FAQ

• When will my tax documents be available?
  • Retirement account (IRA, Roth, etc.) documents will be available by January 31st.
  • Non-retirement account (NQ, joint, individual, etc.) documents will be available by February 28th.
• Why didn’t I get any tax documents?
  • Refer to the flowchart above. In many cases, the reason is that the account is an IRA and no withdrawals were taken during the tax year.
• What is Form 5498 and what do I do with it?
  • Form 5498 reports contributions made to your IRA for the prior tax year and is usually issued in May.
  • You do not need to file it with your return, but keep it for your records. If you made a contribution, your tax preparer may use it to verify the amounts. 
• What if I sent money from my IRA to a charity (QCD)?
  • Distributions from your IRA will be reported on your 1099-R in Box 1, with Box 2b checked, “taxable amount not determined”. 
  • Inform your tax preparer that you did a QCD from your IRA and provide receipts from the charity. 
  • If you file yourself, your tax software should prompt for more details about IRA distributions. This is where you can provide the QCD details. 
• What if I did a Roth conversion?
  • A Roth conversion will be reported on the 1099-R for your IRA, generally the amount will be included in Box 1.
  • Inform your tax preparer that you completed a Roth conversion so it is reported correctly on your return.  
• Why does my 1099 list National Financial Services?
  • National Financial Services (NFS) is the clearing and custody company for Fidelity Investments.
  • Fidelity accounts are often held and reported under National Financial Services for tax and reporting purposes. Even though the name may look unfamiliar, this is normal and still reflects your Fidelity account activity.
  • Be careful not to confuse Fidelity & Guaranty (F&G) with Fidelity Investments! 
• What documents do I need to keep on file?
  • See checklist What Documents Do I Need to Keep on File?