4061 Powder Mill Road, Suite 705 • Calverton, MD 20705 • Phone: 301.595.8600 • Toll Free: 877.595.8605

As you prepare for tax season, here is some information that you may find beneficial.

Important information for tax season 2023

2023 Form 1099 mailing schedule

  • January 31 – Mailing of Form 1099-Q and Retirement Tax Packages and Raymond James Bank year-end bank tax packets
  • February 15 – Mailing of original Form 1099s
  • February 28 – Begin mailing delayed and amended Form 1099s
  • March 15 – Final mailing of any remaining delayed original Form 1099s

Please note that we do not receive advance notice as to when you will receive tax documents or if you will be receiving amended tax documents.

Additional important information

Delayed Form 1099s

In an effort to capture delayed data on original Form 1099s, the IRS allows us to extend the mailing date until March 15, 2024, for clients who hold particular investments or who have had specific taxable events occur. Examples of delayed information include:

  • Income reallocation related to mutual funds, real estate investment, unit investment, grantor and royalty trusts, as well as holding company depositary receipts
  • Processing of original issue discount and mortgage-backed bonds
  • Expected cost basis adjustments including, but not limited to, accounts holding certain types of fixed income securities and options

If you do have a delayed Form 1099, a preliminary statement will be generated and can be viewed in Client Access for informational purposes only, as the form is subject to change.

Amended Form 1099s

Even after delaying your Form 1099, please be aware that adjustments to your Form 1099 are still possible. Raymond James is required by the IRS to produce an amended Form 1099 if notice of such an adjustment is received after the original Form 1099 has been produced. There is no cutoff or deadline for amended Form 1099 statements. The following are some examples of reasons for amended Form 1099s:

  • Income reallocation
  • Adjustments to cost basis (due to the Economic Stabilization Act of 2008)
  • Changes made by mutual fund companies related to foreign withholding
  • Tax-exempt payments subject to alternative minimum tax
  • Any portion of distributions derived from U.S. Treasury obligations

Accessing tax documents through Raymond James Client Access (online account)

To access your tax documents online once forms are produced, please login to your Raymond James Account. The home page will land on the My Accounts – Summary tab. Under My Accounts, select Documents tab. Please see Step 1 below for example. On the Documents tab, please ensure All Account(s) is selected. Next, select the Tax Reporting tab. Please expand each month by clicking + to see all documents. Please see Step 2 below for example.

Step 1:

Step 2:

Tax Form 1099 export to Excel & tax prep software

Raymond James, in conjunction with our tax vendor, offers the ability to download 1099 information into an Excel format. The download provides the ability to send tax reporting information to tax professionals or upload directly into tax preparation software. The link is accessible (in Client Access) once the forms are produced. Further instructions are available here.

Raymond James has also partnered with tax preparation software providers H&R Block, TaxACT and TurboTax to provide tools that will enable you to easily import tax form data. Further instructions are available here located with links on the left side of the page.

What can you do?

You should consider talking to your tax professional about whether it makes sense to file an extension with the IRS to give you additional time to file your tax return, particularly if you held any of the aforementioned securities during 2023.

If you receive an amended Form 1099 after you have already filed your tax return, you should consult with your tax professional about the requirements to re-file based on your individual tax circumstances.

You can find additional information here.

I hope you find this additional information helpful. Please call me if you have any questions or concerns about the upcoming tax season.

Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.