Tax Reporting Information

Educational Tax Information For Tax Year 2017

Stifel, Nicolaus & Company, Incorporated (Stifel) is a full-service wealth management and investment banking firm, not an accounting firm, nor is Stifel in the business of giving tax advice. The information presented on this page is not intended to be nor should it be considered a basis for proper reporting on an individual’s tax return. Tax laws are very complex and involve a level of interpretation for both State and Federal purposes that only a qualified tax professional should provide.

IRS Circular 230 Disclosure: Stifel, its affiliates, and associates are not in the business of providing tax, regulatory, accounting, or legal advice. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties. Any such taxpayer should seek advice based on the taxpayer’s particular circumstance from an independent tax advisor.

Stifel is required by the Internal Revenue Service to furnish various Tax Forms to Stifel clients by the applicable due date. The information provided on this page will assist you in understanding Stifel’s process as well as provide educational information relating to yearly tax reporting.

The IRS regulations require taxpayers as well as issuers of tax forms to file their return by certain due dates. Stifel works very diligently to issue all tax forms in a timely manner. However, due to the complexity surrounding tax reporting and delays in receiving final reportable numbers from the securities issuers, Stifel may be required to delay the finalization of your tax information to an alternate date. Stifel will continue to work with the securities issuers to receive final numbers in order to provide you with accurate tax reporting information.

If your investments are subject to these delays, Stifel will provide a “Delay Letter” notifying you that the mailing of your tax information will be delayed to an alternate mail date. Stifel has created a “Preliminary 1099,” which clients can only receive electronically. The “Preliminary 1099” will reflect both finalized information received from the issuers as well as a listing of securities pending reclassification. Since we cannot determine what items may be affected year to year, we highly encourage everyone to sign up for electronic delivery.

Even with these additional steps, the securities issuers may provide Stifel with corrected tax reporting numbers before the IRS filing due dates. Since we do not have control over when these corrected tax reporting numbers are provided to Stifel, we encourage you to wait to file your 2017 tax return as long as reasonably possible.

To assist you in preparing for the upcoming Tax Return Filing season, Stifel has provided a “Preliminary Mail Schedule” as well as the IRS description and summary below.

IRS Mailing Deadline Form Type Description
January 31, 2018* 1099R and 1099Q Distribution from your IRA or Education Savings Accounts
February 15, 2018 * #

These six forms are reported on
Stifel’s 1099
statement referencing
each type within the document.
1099-DIV Dividends, Qualified Dividends, and Certain Distributions
1099-INT Interest Income, Federal Withholding, and Foreign Tax Paid
1099-OID Original Issue Discount Income. If you held a Collateralized Mortgage Obligation (CMO), Collateralized Debt Obligation (CDO), or a Real Estate Mortgage Investment Conduit (REMIC), you will receive your 1099 at the alternate delayed mailing date, as these types of investments finalize their numbers at later dates than traditional OID instruments.
1099-B Sales Proceeds, Principal Payments, and Withholding, including Corporate Actions – including Redemptions and Tenders, Options, No Loss Mergers, and 1256 contracts.
1099-MISC Miscellaneous Income, Royalty Payments, and Substitute Payments in Lieu of Dividends.
WHMT A Widely Held Mortgage Trust (WHMT) is a Widely Held Fixed Investment Trust (WHFIT) whose underlying assets consist of but are not limited to mortgages, regular interest in a REMIC, and interest in another WHMT. Generally Principal Payment, Interest Income, and Non-Reportable Expense Items are associated with these investments. Stifel will report this income on our consolidated statement under the 1099INT, 1099B, or our Supplemental Non-Reportable section.
Quarterly on or before the 15th day of the second calendar month after the close of the calendar month in which the credit is allowed.* 1097-BTC Tax credit bonds are a type of bond that offers the holder a federal tax credit instead of interest. This form is used to report these tax credits to bond holders and the IRS for issuers of certain tax credit bonds.
February 28, 2018 * 480.6 (A-D) Various Puerto Rico Information Returns for Non-Residents of Puerto Rico with Puerto Rican securities or a resident of Puerto Rico.
March 15, 2018 * 1042-S Foreign Persons who have U.S. source income subject to withholding and reporting, such as interest, dividends, royalties, pensions, and annuities.
March 31, 2018 * 2439 Notice to Shareholders of Undistributed Long-Term Capital Gains.
April 30, 2018 * 5498-ESA Contributions (including rollovers and transfers) to a Coverdell Education Savings Account. Note: Unlike IRAs, transfers are required to be reported on ESAs.
May 31, 2018 * 5498 Contribution to IRA and Roth IRA accounts. Note: Unlike Traditional IRA and Roth IRA accounts, the IRS requires SIMPLE and SEP contributions to be reported on the 5498 in the year they are made IN, while Traditional IRA and Roth IRA contributions are reported in the year they are made FOR.
*If any due date falls on Saturday, Sunday, or a legal holiday, the due date is the next business day. (This applies to the 2017 year-end reporting.)
#The IRS has extended the due date for brokerage firms who issue their 1099s on a consolidated basis from January 31 to February 15 (i.e., the 1099-DIV, 1099-INT, 1099-OID, 1099-MISC, 1099-B, 1099-C, and 1099-CAP are all in one consolidated statement to the client). Since Stifel issues on a consolidated basis, our due date per the IRS guidelines is February 15.