TD Deadlines for 2020 Year End

We ask that all time-sensitive requests that must be processed and recorded for tax year 2020 be submitted in good order to TD Ameritrade Institutional for processing by Monday, December 21, 2020. Requests submitted after that date will be honored on a best-efforts basis. We will make every effort to ensure that requests submitted in 2020 are processed as quickly as possible.

REMINDER: 2020 RMDs are waived, in accordance with the CARES ACT enacted in March 2020.

If you have clients who want to take a distribution for tax year 2020, TD Ameritrade Institutional must receive a completed distribution form no later than Monday December 21, 2020. This is necessary to ensure that the December 31 deadline is met and the distribution is reported in tax year 2020. As such, please submit your One-Time or Recurring Partial Distribution Requests to XYIS Support by December 18th. 

REMINDER: The deadline to take a COVID-Related Distribution (CRD) is December 30, 2020, NOT December 31, 2020.


Deadline for Roth IRA Conversions: Clients must submit a Roth Conversion Form in good order by December 21, 2020. Forms received after that date will be processed on a best-efforts basis. Please note that Roth Conversions are irrevocable in nature and cannot be reversed once processed. Please submit your Roth Conversion Requests to XYIS Support by December 18th.

Deadline for Establishing a 2020 QRP: Qualified Retirement Plans for 2020 must be established by the plan sponsor's tax filing deadline plus extensions. The deadline to establish the plan is no longer December 31, in accordance with the terms of the SECURE ACT.

Deadline for Removal of Non-Marketable Securities: To have non-marketable securities removed from your clients' accounts by the end of the calendar year, please submit your request by 4 p.m. ET on December 21, 2020. Requests submitted after that time will be processed on a best-efforts basis. Submit your requests by calling the Institutional Trade Desk at 800-400-6288, option 1.

Charitable Gift Deadlines*

  •   December 18, 2020: Gift requests of mutual funds**

  •   December 18, 2020: Gift requests between accounts custodied at TD Ameritrade

  •   December 18, 2020: Gift requests of cash delivered via check and/or federal funds wire

  •   December 18, 2020: Gift requests of equities and fixed-income products to external accounts

* Important Information on Charity Gifting: Please have your client notify the charity that these assets are on their way, and also indicate, in the request to us, whether we are permitted to share donor information with the receiver. In addition, clients arranging to send a check to a charity should be sure to confirm the address.

** Mutual Fund Charitable Donation Requirements: Due to the nature of processing charitable mutual fund deliveries, your clients will need to provide the following information with each request, to help us process their transaction in a timely manner:

  •   Mutual fund symbol or CUSIP

  •   Number of shares your client would like to donate

  •   Mutual fund account number at the receiving firm

  •   Client account number at the receiving firm

Direct Registration of Securities (DRS) Requests

  •   December 18, 2020: Requests to Transfer Agents to send or receive DRS-eligible assets

1099 Cost Basis Preferences: If you have previously made an election to display non-covered cost-basis information on your clients' 1099-B forms, those same elections will be applied this year. If you would like to review or change your current elections, please log in to Veo One before January 6, 2021, and go to Setup & Admin > Preferences > Preferences Cost Basis.

If you have any questions about these activities, please contact support@xyinvestmentsolutions.com or call us at (360)-301-7579.