Account Maintenance
True or False: A physical address that reflects where a client resides is NOT required.
What is False?
Primary Residence-The physical address that reflects where you reside for tax purposes. We require this information to ensure compliance with state specific investment rules and state tax withholding where it applies.
This form is meant for clients who have full mental capacity to designate an individual or entity to act with limited authority on their behalf.
What is The Vanguard Limited Agent Authorization (LAA)?
The amount per account that Vanguard assesses to Personal Investor Account Owners with less than $5M in Vanguard Qualified Assets or is not signed up for E-Delivery
What is $25 per Account?
True or False: Clients can elect electronic delivery of tax forms (paperless option), when they sign up to receive an email notifying them when their tax forms are available online
What is True?
True or False:
Military and embassy addresses should be entered on CrAVE as an International(Non-US) address. This includes the following locations:
Military (APO - Army / Air Force, FPO - Navy / Marine Corps / Coast Guard, and DPO - Embassy):
What is False?
Military and embassy addresses should be entered on CrAVE as a domestic address.
True or False: A Limited agent or the account owner cannot revoke the limited agent authority via phone.
What is False?
A Limited agent or the account owner can revoke the limited agent authority via phone, web, or in writing (received via fax or mail).
True or False: Accounts with an Agent Certification for Incapacitated Person (ACIP) are excluded from the Account Service Fee.
What is True?
True or False: Associates can send a client's tax forms to an email address.
What is False?
There is no way for Vanguard to send a client's tax forms to an email address. Tax forms contain client-specific information and must be sent to either a secure location (i.e. their SMC on vanguard.com) or to their mailing address via paper mail.
This is the status of a check that has been sent to a client and has been outstanding for 180 days or more and cannot be cashed. This check status is eligible for replacement.
What is Stale?
In order to use an ACIP (Agent Certification for Incapacitated Person ) Form, the agent must have been appointed by the account owner more than 30 days before becoming incapacitated through (What document?)
What is a Durable Power of Attorney?
In order to use an ACIP Form, the agent must have been appointed by the account owner more than 30 days before becoming incapacitated through a Durable Power of Attorney.
True or False: Taking the fee from the cash in the settlement fund in a nonretirement account does create a taxable event, so a tax form will be generated.
What is False?
Taking the fee from the cash in the settlement fund in a nonretirement account does not create a taxable event, so a tax form will not be generated.
Scenario: Client received a dividend payment in 2023 in the amount of $8. Client wants to know why they have not received their 1099-DIV for 2023 yet. Why has the client not received a 1099-DIV yet?
What is the amount is less than $10 for the year?
You'll need at least $10 in earnings
You'll get a 1099-DIV each year you receive a dividend distribution, capital gains distribution, or foreign taxes paid for your taxable investments.
But if the amount is less than $10 for the year, no 1099-DIV is sent.
What is True?
One form can be used to add multiple agents (clients can make copies of all pages of Section 5 and section 6 and attach it to the form to add multiple agents.)
This form is used for a third party to report a client's incapacity to Vanguard.
What is Vanguard’s Report of Incapacity Form (ROIF)?
The date range that Vanguard Brokerage Accounts (VBA) are assessed the Account Service Fee.
What is August 12-19?
True or False: Tax forms for accounts in RPO status will be mailed to the client, but these tax forms will not be available on Vanguard.com.
What is False?
RPO - Tax forms for accounts in RPO status will not be mailed to the client, but these tax forms will be available on Vanguard.com.
Scenario:
Client would like to establish a service that allows funds to be directly transferred to Vanguard from his paycheck/payroll on a weekly basis to a Vanguard account.
Name the service that we can offer to the client.
What is Direct Deposit?
All direct deposits are initiated by the sending institution after the client has given the sending institution the correct information which can include the direct deposit ID (known to sending institutions as “Account number”), routing number, and bank address if required.
True or False: An ACIP agent is granted the same level of trading authority as Full Agents.
What is False?
An ACIP agent is granted the same level of trading authority as Limited Agents. However, because ACIPs are governed by an underlying Durable Power of Attorney the ACIP agent may be authorized to request additional transactions (i.e., transfer requests, CWR, address changes, etc.).
Scenario: Client is unable to sign up for E-delivery due to having a disability that prevents them from being able to use a computer. Client would like to know if there is a way for them to avoid or for Vanguard to waive the Account Service Fee. Is this possible?
What is Yes?
Permanent Fee Waiver Scenario:
Client states that they have a disability that impacts their ability to transition their TA account to VBA or sign-up for e-delivery on their VBA.
True or False: Tax forms prior to tax year 2010 may need to be viewed through the Account Historical Documents Tool (AHDT) or requested via Personal Investor Client Research request.
What is False?
Tax forms prior to tax year 2016 may need to be viewed through the Account Historical Documents Tool (AHDT) or requested via Personal Investor Client Research request.