Why did I receive two 5498s for the same account this year?

In spring of 2017, we brought our brokerage and banking platform in house from Apex Clearing to provide a better client experience. If you had a Wealthfront account before we made the move, you could have contributed to your IRA both before and after. This means you will receive two Form 5498s for your contributions - one from Apex Clearing detailing activity for the first half of the year and another from Wealthfront detailing activity for the second half of the year. Going forward you should only receive one per year from Wealthfront.
You may notice that your Apex Clearing 5498 reflects a Fair Market Value of $0. That's because the full balance of your IRA at Apex Clearing was transferred to Wealthfront Brokerage, leaving it with a year-end balance of $0.
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