Step Up
What account type requires an inherited shares form?
Trust
What does a client need to do to have gift indicators removed from a transfer?
The donor must submit an LOI
In what case will vanguard provide allocation services?
flagship, voyager, core with 50 Gs or above in vanguard assets or system defect
true or false - clients can provide instruction after the trade settles?
False
What screen in maxit is used to see what method the client is in?
Open/Closed
Vanguard will not do a step up for the client if the shares were _____?
held at a contra firm at the DOD
The client is disputing cost basis for shares that transferred in from a contra firm. Will we update the cost basis based on the clients information?
No
What three things are needed to update a clients cost?
Cost, quantity and acquisition date
What is the name of the form a rep can fill out for a clients spec id instructions?
NT Form
What is the only method available for non-cover mutual funds?
average cost
Individual accounts are eligible for what ___% step up and what key components would make a joint account eligible for an automatic step up?
100%, two owners that are spouses and us citizens
Are transfers from vanguard charitable eligible for gifts? why or why not?
No because vanguard charitable is an endowment account which is not eligible
What is calculated at the beginning of the year and can lower cost basis?
Return of capital
What is required for client to have in good order spec ID instructions?
Cost, quantity and acquisition date along with specifics of sale or transfer
What is the only ways for a client to switch to or from average cost?
online or by writing
For a client to have a step up removed they will have to provide _____ to Vanguard?
an LOI stating to have the step up removed
If cost was successfully sent to a contra firm what will be showing in DMI RAD?
Cbrs-export
CLTF in DMI is used for?
Share class conversions within TA or P1 (same TIN) conversions
Tea leafs can be pulled up to ___# of days after settlement and after tea leafs you can request ____?
90 days and GRA
Which of the following is not considered a disposition of shares?
1. Sale
2. Etf conversion
3. Fee
4. share class conversion
4. share class conversion
For an alternative evaluation a client can pick a date within what date range of the DOD?
range 6 months after DOD
What does vanguard do our self’s to inform the contra firm that cost basis was never received?
on day 15 we send a reminder and on day 30
If there is a share imbalance there is probably a _____ in _____?
Undefined line in DMI
If a client goes through a divorce how long do they have to Spec ID transfers going out of the account?
there is no settlement in this case
What two client segments can request min tax?
PAS and UNHW