We understand that you might need to access your compensation statements outside of the LEADERSlink platform. We are excited to announce that we have enabled the enhancement to your compensation reporting that now allows you to print and/or save your weekly reports as a PDF.
Training material is now available to assist you with using this enhancement. Your access to training material has already been sent via email from The Leaders Group firstname.lastname@example.org.
Please note, there is the possibility the message might have been delivered to your Spam folder. We suggest you whitelist the email@example.com email address to ensure you receive access to the Leaders Group University training material. Contact firstname.lastname@example.org if you did not receive this invite.
Important Tax Updates
The federal tax filing deadline has been extended for individual tax returns until May 17th. If you are getting a refund, the IRS encourages you to file now. This extension does not apply to estimated tax deadlines or business tax returns.
The IRS has also reintroduced tax form 1099-NEC as the new way to report self-employment income instead of form 1099-MISC which has traditionally been used. This was done to help clarify the separate filing deadlines with form 1099-MISC and the new 1099-NEC form which will be used starting with the 2020 tax year.
Beginning with the 2020 tax year, the IRS has required business taxpayers to report non-employee compensation on the new 1099-NEC instead of on 1099-MISC. Businesses need to use this form if they have made payments totaling $600 or more to a non-employee, such as independent financial professionals.
The Leaders Group and TLG Advisors sent this new tax form to you back in January if you were paid $600 or more in compensation within the 2020 tax year.
Please contact the Compensation team at email@example.com if you need a copy of tax form 1099-NEC.
Account Form Updates
You will notice we have made some changes to our account forms, one of the biggest changes is the name of the individual New Account Investment Profile. It has now been named Investment Account Profile, with this change it now allows you to use this not only for any new accounts you open but also for any accounts you plan to submit an update.
Another change with this form is within the ‘Product Type’ section, we have added a checkbox for Registered Index-Linked Annuity. The Leaders Group has decided on this as the official name of the product where you may have heard it being called a buffer annuity or even a variable indexed annuity. With this new product type, there is now a worksheet specific to the registered index-linked annuity so please be on the lookout for that form also since it is a requirement when submitting new business for this type of product. Lastly with all of our forms we have added a code to the bottom right corner of every page you’ll notice on the Investment Account Profile it’s labeled TLG.ACCT.InvestmentAccountProfile.03032021. Going forward we are including a code like this not only on our account forms but on all documents issued by us. This new code is going to be recognized as documents are loaded into LEADERSlink to catalog them automatically so that we can then pull these documents via on-demand reporting for you and for regulatory inquires.
Principal Operations Officer