The Dispatch

Year-End Processing Deadlines

To ensure that requests with tax implications are completed by Friday, December 29, 2023, your requests must be received by us in good order by Friday, December 8th. Requests received after this date will be completed on a best-efforts basis.

Consistent with IRS requirements, tax reporting is performed for the year the distribution is processed. Distributions and Roth IRA conversions cannot be backdated to reflect a previous tax year. Please ensure your staff is familiar with these time frames to ensure the timely processing of requests.

Best Practices

• Deposit funds via ACH or wire for the fastest processing. When sending a check, always send it directly to the custodian to avoid delays and retain a copy of the check. Click here for each custodian’s deposit instructions and mailing addresses.
• Avoid potential delays by entering Raise Cash service requests directly in Freedom Advisors here before submitting distribution requests. Distributions cannot occur until after trades have settled.
• Avoid potential delays by ensuring clients approve new bank links, third party wires or other actions where custodians require clients to log onto the custodian’s website to review and approve. Let us know if we can assist with this process.
• Roth Conversions require additional handling; avoid potential delays due to high volume by submitting these requests as early as possible.

Click here to access custodial and Freedom Advisors forms.

Sincerely,

Advisor Services
Freedom Investment Management, Inc.