Help Center

  • Why did I receive a schedule K-1 (K1) tax form?

    We’re very sorry for any confusion. Brookfield Renewable Partners {BEP} & Enviva {EVA} are two companies in our Impact 400 portfolio that issue a K-1 as a tax form. A K-1 serves a similar purpose as a 1099 tax form. These two companies issue a K-1 because of the way that their business is constructed (they are formed as MLPs vs an LLC, C-Corp etc.).

    Since these two companies comprise a small fraction of our Impact 400 portfolio, you can disregard the K-1's and do not have to file them as you would with a 1099 or other tax forms. If you have any further questions, we recommend consulting a tax advisor for specific guidance.

  • Why do I have to wait until March 1st to get my tax docs?

    The short answer is that many investment firms issue tax documents in mid-to-late February. By waiting until around March 1st, we ensure that the most recent investment information is captured in your tax documents, including dividend payouts and any company-specific events like mergers and acquisitions. While this doesn't guarantee that you won't receive a restated tax form, it minimizes this chance.

    This change, which many firms have adopted, is the result of a law change and IRS report from 2009 which noted that because a significant number of investors were receiving restated forms, the deadline for tax documents should be pushed into February. You can read more on the IRS website here.

  • When will my tax documents be available?

    For any taxable accounts or IRAs with withdrawals, the first tax documents will post by March 1.

    As soon as your tax document(s) become available, we will email you -- and you can then access them by selecting “Tax Documents" within “Settings & Info” when logged into your account.

  • What file formats does Swell offer for their tax forms in?

    We provide you with PDFs of your tax forms. Folio Institutional, our broker-dealer, can provide your tax statements in a broader range of formats. To learn more about accessing your Folio account, please log in to your Swell Account and select “Brokerage Account Details” from “Settings & Info” in the navigation bar.

  • I closed my Swell account. How do I access my tax documents?

    Your tax documents will be available on March 1st. (By waiting until around March 1st, we ensure that the most recent investment information is captured in your tax documents, including dividend payouts and any company-specific events like mergers and acquisitions. While this doesn't guarantee that you won't receive a restated tax form, it minimizes this chance.)

    You can access the documents once they're available by selecting “Tax Documents" within “Settings & Info."

    Alternatively, you can also access your tax documents by logging in to your Folio account at www.folioinvesting.com to see your tax documents. Folio Institutional is Swell's broker-dealer. To log in, please enter your Login ID (XXX) as your username and click on the "forgot password" link. You will receive an email directing you to set your password and log in to the Folio site.

    Once you've logged in, you'll see a link that reads "Statements & Tax Records" -- you'll be able to access your documents by clicking this link.

  • I have a lot of transactions on my tax files, do I have to upload all of them to the tax service I'm using?

    You should really only need to refer to the first page of your 1099 -- but we recommend speaking with a tax advisor if you need anything more specific.

  • When is the last day I can make a prior-year contribution to my IRA?

    Any prior-year contribution(s) to an IRA must be deposited and processed before the tax deadline of April 17, 2019. This means that your deposit must be made by April 12th so that our broker-dealer, Folio Institutional, can execute trades in time.

  • Can my CPA access my tax documents?

    In the interest of protecting your account and personal information, we do not allow anyone to access your account other than you.  

    You can access your tax document(s) by logging into your account and selecting “Tax Documents" within “Settings & Info”. Once you download the document, you can provide it to your CPA.

  • Can I get my tax documents mailed to me?

    In the interest of saving paper, we make electronic copies of your tax documents available to you via your Swell profile. You can access these by selecting “Tax Documents" within “Settings & Info” when logged into your account.

    If you’d prefer that we mail you a copy of your tax documents, shoot an email to our Investor Relation team requesting a hard copy of your documents, along with a confirmation of the address that you would like us to send them to.

  • Which tax documents should I be expecting?

    Depending on the type of account(s) you have with Swell, you should expect the following document(s):

    • For a Swell Flexible account (standard taxable account) with dividends or realized gains/losses, we’ll post a Consolidated 1099. Please note that some taxable accounts will have 2 Consolidated 1099s this year.
    • For any IRAs (Traditional, Roth, or SEP) with any distributions/withdrawals (meaning that you have reached the age of 59½ and have begun taking money out, or you’ve taken money out early and are subject to penalties), we’ll post a 1099-R.
    • For any IRAs with contributions/deposits, we'll post a form 5498 (this won't be available until late May because you can contribute to an IRA through mid-April). Please note that a Form 5498 is for informational purposes only. You are not required to file it with your tax return.
  • When can I make a prior-year contribution to my Swell IRA?

    If you have not hit your IRA contribution limit for the previous year, you can make a prior-year contribution to your IRA between January 1st and April 12th.

    Please note that if your contribution is made after the 12th of April, we cannot guarantee that it will be deposited in time to be coded as a prior-year contribution.

  • Do I have to pay taxes on any money that I make from my Swell account?

    Taxes vary by type of account. For flexible accounts, you may be subject to capital gains taxes. A capital gain occurs when you sell something for more than you spent to acquire it. This happens a lot with investments - and the length of ownership matters. If you sell an asset after owning it for more than a year, any gain you have is "long-term" capital gain. If you sell an asset you've owned for a year or less, it's a "short-term" capital gain. The tax rate applied to short-term gains is significantly larger than that from long-term gains. Here is Investopedia’s definition for capital gain (and loss) -- we really like their definition as it’s straight-forward and relatively jargon-free.

    For IRA holders, it depends on the type of account you have -- i.e., Roth vs traditional. With a Traditional IRA, you can deposit pre-tax dollars and pay the tax upon withdrawal. With a Roth IRA, post-tax dollars are deposited into the account and the funds are not taxed during a withdrawal.

  • When and where will my tax forms be available?

    Swell's broker-dealer, Folio Institutional, provides tax documents annually at the beginning of March. Once they're available, you can access your tax documents by selecting “Manage Accounts" within “Settings & Info” when logged into your Swell account. You'll see an option to view your Tax Documents on the following page.