LPL Financial began mailing consolidated 1099s on January 31st using a staggered mailing schedule. In order to minimize correction forms, holders of securities that may be subject to income reclassification (REIT, UIT, foreign security or municipal bond funds) had their consolidated forms mailed starting February 15th.

As it's common for investment companies to amend tax information, we will request a supplemental mailing extension for investment companies that don't furnish tax information to us in time for its own February 15th mailing deadline. Holders of securities impacted by delayed tax information will have their consolidated 1099 form mailed by March 15th.

Even with LPL's staggered mailing system, further delayed reporting and reclassification received from the security issuer can sometimes occur, which will result in having to send corrected 1099 forms. There is no IRS cutoff or deadline for providing you with corrected 1099 statements so if possible, we recommend waiting to file closer to the April 15th deadline to avoid having to make any adjustments to your taxes.