Your Wealthfront account is invested in exchanged traded funds (ETFs) managed by outside firms and in individual securities if you have Stock-level Tax-Loss Harvesting or Smart Beta. Occasionally, some of the companies we purchase in your account for Stock-level Tax-Loss Harvesting and Smart Beta 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.
Wealthfront prepared this article for informational purposes and not as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information.
Wealthfront and its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisor. Financial advisory and planning services are only provided to investors who become clients by way of a written agreement. All investing involves risk, including the possible loss of money you invest. Past performance does not guarantee future performance.