National Financial Services LLC Customer FAQ

This situation can occur if you had an income-related event in your account like dividends or sales of securities. Sometimes, even if you reinvest these earnings, they’re considered income by the IRS, and you'd receive a 1099 form. If you think there's an error, you should review your account activity and contact your financial advisor or the entity that issued the 1099 form. Errors in reporting could cause unneeded scrutiny from the IRS, so it's crucial to address discrepancies promptly. This would also give you an opportunity to understand how and why the reported income occurred.

The 1099-R form for tax purposes is typically sent by National Financial Services LLC to those who have taken distributions from pensions, annuities, retirement plans, IRAs, or insurance contracts. These forms are usually sent out by January 31st of the year following the distribution. If you have not received your 1099-R form, or if you need a new copy, you should get in touch with National Financial Services LLC directly. They can provide you with the assistance necessary to obtain a new or replacement 1099-R form.

Hmmm... we're not sure about that. You should consult with a tax professional or contact the payer directly for further clarification on this matter. It may be a miscommunication or error that needs rectifying. Ensure that you keep all your paperwork and records in a safe place for future reference.

To set up a direct transfer of your Required Minimum Distribution (RMD) to a charity, you would generally need to contact the company where your retirement account is held. You need to specify the charity, the amount to be transferred, and ensure the process is marked as a Qualified Charitable Distribution. This should be done before taking your RMD for the year. For specific instructions or forms, kindly contact the customer service or consult with a financial advisor from the company where your retirement account is held. This would ensure that you are following the correct process for National Financial Services LLC.