When Your 2023 Tax Forms Will Be Available
Our goal at Central Trust Company is to provide you with accurate and timely tax information. To accomplish this, we generally await receipt of final tax information before issuing your tax forms to ensure the information is as accurate as possible. We would like you to be aware that some companies in which we hold investments on your behalf are not able to provide final tax information to us until late February or early March, resulting in a delay in the delivery of your tax forms to you.
The IRS provides dates by which we are required to mail certain tax forms. The table below shows the IRS mailing deadline for various forms. Despite these IRS prescribed deadlines, we will provide you with your tax forms as soon as your data is available. If you have multiple accounts with Central Trust Company, Forms 1099 may be mailed on different dates. Additionally, if your investment or IRA account moved to Fidelity in 2023 from an existing Central Trust Company account, you will receive tax reporting forms from both Central Trust Company and Fidelity for tax year 2023. Please confirm that you have received all tax reporting documents before filing your tax return.
1 Extended deadline for mailing Consolidated Form 1099s to taxpayers is March 15, 2024. Consolidated Form 1099s that include tax reporting of Widely-Held Fixed Investment Trusts (WHFIT’s) are also due to recipients by March 15, 2024.
2 REMICS and CMOs are required to provide certain information in statement form in addition to a 1099-INT and/or 1099-OID.
3 If you make a contribution or rollover for the 2023 tax year, Form 5498 will be sent to you in May. Otherwise, the December 31, 2023 year-end value of your IRA will be provided on your December 2023 account statement (sent in early January). A separate letter will be sent to you by January 31, 2024 detailing your Required Minimum Distribution (RMD) amount for the 2024 tax year.
Due to various mailing deadlines, it is possible, based upon the type of account and/or assets, that you will receive multiple mailings. We encourage you to consult your tax advisor regarding when to file your tax returns.
For more information, please visit our Tax Center at centraltrust.net/tax or contact your Relationship Manager with any additional questions.