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Is there a law regarding when 1099's are due?
Old 02-11-2020, 04:08 PM   #1
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Is there a law regarding when 1099's are due?

I emailed my Vanguard Flagship rep to ask when I'd see my 1099's for 2019. She casually responded that they'd be available mid to late February.

Isn't there a law that they're due by Jan. 31st?
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Old 02-11-2020, 04:12 PM   #2
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I think so, but you should have them now. I have mine.

Have you logged in and gone to the Tax Center to see if they are there? I don't get mine by mail anymore.
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Old 02-11-2020, 04:15 PM   #3
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My FIDO 1099R has been delayed to 15 Feb. They say it's because of my international index fund. Whatever that means.
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Old 02-11-2020, 04:30 PM   #4
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My FIDO 1099R has been delayed to 15 Feb. They say it's because of my international index fund. Whatever that means.
+1. When I used to have international mutual funds, it would be delayed until mid-late February. Now that I've switched to ETFs, it's been 'delivered' by the end of January. Not sure if this is the reason, just a guess.
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Old 02-11-2020, 04:36 PM   #5
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Brokerage firms are not required to mail 1099's until February 15th.
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Old 02-11-2020, 05:11 PM   #6
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Originally Posted by RenoJay View Post
I emailed my Vanguard Flagship rep to ask when I'd see my 1099's for 2019. She casually responded that they'd be available mid to late February.

Isn't there a law that they're due by Jan. 31st?
No. It is Feb 15 for 1099's.
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Old 02-11-2020, 05:16 PM   #7
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No. It is Feb 15 for 1099's.
Yep. That's something that VG neglected to mention when they said the change to a brokerage account would be transparent.
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Old 02-11-2020, 05:36 PM   #8
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No. It is Feb 15 for 1099's.
It certainly depends on the kind of 1099. There are all sorts - 1099-INT, 1099-DIV, 1099-B, 1099-SSA. I think INTs and DIVs are required to be mailed by 1/31. Didn't know that 1099-Bs can wait until 2/15, but that makes sense given qualified dividends.

Like @pb4uski, we already have ours, but we don't have any foreign holdings. Maybe that's the reason.
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Old 02-11-2020, 05:44 PM   #9
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Because we had some VNQ (REIT ETF) in our account in Q1, Fido is telling us not to expect our 1099 until 2/29
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Old 02-11-2020, 08:26 PM   #10
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We have our 1099s from Vanguard for our mutual fund account. We do not have our 1099 for our brokerage account yet. My understanding is that brokerage account 1099s have to be "postmarked" by 2/15. We get our documents electronically from Vanguard so should have it this week.
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Old 02-11-2020, 09:03 PM   #11
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I’ve been waiting for my 1099-R. I was told that for an IRA they have until 2/15. I check the website a couple times a day. One of the 1099’s showed up a couple days before the email notification that it was available.
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Old 02-11-2020, 09:59 PM   #12
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We got all our 1099's from vanguard a week ago and we converted both accounts to brokerage. Didn't complicate our taxes.
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Old 02-11-2020, 10:18 PM   #13
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Yep. That's something that VG neglected to mention when they said the change to a brokerage account would be transparent.
I was thinking the same thing, but in their defense, I had my 1099s for my brokerage accounts by Jan 21.... same day as the 1099s for my mutual fund accounts. It might be that the OP has some complication.... in my cases all funds are Vanguard funds in both mutual fund and brokerage accounts.
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Old 02-11-2020, 10:22 PM   #14
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We got all our 1099's from vanguard a week ago and we converted both accounts to brokerage. Didn't complicate our taxes.
+1
Holdings don't generally care what type of account they're in. Taxes are taxes, they stink every year. IRS changes expectations every year and doesn't provide good information to the providers. Then you have to prioritize and attack different types of funds. Then there's problems and reworking. Of course Murphy always shows up with a bag of wrenches.
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Old 02-11-2020, 11:10 PM   #15
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Originally Posted by pb4uski View Post
I was thinking the same thing, but in their defense, I had my 1099s for my brokerage accounts by Jan 21.... same day as the 1099s for my mutual fund accounts. It might be that the OP has some complication.... in my cases all funds are Vanguard funds in both mutual fund and brokerage accounts.


Youíre probably right. At one point I owned a mutual fund in my Vanguard brokerage with was from a completely different fund house, so that could be a cause of the delay. Itís pretty frustrating.
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Old 02-12-2020, 06:12 AM   #16
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eTrade says to expect them on Feb 18th. I suspect that's because it's the first business day after the 14th this year. 15th is a Saturday and Monday 17th is Presidents' Day.
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Old 02-12-2020, 06:24 AM   #17
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My husband's Vanguard account was converted to brokerage in 2019. This is the email I received after I downloaded one set of 1099s for his account, one for the brokerage, one for his RMD withdrawal.
Quote:
Thank you for transitioning from our old investment platform (mutual fund-only) to our new investment platform (brokerage) in 2019.

We wanted to remind you that, as a result of the transition, you may receive 2 separate sets of tax forms for 2019: a set for the old platform (available at the end of January) and another set for the new platform (available by the end of February).

Please wait until you get all of your forms before filing your taxes.
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Old 02-12-2020, 06:25 AM   #18
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Originally Posted by pb4uski View Post
I was thinking the same thing, but in their defense, I had my 1099s for my brokerage accounts by Jan 21.... same day as the 1099s for my mutual fund accounts. It might be that the OP has some complication.... in my cases all funds are Vanguard funds in both mutual fund and brokerage accounts.
Complication is REITs, International or some other funds with odd assets.
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Old 02-12-2020, 06:27 AM   #19
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BTW, one reason I moved from E*Trade is that they routinely sent me multiple corrections to my 1099. I had one funky fund (can't remember the name) that had some gold bars in it. They always blamed that, but I'm pretty sure it was more than that.

Many years I got corrected 1099s in April, and one time, late April. I had to amend my taxes that year.

I'd rather they get it right by end of February than pay the amendment game.
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Old 02-12-2020, 08:10 AM   #20
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My FIDO 1099R has been delayed to 15 Feb. They say it's because of my international index fund. Whatever that means.

My guess is that it takes them some time to figure out how much foreign tax was paid for the holdings in the international funds, since you can get credit for this on your income taxes.
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