Access to historical statements
All historical statements can be found in the Innovue portal. Credentials for access have not changed.
Delivery of 2022 1099s
Forms 1099-B, 1099-DIV, and 1099-INT
If you have taxable accounts with Trust Company for which securities were bought or sold in 2022, and/or which generated more than $10 of dividend or interest income in 2022, you will receive in the coming weeks via the U.S. Postal Service a separate packet for each of your taxable accounts containing the 1099-B, 1099-DIV and/or 1099-INT for that account as applicable. Please note that the 1099 forms are mailed as soon as the data is finalized. Therefore, if you have multiple taxable accounts with Trust Company, it is possible that you will receive the 1099s for different accounts at different times, depending on when the data for that account is finalized.
Please note that we will not be sending the 1099-B, 1099-DIV or 1099-INT by the IRS-stipulated deadline of January 31, 2023. This is because Regulated Investment Companies – such as mutual funds or real estate investment trusts (REITs) – may not be able to provide Trust Company with the pertinent information, particularly in the areas of qualified dividend income and capital gain classification, needed to prepare and distribute certain 1099s to our clients by the January 31, 2023 deadline. Rather than sending preliminary Form 1099s by January 31st, and then sending corrected forms at a later date, Trust Company has filed an extension with the IRS, allowing us to wait until all data has been received and processed before preparing and distributing the 1099s.
If you received a distribution in 2022 greater than $10 from a profit-sharing plan, retirement plan, IRA or pension plan held at Trust Company of the South, a Form 1099-R will be mailed to you by January 31, 2023.
If you have an IRA with Trust Company, you will receive via the U.S. Postal Service a Form 5498 in May. This form reports contributions, required minimum distributions and the fair market value of the account, and is for your records only and does not need to be filed with your tax return.
Digital Access to Tax Forms
We are currently working on providing digital access to 2022 tax forms via the vault feature in our new wealth management platform Black Diamond. We will provide further information and details at a later date.
Should you have questions, please contact the Administrative Manager in the office where your Wealth Advisor is located:
Anna Kate Fuller, Greensboro
Kate Seagraves, Raleigh
Monika Pearson, Charlotte