Your Wealthfront account is invested in exchanged traded funds (ETFs) managed by outside firms and in individual securities if you have direct indexing or advanced indexing. Occasionally, some of the companies we purchase in your account for direct indexing and advanced indexing provide corrected tax information, requiring us to provide an updated Form 1099. Although less common, managers of the ETFs we use can also provide corrected tax information, which also requires us to provide an updated Form 1099. Lastly, dividends received and their qualification status may be adjusted as additional information is reported by the issuer. This year, in addition to routine corrections, there may be corrections due to our clearing firm transition. Any corrected documents will be posted to your Documents page. We will notify you of the corrected document via email and with a notification when you log in to your Wealthfront account.
Corrections are generally made beginning in late February and early March. Corrections are less likely – and less substantive – as the April 15th tax filing deadline nears. Corrections after March 31st are rare. Prior versions of your documents are retained and marked as archived for your reference.
Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.