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 with vanguard provide allocation services
flagship, voyager, core 50 or above 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
If the client is disputing cost basis for shares that transferred in from a contra firm will we update the cost based on the client information
No
What three things are needed to update a clients cost basis
Cost, quantity and acquisition date
What is the name of the form a rep can fill for clients spec id instructions
NT Form
What is the only method available for non-cover mutual funds
avg-cost
Individual accounts are eligible for what ___% step up and what key component 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 begging 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 and Cost, quantity and acquisition date of sale or transfer
what are the only ways for a client to switch to or from avg 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 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 for ____ number of days after settlement and after tea leafs you can request _____
90 days- 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 unbalance there is probably a ___ in ____
Undefined line in DMI
If a client goes through a divorce how long do they have to be able 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