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© SEI 2022 For Intermediary Use Only. Do Not Distribute. 3 C. If I have clients who are invested in a Schedule K-1 (Form 1065) generating asset, the sales are reported on both the 1099-B issued by SPTC and the K-1 issued from the asset. Does this mean it is being double-reported to the IRS? .................................................................................................. 13 D. Will SPTC mail other compliance or regulatory information directly to my clients? ...................... 13 9. Individual Retirement Accounts (IRAs) .................................................................. 13 A. Does a Traditional/SEP/SIMPLE IRA owner need to take a Required Minimum Distribution for 2023? . 13 B. Does an Inherited IRA or Inherited Roth beneficiary need to take a Required Minimum Distribution (RMD) for 2023? ................................................................................................................. 14 C. How is a Removal of Excess Contribution or a Re-Characterized contribution reported? ................ 14 D. How are '72t distributions' (Substantially Equal Periodic Payments) reported? ........................... 14 E. The IRA owner took a 'Coronavirus Related Distribution' in 2020 as part of the CARES Act. How can they re-pay the distribution? ................................................................................................. 15 F. How are postponed/late contributions reported? ............................................................... 15 10. Additional questions on tax forms ....................................................................... 15 A. Why are there differences in the income reported on the Tax Information Summary and my client's December 31 Statement of Value and Activity? .......................................................................... 15 B. What is the difference between a Capital Gain and a Capital Gain Distribution? ......................... 15 C. What is a Sale of Rights Transaction? .............................................................................. 16 D. What does the country RZ indicate? ............................................................................... 16 11. SEI Private Trust Company's reporting to the IRS ..................................................... 16 A. What information does SPTC, as custodian of my clients' investment accounts, send to the IRS? ..... 16 B. Is tax-exempt interest reported to the IRS? ...................................................................... 16 C. For accounts that receive a 'Tax information only' statement, why is some information being reported to the IRS? ........................................................................................................... 16 D. SPTC sends certain clients a letter that states that a new Form W-9, Request for Taxpayer Identification Number and Certification must be provided. Why are these letters sent to my clients? ........ 17 12. Online tax forms: ............................................................................................ 17 A. What types of tax forms are available online through SEI's websites? ...................................... 17 B. Can the investor opt to receive only electronic copies of their tax form? .................................. 17 C. How can investors opt in for electronic only tax forms? ....................................................... 17 D. What are the advantages to electronic only delivery? ......................................................... 18 E. Is there a bulk download capability for tax forms? ............................................................. 18 F. Is Turbo Tax able to import tax information from SPTC? ...................................................... 18 G. Is SPTC capable of importing the tax information into other tax software's? ............................. 18 H. Is SPTC capable of providing a download of 1099-DIV, 1099-INT, 1099-OID and 1099-B information identified in the Tax Information Statement, for the purpose of electronically populating commercial tax return preparation software? ................................................................................................ 18 I. How many years of tax forms are available online? ............................................................. 19 13. Corrected Tax forms ........................................................................................ 19 A. What process should I follow if a tax correction is required to a tax form? ................................ 19 B. What is the timeline for a tax correction to be processed? ................................................... 19 C. When SPTC corrects a tax form, is it immediately updated online? ......................................... 19 D. When will SPTC mail tax forms that are revised due to Income Re-allocation and return of capital adjustments? .................................................................................................................... 19 E. Will I be notified if I have clients who will be receiving a revised Tax Package? .......................... 19 F. How will my clients or I see that a revised tax form has been issued? ...................................... 19 G. How can I find what information was changed on a corrected tax form? ................................... 20 14. Ongoing support from SPTC ............................................................................... 20 A. Are there additional tax resources available besides this FAQ? .............................................. 20 B. If I receive questions from my clients related to tax information received from SEI Private Trust Company, whom should I contact? .......................................................................................... 20

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