Please see Fidelity’s Tax Communication Strategy and Training Resources and Tax Form Mailing Calendar for important information on tax deadlines. These dates are subject to change and an updated form can be found in Wealthscape> Learning Hub> search Tax Form Mailing Calendar.

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TD Ameritrade will issue 2018 Consolidated 1099 forms online in a three-wave strategy: Wave 1 – Posted ONLINE by Jan. 18, 2019 (Accounts that do not hold any funds deemed likely to reallocate their income/dividend distributions) Wave 2 – Posted ONLINE by CLOSE OF BUSINESS Feb. 7, 2019 (Accounts that hold funds that finalized their…

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Beginning December 13, Fidelity will no longer require the 4 day pre-note period while setting up standing payment instructions. As of this date, bank account status and account ownership verification will be conducted in real-time. Please see Important Notice 18-376 for more details, and contact the AEWM Support Team with any questions.

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TD Ameritrade has made updates to its Beneficiary IRA forms. Please review the updates below and contact AEWM Support with any questions.   Beneficiary IRA Applications Initial and ongoing source of funding has been removed from the applications. These were previously included in the Customer Due Diligence (CDD) section of the applications. TD will continue…

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The Money Movement release offering 3rd party EFT Common was made effective on November 5, 2018. Fidelity has updated the definition of 1st and 3rd party for EFT transactions. The basic definitions are listed below, but you can view the entire notice from Fidelity HERE. AEWM is awaiting notice regarding if any form updates will be…

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Effective October 9, Fidelity is updating the definition of 1st and 3rd party for EFT transactions. The basic definitions are listed below, but you can view the entire notice from Fidelity HERE.   1st Party: All owners on the brokerage account are also owners on the bank account. This automatically allows for disbursements and receipts to/from…

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Journal Changes Fidelity has updated current standing instructions for journals to 1st or 3rd party based on new rules. Important Notices: 18-262 and 18-291 break down the new journal 1st and 3rd party rules. A couple of things to remember: Fidelity will be systematically updating the existing instructions to either 1st or 3rd. If an…

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Fidelity will send out letters regarding RMDs the week of Sept. 17, 2018.  Review the notice and a sample letter HERE.

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On July 11, AE Wealth Management updated the Asset Movement Authority (AMA) levels on all client accounts from Level 2 to Level 1 (first and third party). This was completed after Fidelity reviewed each AMA level and deemed that AMA Level 2 constituted custody of client funds. This new level of AMA will still allow…

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Money Movement Enhancements Fidelity has updated its policy regarding creating first-party standing instructions. They have also updated their Standing Payment Instructions Form to incorporate the changes. Important changes to note include: To set up EFT instructions, a voided check, statement or deposit slip with all account owners’ names will be required. Any third-party standing instructions…

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