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TCA clients: Sign up for e-statements and avoid fees

Effective June 30, 2017, Trust Company of America (TCA) will charge for paper statements on all Strategic Solutions accounts.

If you sign up for e-delivery of your quarterly statements before June 30, 2017, you will avoid a quarterly $5.00 print and delivery fee from TCA. Signing up for e-statements helps the environment, reduces clutter, and allows you to access and store your statements safely and securely online. Simply log in to sign up.

Tax information

Each year we get questions from reps and tax preparers about how to handle transaction data for taxable accounts. While Flexible Plan does not provide tax advice, the following procedural information may be useful.

To avoid having to enter each buy/sell transaction, you can use one of the following methods:

  • Trust Company of America (TCA) integrates with Turbo Tax, allowing you to download the data directly into the software program. TCA also provides the 1099-B tax data in CSV/spreadsheet format, which can be used with other software programs.

  • Totals can be entered on Schedule D, and a hard copy of the 1099-B data can be submitted separately from the electronically filed return. Totals entered using this method could be labeled “Per schedule submitted with Form 8453.” You would then submit an IRS Form 8453 with the 1099-B tax data to the following address:

    Internal Revenue Service
    Attn: Shipping and Receiving, 0254
    Receipt and Control Branch
    Austin, TX 73344-0254

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To our In My Opinion readers:
Everything in the newsletter pertains to strategies available on our Strategic Solutions platform at Trust Company of America. The same strategies are implemented on many other products: mutual funds, variable annuity, variable life and retirement platforms. Therefore, we expect the strategic discussion may be of interest to you. Note, however, that since these products have their own subaccount and fund universes and different internal expenses, the results and trading of the same strategy on other platforms may differ substantially from those described herein.

In My Opinion: Managed Retirement Plan Participants:
Most of you are managed using Lifetime Evolution and our sub-advised funds, so those topics will be most applicable to your account. But, more and more of you are in plans using Market Leaders. If so, that newsletter section may interest you