Tax time can be overwhelming and stressful, but it doesn’t need to be. Check out the list of dates below for any forms or statements you may be receiving.
Clients can receive immediate email notifications as soon as tax forms are available by signing up for e-notification. Tax forms sent by mail will be mailed 5–7 days after they have been posted online.
For income less than $10, NFS follows the de minimus rule (i.e., not enough to be considered) and will not mail a Form 1099 or report the income to the IRS. The online 1099 will note this with a “de minimis” watermark and label on the top right. Exceptions to this rule: If the client sold shares or had tax withheld for any amount, and/or if foreign taxes have been paid, NFS will mail your client a tax form.
Please note: Some tax forms may be mailed on a delayed or corrected mailing cycle.
|Date||Tax Form||Availability Notes|
|January 21, 2022||Form 5498||Available online; for use with contributions to, and year-end market values of, brokerage retirement accounts|
|January 21, 2022||Form 1099-R||Available online; for distributions from brokerage retirement accounts|
|January 22, 2022||1099 Consolidated Tax Form||Mailing cycle 1, Available online; for accounts holding securities with no anticipated reclassifications|
|February 12, 2022||1099 Consolidated Tax Form||Mailing cycle 2, Available online; for accounts holding securities with income reclassifications to date|
|February 12, 2022||1099 Preliminary Tax Statement||Available online only; for early tax preparation with clients receiving 1099s in Mailing cycles 3 or 4
Please note: Statement is for planning purposes only and is not considered final
|February 12, 2022||1099: Info Only (corporate)||Available online only; supplemental information for corporate and eligible exempt accounts|
|February 24, 2022||Forms 480.6A, 480.6B, 480.6C, and 480.6D||Available online; for residents of Puerto Rico|
|February 26, 2022||1099 Consolidated Tax Form||Mailing cycle 3, Available online; for brokerage accounts holding securities with income reclassifications to date|
|March 5, 2022||1099 Consolidated Tax Form||Mailing cycle 4, Available online; for brokerage accounts holding later-issuer reclassifications (e.g., UITs, REITs)|
|March 5, 2022||Forms 1099 REMIC||Available online; for OID and other periodic interest reported|
|March 10, 2022||1042-S (nonretirement)||Available online; for use with nonretirement accounts held by nonresident aliens with U.S.-source income earnings|
|March 11, 2022||Form 2439||Available online; for undistributed long-term gains
Please note: Clients should consult a tax professional with questions on how to use Form 2439 when filing.
|March 15, 2022||1042-S (retirement)||Mailing deadline; for use with retirement accounts held by nonresident aliens with distributions from retirement accounts
Please note: This form is not available online.
|April 21, 2022||Form 5500 AVS (retirement plans)||Available online|
|May 12, 2022||Follow-up Form 5498||Available online; for contributions made between January 1, 2022, and April 18, 2022|
|April 18, 2022||Federal Tax Filing Deadline; filing transactions for 2021 tax year must be completed by this date. For 2021 IRA contributions, IRAs must be established.|
*All dates subject to change
If you have any questions, please feel free to reach out to our team or contact Commonwealth Financial Network at 800.237.0081
The material has been provided for general informational purposes only and does not constitute either tax or legal advice. It is recommended that you consult a tax preparer, professional tax advisor, or lawyer for advice appropriate to your particular situation.