Aristotle Funds is a family of mutual funds designed for growth, income generation, and diversification. Our managers seek to deliver consistent results with downside protection strategies to help shareholders meet their long-term financial goals. We provide value to our clients through high-quality service standards, thought leadership, and product innovation.

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Tax Information

Form 1099

Form 1099 (DIV, INT, R, B)

General Information

What is the purpose of a 1099 form?

A 1099 is used to report income to the IRS and the taxpayer. There is more than one kind of 1099.

What are some the different kinds of 1099 forms?

1099-R reports full and partial distributions from your Aristotle Funds IRA (including Traditional/Rollover, Roth, SEP, SIMPLE, SARSEP) and Coverdell ESAs.
1099-DIV reports dividend and capital gain distributions of $10 or more on a retail account. A 1099-DIV will be sent if dividends and/or capital gains are distributed in cash or reinvested into the account for additional shares. The 1099-DIV is also sent to account holders for whom backup withholding was taken.
1099-B reports sales and exchanges, except money market accounts, made from a retail account.
Aristotle Funds will not generate a 1099 for accounts held directly with a firm.

When are the 1099 forms mailed?

The IRS requires 1099 forms to be mailed as listed below:

1099-R forms will be mailed by January 31 for the previous tax year.
1099-B forms will be mailed by February 15 for the previous tax year.
1099-DIV forms will be mailed by February 15 for the previous tax year.
Aristotle Funds does not send 1099-INT forms.

Who receives a 1099 form?

Account owners with reportable distributions or dividend or capital gain distributions from their mutual fund account during the previous calendar/tax year will receive a 1099.
1099s forms are mailed to the account owner's address of record.
If the account has joint owners, a 1099-R is issued to the primary owner.
A 1099 is not generated on Corporate Owned Retail, 501c, and retirement accounts serviced by a third-party custodian.

Are 1099 forms available online?

1099 forms cannot be accessed online at this time. You may contact Customer Service toll-free at (844) 274-7885, to receive a copy of your 1099 via mail or fax.

Frequently Asked Questions

A 1099 form was not received or was misplaced. Can a copy be sent?

A copy of the 1099 form can be faxed or mailed to the account owner or the Registered Representative/Assistant within 10 days by contacting Customer Service (844) 274-7885.

What are the reasons a 1099 form may not be sent?

You will not receive a 1099 form if you did not request a withdrawal or an exchange from your account. A 1099 form will also not be sent if dividends and/or capital gains were not distributed in cash or reinvested into your account.

Why was a 1099 form received if money was not withdrawn in the prior tax year?

Listed below are some common reasons:

A Roth Conversion may have occurred.
An ownership change may have occurred.
Dividend or capital gain distributions were reinvested into a retail account.
The shareholder exchanged shares from a fund in a retail account

Why were two 1099 forms sent?

The shareholder has more than one account type with Aristotle Funds; they may receive multiple 1099 forms.

What amount is reported as taxable?

Generally, for IRAs, distributions are 100% taxable.

What if a shareholder has a retirement account, is enrolled in a systematic withdrawal program, and turned 59½ last year? Will the shareholder receive two 1099-R forms?

No, the shareholder will have multiple line items on the 1099-R form: Distribution code 1 (early distribution), no known exception applies (as applicable), and another with a distribution code 7 (normal distribution).

Why was a 1099-R form sent if the distribution is part of a 72(t) distribution?

72(t) distributions are still taxable; the shareholder is only avoiding the 10% premature distribution penalty. However, the 1099-R will show a Distribution code 1 (Early Distribution, no exception). It is the shareholder’s responsibility to report the distribution appropriately with the IRS.

Will a 1099 be issued for a shareholder who passed away during the prior tax year?

Yes, if a withdrawal was taken prior to the date of death, a 1099 will be issued under the deceased owner's taxpayer identification number.

What is the turnaround time for a corrected 1099?

A corrected 1099 will be mailed within 10 business days.

How many IRA rollovers can I perform in a 12-month period?

Current tax law only permits one rollover distribution for all IRAs within a 12-month period. For purposes of this one-rollover-per-year limitation, all of your IRAs (including Roth, SIMPLE, and SEP IRAs) are aggregated, so a rollover involving any one of them precludes a rollover involving any other account (except qualified plans) within the next year. If you have additional questions about this one-rollover-per-year limitation, please contact your tax advisor.

Additional Information

What is the difference between a reportable and taxable distribution?

The IRS requires certain transactions to be reported to them, although the transaction may not be taxable. A direct transfer is an example of such a transaction.
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The IRS has designated certain transactions as both reportable and taxable; there are tax consequences for the shareholder. These may include, but are not limited to, a distribution (full or partial), beneficiary payout, or a Roth IRA conversion.
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A transaction can be reportable and not taxable; however, a transaction that is taxable is almost always reportable.

Types of transfers/rollovers

Transfer: A transfer of a qualified plan type to the same qualified plan type (i.e. IRA to IRA, TSA to TSA) without the shareholder taking receipt of funds.
Direct Rollover: A transfer of a qualified plan type between different plan types (i.e. 401(k) to IRA, TSA to IRA) without the shareholder taking receipt of funds.
Indirect Rollover: A distribution from a qualified plan type where the shareholder takes receipt of the funds and deposits the funds into another qualified plan type within 60 days.

Distribution codes

For specific information regarding distribution codes on your 1099, click one of the following to be directed to the IRS website:

http://www.irs.gov/pub/irs-pdf/f1099r.pdf http://www.irs.gov/pub/irs-pdf/f1099b.pdf http://www.irs.gov/pub/irs-pdf/f1099div.pdf http://www.irs.gov/pub/irs-pdf/f1099q.pdf

Contact customer service at (844) 274-7885 to receive a copy of your 1099 via fax or mail.