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© 2023 SEI 7 Name and Address Changes to be Included on Investor Statements and 2022 Tax Forms It is important that you review any changes to your client's names and or addresses and submit any changes to SPTC prior to the end of the year so that any 2022 tax forms are issued using the correct name and address. For those clients who have notified you of name changes, please verify that the name change that you submit to SPTC is consistent with the name that the client has on file with the Social Security Administration. Inconsistencies between names on record with the Social Security Administration and those reported to the Internal Revenue Service on the IRS 1099 series tax forms may result in your client(s) receiving an IRS 'B' Notice that, if not cleared, will subject your client to backup withholding. IRS Backup Withholding 'B' Notices In October, the IRS will send SEI Private Trust Company a list of taxpayers where their client's name and Tax Identification Number (TIN) at SPTC does not match the name record and TIN at the IRS. SPTC will forward these 'B' Notices to the taxpayer to alert them of the TIN mismatch and notify them of the steps that should be taken to remedy the 'B' Notice. If it the first 'B' Notice, generally a W-9 sent to SPTC certifying the correct TIN will suffice. If it is the second 'B' Notice, the client will need to follow the instructions on the form and either contact the Social Security Administration or the IRS to obtain proper documentation of their TIN. If the taxpayer does not correct the 'B' Notice in a timely fashion, generally by mid-December, SPTC is required to place backup withholding of 28% on any income or sales in the account. If the 'B' Notice if fixed at a point after backup withholding has been applied, SPTC can turn off the backup withholding going forward. Any backup withholding already taken prior to that point cannot be reversed. This backup withholding is counted toward taxes due when the client files their annual tax return, or will be returned as a refund if the amount withheld exceeds the taxes due. Bulk Processing Requests Contact your service team in advance if you are going to be submitting any bulk processing requests, especially during the months of November, December and January. We consider any request of 25 or more accounts, trades, or tax lots a bulk request. If SPTC receives your request via fax and spreadsheet in good order by 2:30 p.m. Eastern time, it will be processed within two business days from the date of receipt by SPTC. If you have any questions about the SEI tax reporting process or any of the materials in this announcement, please contact your SEI representative by calling 800-734-1003. Information provided by SEI Private Trust Company (SPTC), a federally chartered limited purpose savings association, for general guidance only. SPTC is a wholly owned subsidiary of SEI Investments Company. Neither SEI nor its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.

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