Tax Center
2025 Tax Year Guidance
Timing
If you plan on filing your taxes by the April 15, 2026 deadline, depending on your circumstances, it may be advisable to wait until later in February or March to provide your tax preparer with your tax reports. Investment companies occasionally issue amended Form 1099s, and filing later helps ensure that you have the most accurate information. Additionally, check with your tax preparer to confirm their preferred timing for receiving your documents.
Security
To safeguard against identity theft when filing your Form 1040, the IRS recommends enrolling in the Identity Protection PIN (IP PIN) Program. An IP PIN is a six-digit number assigned to eligible taxpayers to help prevent unauthorized use of your personal information in filing fraudulent returns. If the IRS identifies you as a potential victim of identity theft, they will automatically issue you an IP PIN annually. Learn more about the IP PIN program and how to enroll here.
2025 IRA and Qualified Retirement Plan Distributions
Custodians of IRAs and qualified retirement plans are expected to issue Form 1099-R to recipients by January 31, 2026, reporting distributions and any taxes withheld during the 2025 tax year. Retain this document for your records and share it with your tax preparer to ensure accurate tax reporting.
2025 IRA Nondeductible Contributions
If you ever made a nondeductible contribution to an IRA, you must file Form 8606 Nondeductible IRAs along with your Form 1040. This form reports the tax basis of your IRA to the IRS, ensuring that the nontaxable portion of future IRA distributions is properly documented. Tracking the tax basis of your IRA is the sole responsibility of the taxpayer, not the IRS or your IRA custodian. Be sure to inform your CPA or tax preparer if you made a nondeductible contribution during the tax year to ensure accurate reporting.
Qualified Charitable Distributions (QCDs)
Form 1099-R issued by your IRA custodian will not specify the amount of Qualified Charitable Distributions (QCDs) made from your IRA in 2025. To ensure accurate reporting, provide your tax preparer with a detailed list of all QCDs made during the year. They may also request copies of the acknowledgment letters you should have received from the charitable organization(s). This will help properly reflect these distributions in your filing.
- If you directed your IRA to make a QCD in 2025, we will provide you with documentation reflecting distributions that we assisted in processing with you and the custodian.
- If you issued checks from your IRA for QCDs, we recommend reviewing the check register and providing your tax preparer with these details.
Form 5500 and Form 5500-EZ
If you are the plan sponsor for an individual (or solo) 401(k) plan with more than $250,000 in assets as of the last day of the plan year, including your contribution(s) for 2025 that you make in 2026, you may be required to file either a Form 5500 or Form 5500-EZ- depending on your circumstances- with the IRS. For plans with a December 31 year-end, the filing deadline is July 31, 2026. We recommend that you consult with your tax preparer to ensure timely filing.
Alternative Investments
If you own an alternative investment, you may receive a Schedule K-1 that reports your share of an entity’s taxable income, deductions, credits, etc. Given the nature of these investments, Schedule K-1s are generally issued later in the year and may necessitate the need to file an extension.
Federal Tax Payments
The Internal Revenue Service will no longer be issuing paper checks for refunds. They will be issued either through direct deposit or by debit cards. Further, although an effective starting date has not yet been announced, they will eventually also no longer accept paper checks for tax payments. Please coordinate this with your tax preparer. Check the IRS website for more information.
Transferred/Closed Accounts
Closed Accounts: If you closed a brokerage account during 2025, a Form 1099 could still be generated for that account. Please check with the custodian of the closed account or your Modera team if you do not receive the document.
Transferred Accounts: If you transferred an account from one brokerage firm to another during 2025, you may receive two Form 1099s; one from the former firm and one from the current firm.
Please do not hesitate to reach out to your wealth manager if you have any questions.
Custodian Mailing Schedule For 2025 Tax Reports
Our recommended custodians have provided us with the following estimated mailing dates for your 1099s and other tax-related documents. Please note that the dates are estimates and that actual mailing dates may vary. In addition, custodians may send corrected Form 1099s, which should be forwarded to your tax preparer upon receipt.
For clients who transferred accounts between custodians during the year, such as from one brokerage firm to another, you may receive tax forms from both your previous custodian and your current custodian. This applies to any mid-year changes in custodianship.
Charles Schwab
1099 Composite (INT, DIV, BROKER PROCEEDS, etc.)
- Phase 1: Typically, January 31, 2026 – for accounts with complete tax data.
- Phase 2: Typically, February 14, 2026 – for accounts requiring additional issuer data.
- Phase 3: February 28, 2026 – final wave, especially for accounts with mutual funds, REITs, or UITs that reclassify income.
1099-R (Retirement, IRA, and Annuity Distributions
- Available by January 31, 2026
Important Note: Schwab does not strictly call these “first” and “second” mailings anymore—it’s a phased release schedule.
Consolidated 1099 (INT, DIV, BROKER PROCEEDS, etc.)
- Fidelity issues multiple waves of 1099s, generally between late January and late February 2026.
- The exact number of waves (often 3–4) depends on when issuers finalize reclassification data.
1099-R (Retirement, IRA, Annuity Distributions)
- Typically available by January 31, 2026, in line with IRS deadlines.
Important Note: Fidelity emphasizes electronic availability first; mailed copies may take longer.
