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Disappointed Vanguard Brokerage

ET91
edited February 2022 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

  • Sven
    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.
  • ET91
    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.
  • Sven
    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.
  • DavidF
    Not familiar with groups 1, 2, 3. What does that refer to?
  • msf
    edited February 2022
    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
  • DavidF
    Thanks msf.
  • ET91
    Hi DavidF, if you click on the link in my first message, you can see description of groups at Vanguard.
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