Import Spreadsheet Format Guidelines for Tax Year 2018

We’ve created Excel import spreadsheet templates to help you easily upload all of your 1095-B and 1095-C, 1099, and W-2  data. These templates are identical to the official IRS forms so that you can enter the information just as you would on paper.  Continue reading Import Spreadsheet Format Guidelines for Tax Year 2018

What is a Transfer Agent?

When completing your 1099 series forms, you’ll find that it asks you to name the Payer’s Transfer Agent, if applicable. In many cases, you can find the name and information of your company’s Transfer Agent under the investor relations section of a company’s website.

In short, a Transfer Agent is appointed by a company to keep track of who owns the company’s stocks or bonds and how those stocks and bonds are held. While most Transfer Agents are banks or trust companies, a company could act as its own Transfer Agent.

The Securities Exchange Act of 1934 defines a Transfer Agent as any person who engages on behalf of an issuer of securities or on behalf of itself as an issuer of securities in:

  1. countersigning such securities upon issuance;
  2. monitoring the issuance of such securities with a view to preventing unauthorized issuance (i.e., a registrar);
  3. registering the transfer of such securities;
  4. exchanging or converting such securities; or
  5. transferring record ownership of securities by bookkeeping entry without the physical issuance of securities certificates.

The term ‘‘transfer agent’’ does not include any insurance company or separate account which performs such functions solely with respect to variable annuity contracts or variable life policies which it issues or any registered clearing agency which performs such functions solely with respect to options contracts which it issues.

Any person performing any of these functions to registers with the Securities and Exchange Commission or other Appropriate Regulatory Agency (“ARA”). Once registered, either compulsorily or voluntarily, the Commission “is empowered with broad rulemaking authority over all aspects of a transfer agent’s activities as a transfer agent.” Continue reading What is a Transfer Agent?