Another reason Schwab sucks versus TD Ameritrade

[MWmetalhead]

I just learned my Schwab brokerage account 1099 forms won't be ready until - get this - February 28!!

TD Ameritrade without fail always had the forms ready by January 31.

Upon doing some research, I learned Schwab has had issues with 1099 accuracy in years past, so a number of years back, they decided to defer 1099 form issuance by several weeks to reduce the need to issue amended 1099s.

This is an annoyance. My Fidelity acct forms were fully available as of this morning. I was planning to file my 2024 tax returns next weekend; now I have no choice but to wait.

[Rate This]

I'm no institutional investor... I just stuck a few dollars in a Robinhood account a few years ago.. Their version of this won't be out until February 18. My fairly simple tax return is all ready to go except for that number from them.

[Realist]

If it’s any consolation prize, my Edward Jones 1099 won’t be ready until 2/12. Wanted to do my taxes next week and will also have to wait

[moldyoldie]

Vanguard had 1099-DIV for taxable accounts available on Jan. 28, three days before stated.
1099-R for retirement accounts were available in mid-January, at least for me.

[TC Talks]

Vanguard has always been a great company.

[moldyoldie]

Vanguard has always been a great company.

I've read and heard complaints about their customer service, but on the very few occasions I've had to call them there were no problems whatsoever. I'll admit they aren't for folks who want a lot of bells & whistles.
They have a new CEO who came from Blackrock, the first ever for Vanguard from outside the organization.

[WC8KCY]

I just learned my Schwab brokerage account 1099 forms won't be ready until - get this - February 28!! ...

...This is an annoyance. My Fidelity acct forms were fully available as of this morning. I was planning to file my 2024 tax returns next weekend; now I have no choice but to wait.

This is puzzling, to be sure. My Schwab 1099 was in my mailbox on 3 February.

Here's hoping that this is a one-time-only delay.

[MWmetalhead]

I've learned the issuance date varies depending on the type of holdings in the brokerage account. Schwab issues its first round of 1099 statements at the end of January, its second round in mid February, and its final round at the end of February.

I did not hold any exotic investments in my account at any point in 2024, so the late issuance in my case surprises me. I know master limited partnerships can often be very slow in issuing tax forms, but I did not hold any public traded master limited partnership units in 2024. I also did not hold any cryptocurrency or stocks traded on foreign exchanges at any point.