REITs, and certain equities not released in the January 31 mailing, provided we have received final 2021 tax information from the security issuers.  Your account will be processed by the next deadline if you hold assets for which security issuers have not yet published final 2021 tax information.

February 28, 2022:
Form 1099 will mail for accounts where we received income reclassifications after the February 15th mailing deadline.  This typically impacts certain mutual funds and REITS.

March 15, 2022:
Form 1099s will mail for all remaining accounts regardless of whether security issuers have released income reclassification data.  If you hold Real Estate Investment Conduits (REMICS), Widely Held Fixed Investment Trusts (commonly referred to as WHFITS) including  UITs, royalty trusts, mortgage-back securities, commodity trusts, or complex securities that derive their values based on holding these types of assets, you can expect your tax data will process in the March 15th period.

Tax Worksheets for K-1 preparation:
Our tax worksheets will follow the above schedule based on the assets held by the respective trust and provided we have had adequate time to review the worksheet.

Tax Reporting for Retirement Accounts

Payer Information:
ATCTN LLC is the payer listed on IRS Form 1099-R where we are custodian.

1099-R Form:
If reportable distributions were made from your IRA or other retirement accounts, your tax forms will be mailed by January 31, 2022.

5498 Form:
We will submit to the IRS information that is covered by Form 5498 for all IRA accounts.  We will prepare and mail your Form 5498 by May 31, 2022.  Form 5498 will provide the IRS the fair market value of your account as of December 31, 2021.  This value may be different than that reported on your annual IRA statement if you hold hard-to-value assets.  It is important that you provide your account administrator with updated 2021 asset valuations if you have directed investments into non-marketable assets or hard-to-value assets within your IRA.  This will ensure that your account’s market value data is accurately reflected per IRS regulations.

2022 Required Minimum Distributions:
We will be furnishing IRA accountholders an RMD notice for tax year 2022 by January 31, 2022. This notice will be provided to any accountholder who attains age 72 in 2022 or is already 72 or older. The IRS recently released new life expectancy tables for RMD calculations. These revised tables will be used to calculate 2022 RMD notices.

Corrections to Tax Forms
The IRS requires corrected information be provided to clients where this information becomes available.  Updated income classifications are one reason for a corrected form to be mailed.  We will distribute the corrected forms as quickly as possible for you and your tax preparer to determine your course of action regarding the correction.

Taxpayer Identification Number:
Please check your name and TIN (Tax ID number) on the tax form received for accuracy.  If your legal name, your TIN, or your legal address are incorrect, please take immediate action by contacting your Relationship Manager or Administrator.  We will require a signed IRS Form W-9 (Request for Taxpayer Identification Number and Certification) to update our information and correct the tax form.  Mismatches in either your legal name or TIN can cause IRS filing and reporting issues.  To avoid these, please validate our information about you is correct.

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