Licensing Deadlines
TOMORROW! December 31, 2021: Annual Compliance Meeting requirement do for all registered reps.
Operations Deadlines
December 30th and 31st, 2021: IRA Distributions
December 31st, 2021 is the last day an EFT can be sent out of an IRA account as a 2021 distribution, if same day settlement is available.
If same day settlement is not available, EFT distributions must be processed and approved on December 30th in order to be reported in the 2021 tax year.
Distributions processed on December 31st as a check, will be reported in the 2021 tax year.
December 31, 2021: Fidelity Clearing & Custody Fee Processing and Balance Reminders – In order for a client to avoid the $35 non-qualified account custody fee, they must have one commissionable transaction settle in 2021 or have a $10,000 balance in the core money market fund on December 31, 2021.
Last trade date for 2021 regular way settlement is December 29, 2021.
December 31, 2021 & January 3, 2022: Fidelity Clearing & Custody – “Inactivity” Fee Assessed & Charged – Client accounts are assessed for eligibility/waiver of Custody Fee on December 31, 2021 and, if eligible, are charged the fee on January 3rd, 2022.
January 5-31, 2022: Securities Liquidations to cover Unpaid Fee Postings – ESI home office will begin the process of liquidating securities to cover unpaid fee postings related to the NFS IRA Custody Fee and non-qualified “Inactivity Fee”. Accounts with eligible securities will have trades placed to cover “debit” balances related to fee postings, as well as applicable transaction charges. Customer confirmations will be marked “To Cover Debit”. Representative’s will be charged the $25.00 service fee if ESI home office has to place trades
Holiday Phone Hours for ESI Call Center
1/3/2022 – National life closed, NYSE open until 4 – ESI phones close at 4:00 EST
Questions? We’re always here for your call! 1-800-344-7437Check out Life and Annuity Important Dates Here!
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