Your Wealthfront account is invested in exchange traded funds (ETFs) managed by outside firms, a mutual fund if you have the Risk Parity Fund, and in individual securities if you have US Direct Indexing (previously known as Stock-level Tax-Loss Harvesting) or Smart Beta. Occasionally, some of the companies we purchase in your account for US Direct Indexing and Smart Beta issue corrected tax information, requiring us to provide an updated Form 1099. Although less common, managers of the ETFs we use can also issue corrected tax information, which also requires us to provide an updated Form 1099. Occasionally, clients with the Wealthfront Risk Parity Fund may receive corrected tax information. Lastly, dividends received and their qualification status may be adjusted as additional information is reported by the issuer. 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 generally less likely — and less substantive — as the tax filing deadline (typically around April 15) nears. Corrections after March 31 are rare. Prior versions of your documents are retained and marked as archived for your reference.
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