Expect Extra Paperwork This Tax Season

Unless you became a Hilliard Lyons client for the first time after February 15, 2017, you will recall that Hilliard Lyons outsourced all of its clearing operations and statement preparation to First Clearing* in mid-February.

As a result, all accounts that had taxable events in both January 1 – February 15, 2017 and the rest of the year will be getting TWO Form 1099s this tax season. (Depending on your account and activity, you may also get other tax reports from both periods.)

Whether you prepare your taxes yourself or rely on a tax preparer, you (and they) should wait for the final version of BOTH sets of forms before finalizing your tax return for calendar 2017.

  • Both sets of tax reports will have the Hilliard Lyons logo on them, but one will show
    J.J.B. Hilliard, W.L. Lyons, LLC, as the company preparing the form.
  • The other will have Wells Fargo Clearing Services, LLC, as the company preparing the form.

Do NOT discard either tax report. You will need them both to complete and file your taxes for 2017 accurately.

Note that accounts opened with Hilliard Lyons after February 15, 2017 (whether initial accounts or additional accounts), will generate only one set of tax forms, prepared by First Clearing/Wells Fargo Clearing Services, LLC.

We regret any inconvenience that multiple tax forms may create for you. Fortunately, this extra effort will be for tax data in 2017 only, and we fully expect that you will receive only one set of tax reports for your 2018 account activity.

Please contact your Financial Consultant with any questions.

 

*As a reminder, First Clearing is a trade name of Wells Fargo Clearing Services, an affiliate of Wells Fargo & Company. Hilliard Lyons’ relationship is directly with the First Clearing organization, focused solely on processing transactions and supporting our long-term technology needs.

Tax Resource Center

Coming Soon:

  • TurboTax Download Instructions
  • Tax Software/OFX Download Guide

How to Enroll

  1. Go to https://hilliard.fccaccessonline.com and select “Sign Up”
  2. Enter the following into the form:
    • First Name
    • Last Name
    • 8-digit Account Number
    • Social Security Number
    • State
    • Zip Code

    Then click the “Go to next step” button.

    If you do not know your new account number, contact your Financial Consultant.

  3. For online security and account protection purposes, you will be asked multiple questions to verify your identity. Once all questions are answered correctly, please hit the “Go to next step” button.If you answered incorrectly and cannot get access, call the Client Services Center (open 24/7) at 877-488-3748 to establish access
  4. If you have more accounts you want to view, add each account number individually on this screen. To add an account, enter your 8-digit account number in the field, and hit the “Add account” button.
    If you do not know your new account number, contact your Financial Consultant.Once all your account numbers have been entered, or if you have no additional accounts to add, click on the “Create UserID/ Password” button to continue.If you receive an error message that an “account number you entered is not eligible for association with your UserID” when trying to link an account to your online access, call the Client Services Center at 877-488-3748.
  5. Create your User ID and password for your online account. Click the “Help” button for more information and password requirements. To continue, click “Submit.”
  6. Once you hit “Submit” you should see a message on the screen telling you that “You have successfully created your User ID.” To continue, click “Login” at the bottom of the screen.
  7. Login in using your new username and password, created in Step 4, and click “Go.”
  8. You will be asked to create three security questions. You can pick a question from the dropdown list or create your own question by clicking the link.
    Please note: all answers must be at least four characters (including spaces) and no two answers can match. Answers are not case-sensitive.
  9. You will be taken to a page that outlines the features of the new HL Online Experience before going to the agreement. You can skip the tour by clicking “Get Started” at the top of the page.
  10. Next, you will be taken to the online access agreement. After you have reviewed the online terms and conditions, you will need to check the boxes for Online Access Agree­ment, NYSE, NASDAQ, and OPRA at the bottom of the screen.Click on the Submit box to continue to your online account.

Download a PDF of the enrollment instructions.