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Disappointed Vanguard Brokerage

edited February 28 in Other Investing
After spending hours trying to reach Vanguard telephone support earlier this year and thinking this is as bad as it gets, I now found out that Vanguard brokerage won't send me my 1099-DIV till March 15-17 which is NOT acceptable. I have already received all my 1099-DIVs by mid February. Apparently I fall in 1099-consolidated (group 3) which means 1099-DIV will be available online March 15-17. Anyone else falls in the same bucket? Anyone else angry about that?

https://investor.vanguard.com/investor-resources-education/taxes/investment-tax-forms

Comments

  • I would recommend that you check online frequently regardless what Vanguard says the available date. Often I get mine a week or two ahead of the actual dates. You can download the 1099-DIV right away. By that time your tax would be done before the paper copy arrives.
  • Thank you Sven for your reply. I am hoping that Vanguard will email me when my tax form is ready. However, I will check online as you mentioned as hope is not a strategy. Thanks again.
  • This really work! I got my form 3 days before the email notice arrived. I went the paperless route a number years ago since it is the quickest way to get your form. Good luck.
  • Not familiar with groups 1, 2, 3. What does that refer to?
  • msf
    edited February 28
    Many brokerages describe their 1099 mailings as being divided into three groups. Here's Raymond James' description of which statements get mailed when:
    GROUP 1: DATED FEBRUARY 15
    Forms mailed for accounts with holdings where issuers have finalized income reallocation or accounts holding less-complex securities, such as equities.
    GROUP 2: DATED FEBRUARY 28
    Forms mailed for accounts with holdings where issuers have finalized income reallocation since Group 1 was mailed. This typically includes mutual funds and unit investment trusts (UITs). Additionally, the first amended Composite Statements are mailed.
    GROUP 3: MAILED BY MARCH 15
    Forms mailed for remaining original Composite Statements including real estate mortgage investment conduit (REMIC) that report on Form 1099-OID. Additionally, the second round of amended forms are mailed.
    https://www.raymondjames.com/-/media/rj/dotcom/files/client-resources/tax-reporting/2020_composite_form_1099_guide.pdf

    TDAmeritrade provides an explanation of why these forms may be delayed.
    https://tickertape.tdameritrade.com/personal-finance/brokerage-account-1099-deadline-15591
  • Thanks msf.
  • Hi DavidF, if you click on the link in my first message, you can see description of groups at Vanguard.
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