2023 Year-End Deadlines

As we approach the end of 2023, we’d like to share some helpful information regarding year-end deadlines. Requests received after the deadlines listed below will be processed on a best-efforts basis. Schwab has announced that requests must be received in good order by December 1st to guarantee processing. We're asking that you submit all time sensitive requests to XYPN Invest by November 28th (but the earlier, the better!)

New Accounts:

To establish an account before the end of 2023, please submit paperwork in good order before November 28th. Currently, new account openings are taking between 4-5 business days upon custodian receipt. We expect those timelines to increase as we approach year-end. Any requests received after this date will be reviewed and processed on a best-efforts basis. Please allow additional processing time if the accounts need to be funded or distributed from before the end of 2023.

Roth Conversion Requests:

Please submit 2023 Roth conversion requests for existing accounts by November 28th.

Required Minimum Distributions:

The deadline to submit RMD requests is November 17th.

Best Practices:

  • Custodians are expecting heavy volumes so please submit requests as early as possible.
  • Ensure forms have valid client signature(s) and date(s), and that all pages of forms are submitted.
  • Verify tax withholding information on all distribution/conversion forms.
  • Conversions can be cash or in-kind.

Holiday Hours:

Please note our holiday schedule and early closures.

  • November 20-22 – Closing at 2:00 p.m. MST
  • November 23 – Closed
  • November 24 – Closed
  • December 18-22 – Closing at 2:00 p.m. MST
  • December 25 – Closed
  • December 26-29 – Closing at 2:00 p.m. MST
  • January 1, 2024 – Closed

Wishing you and your family a healthy and joyful holiday season from the team at XYIS!

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