Form 1099 Tax Information
New this year, BNY Pershing has increased the frequency of production and delivery of Form 1099 tax statements, which will be delivered weekly beginning January 31, 2025. When you receive your Form 1099 depends on the holdings in your account.
Mailing Schedule
January 31, 2025: accounts with holdings and income that typically do not require reclassification or additional information from issuers. Generally this includes accounts holding stocks, bonds, and options.1
February 7, 2025 (new for 2024): accounts that include mutual funds, REITs and certain equities for which issuers have finalized reporting and BNY Pershing has completed processing after the February 7 delivery.1
February 14, 2025: delivery will continue for accounts that include mutual funds, REITs and certain equities for which issuers have finalized reporting and BNY Pershing has completed processing after the February 7 delivery.2 Pending 1099 Notices will be delivered for accounts where BNY Pershing is still waiting data from issuers or in cases where BNY Pershing has not completed processing and review of all information. The notice will list investments that are awaiting information from issuers or trustees or final review and will indicate the possible delivery date of an investor’s 1099.
February 21, 2025 (new for 2024): delivery will continue for accounts that include mutual funds, REITs and certain equities for which issuers have finalized reporting and BNY Pershing has completed processing after the February 14 delivery.3
February 28, 2025: accounts that include mutual funds, REITs and certain equities for which issuers have finalized reporting and BNY Pershing has completed processing after the February 14 delivery.3
March 7, 2025 (new for 2024): accounts for which BNY Pershing can now include information that has been finalized from issuers of mutual funds, REITs, and remaining unit investment trusts (UITs) and BNY Pershing has completed processing after the February 21 delivery.3
March 15, 2025: all remaining accounts, regardless of whether pending income reclassifications for the account’s income have been received from issuers. This delivery will also include accounts holding complex non-equity securities, such as real estate mortgage investment conduits (RIMICs), WHFITs and UITs.3
For more detailed information regarding the timing, review page 3 of the 2024 Tax Guide from BNY Pershing.
Corrected 1099 Form will be mailed as needed.
You may receive a corrected Form 1099. There are several reasons for this – for example, issuers of securities held in your account may provide updated or additional information after your Form 1099 is mailed to you. The IRS requires financial organizations to send corrected forms with revised information as it becomes available.
Want quicker access to your Form 1099? Enroll in electronic delivery (eDelivery). Log-in to your account to sign up for access or contact Lynne Davidson for assistance at 316-776-4633.
1. Financial organizations, like BNY Pershing, are responsible for Form 1099 reporting and must rely on issuers of securities for your tax information. BNY Pershing provides tax reporting services on behalf of your financial organization. Holding only these types of securities does not guarantee that your tax statements will be delivered on the indicated date.
2. BNY Pershing’s annual practice is to request and obtain an extension from the IRS to the February 14 date on which they are required to delivery IRS Form 1099 (B, DIV, INT, OID and MISC).
3. BNY Pershing’s 30-day extension to the delivery requirement will accommodate these delivery dates.
