Democracy starts with you, tag your it! ...Thom Hartman
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
On a job site where I can't sit on the phone to wait. I did post what Schwab states in quotes about the delay out to Feb 19, 2021.
From Schwab: "In mid-February 2021, 1099s will be sent out for accounts that contain at least one investment for which the issuer can't provide information on time for the earlier mailing. Examples include ETFs and mutual funds, fixed income, REITs, UITs, WHFITs, and U.S. and foreign stocks that have been reclassified in the past. We expect these 1099s to be available on Schwab.com on Friday, February 19"
UQ = WMI Capital Trusts = REIT income
FYI EDIT: I'm think I'm at IHUB max post limit, so I can't further respond today
For me Schwab has always been mid January at the latest, for all accounts. And again, Schwab was on time in January for accounts without UQs....only
The Feb 19 delay on reporting, is only for accounts with my UQs. For the first time ever. For 10 years, tax statements for these same UQ accounts were always ready before mid January
Nope, if you read my posts completely. I have multiple accounts across multiple trading firms. Only the Cash/Brokerage accounts holding DTCC issued UQ tracking markers that I released to obtain.
All other accounts holding just COOP, or any other flavor, these tax documents were available weeks ago in January.
Something is up. Feb 12-19
tic toc
Ok, that slots in nicely chronologically with Schwab saying they anticipate posting 2020 tax statements on Feb 19, 2021.
tic toc
Thanks AZ! thanks for clarifying what I am seeing as well. Dang, imo - lol, we are close to seeing some major action before Febuary 19th!
Again no offense new poster, but you're publicly stating you have UQ dtcc tracking markers in your brokerage account and you have received your 2020 tax statement from TD and they are not delayed?
Thx AZ, to clarify... you're agreeing that 2020 tax information is delayed in your accounts holding UQs also?
Its quite interesting. I've never had to wait this long to get tax information from this account like this.
No offense, but can anyone else with a recognizable ID verify that they've received 2020 tax statements from their brokerage account that DOES contain UQ dtcc tracking markers?
TD provided you what specifically?
You're saying here, that you have exactly, a 2020 tax statement from TD Brokerage account that 'for real' holds UQ dtcc markers?
I find it compelling when I compare one brokerage account at Fidelity holding COOP only that had tax documents ready in January. Yet, Schwab Brokerage holds Both COOP and UQ dtcc markers, and it has delayed my tax liability documents for things like REIT investments (UQs) till Feb 19.
hmmm. My dates to eyeball are Feb 12-19.
From Schwab: "In mid-February 2021, 1099s will be sent out for accounts that contain at least one investment for which the issuer can't provide information on time for the earlier mailing. Examples include ETFs and mutual funds, fixed income, REITs, UITs, WHFITs, and U.S. and foreign stocks that have been reclassified in the past. We expect these 1099s to be available on Schwab.com on Friday, February 19"
Even more intriguing, is that my Fidelity Brokerage which holds only COOP, and no UQs markers... the 2020 tax statement was ready in January.
Clearly, something is upcoming with the UQ tracking markers issued by the DTC, IMO. Tax information for these REIT income based markers (WAMUQ), has never been delayed since 2008.
Yet for the first time, they are exercising the lawful right to report last years 2020 REIT income, in 2021 - late? Must've been a distribution made and on the way....
Yes thanks for correction. but either way the point I'm trying to make stands. In that what intrigues me, is that Schwab accounts where there is no future tax implication, I've received tax docs weeks ago, as I have for the past 10 years.
Yet, the Brokerage account that would have tax liabilities for 2020, due to a lawfully late REIT filing (WMI Capital Trusts), is delayed now for the first time since the collapse of WMI in 2008.
I hold many UQs, and COOP equally in both Brokerage and ROTH.
Make me wonder and anticipate about the the week between Feb 12 -19....
An interesting Schwab observation, and a WAG 8-ball IMO about when things get started here.... Somewhere between February 12th - 19th.
AZ mentioned the 10 days SEC required notification period upon completion of the 3 year 2nd Ownership Change, which 'should' be Febuary 12th 2021 at the latest. Which brings 2 simultaneous actions that can't be taken without the other at the same time. 2020 WMI/WMIH/COOP consolidated IRS tax filings for the entire legacy and newco business as a whole for the first time since 2007,....as well as the fiscal year 2020 release of legacy BK held-back interest income funds (2008-2020) through DTC markers for those who released. (Remember! I posted the link weeks ago, stating that REITs can lawfully delay year end reporting beyond 12/31 for 30-60 days without much penalty).
So, Today while gathering year end documents from Schwab for 2020 taxes, I noticed that my tax documents for ROTH IRAs were already done weeks ago and ready to print, as in every year prior.
However, my Brokerage account tax statement for 2020, won't be available until Feb 19. In years past it was available on 12/31, 1/16, 1/10....you get the picture. sure, it could be COVID related....
Now the 8-ball...wondering if the delayed tax documents for brokerage accounts are delayed just enough due to an upcoming corporate action from COOP and the DTC?
Why? What makes this interesting to me, is that I have UQ markers in ROTH and Brokerage Schwab accounts. And in a ROTH, IRS taxation isn't an IRS 1099 liability until I retire, so Schwab can produce the tax document instantly as they did, regardless of any future Corporate event or income impact for the account. However, my Brokerage account would have IRS tax implications for year 2020 if a last minute Corporate action for fiscal 2020 was about to occur (remember late tax filings by REITs are lawful), and I find it interesting that tax reporting in a tax liable account is coincidently delayed to just after a major COOP event to come. And as mentioned, my UQs in the ROTH, had tax statements issued weeks ago....2020 is long gone, there is no reason to postpone my Brokerage tax docs, when they already produced weeks ago my Roth tax documents - - and they BOTH hold the same flavors of COOP and UQs.
hmmmmm, I didn't have these Brokerage account tax statement delays or notifications in any prior year since 2008? So if nothing is changing and no money is coming, Why the delay now? Why now? Unless as AZ has explained so well, that the time is open us.
From Schwab: "In mid-February 2021, 1099s will be sent out for accounts that contain at least one investment for which the issuer can't provide information on time for the earlier mailing. Examples include ETFs and mutual funds, fixed income, REITs, UITs, WHFITs, and U.S. and foreign stocks that have been reclassified in the past. We expect these 1099s to be available on Schwab.com on Friday, February 19"
Thanks for your observations here, and the critical timeline analysis. It is definitely looking like a grand possibility, if not incredibly coincidental timing at the worst.
Yes AZ! Thanks for the clarification! Have a great day. Good times a' coming.
Ooops my bad. Sorry to have misread what you posted. "Asset Values".... not income from the assets. Didn't have glasses on.
so WOW, yes, most of the asset portfolio that generated the income has diminished over time. Thus leaving a tiny basis by which to generate some income over the last couple years.
Maybe? That’d be a nice thought... $57 B is an awful lot to churn through. Quite possible, in a (as of today) non reporting , soon to be consolidated sub!
Thx John! I needed that
Amazing they churned through $57B...holy moly. Nationstar wasn’t a cheap purchase, nor was running money for WMIH/COOP all these years.
It’s a crying shame for my Ps.
REITS can legally delay notification up to January 31st without penalty. Sort of a grace period if needed. Its not common.
They can can even postpone up to June, however, the financial and tangible costs associated make it extremely unlikely this will be go beyond January 31, 2021. Otherwise the REITS have to pay taxes,, and other penalties etc.if they go beyond Jan 31.
boarddork Tuesday, 12/29/20 06:10:35 PM
Re: None 0
Post # of 645612
Q4 2020 hasn't ended yet, but after all these years where retail is hated so much, I had to poke around a bit with regards to REIT distributions. I am not an expert, and maybe AZ can correct me as to whether the WMI Capital Trusts are REITS by this definition, as it may not be entirely applicable. But I did find it interesting amongst a cacophony of new IDs pushing hard against a 2020 year end distribution. I agree with AZ's research and I know he has adequately stated what should happen regarding the 90% Rule under the spotlight of Q4 ending.
I found a Tax Director, who lists some rare instances where a REIT Trustee 'could' postpone disbursements, but not with consequences, or ignoring the mandatory requirement to declare a dividend before Dec 31 - even if money comes later. I believe AZ has already mentioned this to some degree.
What is bothersome in reading this is numbers 1-3. As legacy retail is hated, some sadist might like #1 to delay paying retail another month - or this same sadist might like #2 by filing taxes late and tax extensions to postpone paying till June (although #2 costs the REIT excise taxes). The only thing about #3 that is bothersome is if by "consent of the shareholders"......it might mean that legacy WMI being the only shareholder, could it direct the REIT to not distribute the dividend income and leave it in the REIT while sticking us with the taxes?
Here are the highlights:
"What if Your REIT Doesn’t Meet Its Distribution Requirement?
JUNE 17, 2020
By David Nigliazzo
But what happens if the REIT fails to meet the distribution requirement? Are there any remedies?
Dividends must be pro rata and without “preference” within a single class of stock. There are three provisions that will remedy the situation when a REIT fails to meet its distribution test:
1) Declare the Dividend in the Current Tax Year and Pay in January of the Subsequent Year
If a REIT declares a dividend in Q4 of a taxable year (October, November, December) to shareholders of record in such quarter, but does not pay the dividend until January of the following year, the distribution is deemed to have been paid on the last day of the taxable year (i.e., December 31.) The REIT will include the distribution in the current taxable year; however, the shareholder will need to also include the dividend in their taxable income for the current tax year. These dividends are deemed paid on the last day of the taxable year. The REIT must have earnings and profits in the tax year in order to classify these distributions as dividends.
2) Declare and Pay the Dividend in the Subsequent Year Exposes REIT to excise taxes
If a REIT does not declare the dividend in the prior tax year, there is still a remedy. The REIT can deduct dividends in the prior tax year if the dividend is declared prior to the due date of the REIT’s tax return, including extension, and the dividend is paid in the 12-month period following the close of the REIT tax year. Once the dividend is declared with regard to the prior tax year, it must be paid no later than the next regularly scheduled dividend.
For example, assume that a REIT typically makes distributions on June 30 and December 31 each year. On May 15 of the current year—the year subsequent to the tax year—the REIT declares a dividend related to the prior tax year to solve its distribution requirement. The dividend related to the prior tax year must be distributed no later than June 30. The distribution must be from the earnings and profits of the prior tax year. Under this scenario, the REIT will deduct the dividend in the prior tax year; however, the shareholder will be taxed on the REIT in the year in which it was paid. This option may cause the REIT to be subject to the excise tax for the prior tax year.
3) Declare a Consent Dividend Requires shareholder WMI (and others?) consent prior (maybe someone research the IRS form 972, 973)
A “consent dividend” is a constructive distribution from the REITs earnings and profits. From a shareholder’s perspective, it is treated as a taxable dividend on the federal income tax return in the current year. It is considered as if the shareholder immediately reinvested the dividend back into the REIT, increasing the paid-in capital of the REIT and increasing the shareholders basis in the REIT stock. This will allow the REIT to keep the cash in the REIT and increase the shareholders’ investment in the REIT. All shareholders must consent to the dividend by completing and signing Form 972, and the REIT will complete Form 973. Both forms must be submitted with the REIT’s tax return and by the REIT’s tax filing due date, including extensions. If a shareholder does not consent and is not distributed cash, then there is a preferential dividend with regard to the class of stock having the consent dividend, and no amounts with regard to that stock are eligible for the dividends paid deduction.
4) None of the Above REIT status would be canceled - I doubt they'd risk this
If a REIT fails to meet the distribution requirement and does not elect one of the three aforementioned solutions, it will fail to be a REIT and will be taxed as a C corporation. Some practitioners believe if an entity continues to pass all other REIT requirements, the REIT will be taxed as a REIT in the subsequent tax year. Others view that the five-year prohibition on re-election applies, and the REIT will be taxed as a C corporation for the five-year period. Given the uncertainty of the application of this rule, it is critical for a REIT to meet its dividend distribution requirement.
5) SALT Issues a REITs primary objective is to avoid taxes, I doubt it comes to this.
A REIT should also be aware of potential state and local tax issues. While some jurisdictions comply with federal law for REITs, some do not, specifically regarding consent dividends. This could cause the REIT to have an income tax liability in state and local jurisdictions, even if there is no federal taxable income. State adjustments can also cause a REIT to have state income and, therefore, state income tax liability. Furthermore, some states have a franchise, excise, or net worth tax to which the REIT will be subject.
A best practice is to monitor the REIT’s estimated taxable income and distributions paid throughout the year in order to comply with REIT distribution requirements and avoid a potential shortfall. An essential part of REIT compliance is ensuring the REIT meets distribution requirements. If there is a deficiency in the REIT’s distributions at year-end, contact your tax advisor to discuss and assess your best options to ensure the REIT’s compliance with the distribution requirement.
https://www.eisneramper.com/reit-distribution-requirement-0620/
COOP and Washington Federal trading price been pretty similar lately. Maybe COOP needs a bank?
My Schwab still has P escrow in Bonds.
FDIC balance sheet has been inaccessible for a few days now.. Maybe this small amount is LIBOR FDIC related....
the timing is odd, but certainly not proof
try to CLICK on "Balance sheet" or "P&AA". Why do I have to keep repeating what the exact issue is? Of course I can access the main menu.
Try clicking Balance Sheet, P&AA, and Amendments to P&AA........I still can't access any of those pages !! Maybe its just me, lol, and I've been 8-balled.
I get error page "405 Not Allowed. nginx"
I'm using FDIC link https://www.fdic.gov/Bank/individual/failed/wamu.html
The fact that the FDIC Wamu site is/has been down (for pending updates?), does make me wonder if such a small amount as $.26 could be more aligned with LIBOR settlements, or such?
for days now, you still cannot access:
WAMU's
1) P&AA
2) Amendments to the P&AA. this contained POA for JPM, Wells Fargo, etc.
and most importantly
3) receivership 'Balance Sheet Summary', is an error code.
hmm
To note: There are multiple Trustees, with different fiduciary duties to both large and small pools of assets. I would expect to see multiple and variable amounts trickle and flood in when the time is right.
What's interesting here, is that many bond cusips the Trustees manage are overseas issue. So in a way it maybe makes sense to see the first indicator ripple start over there.
The Austrian poster's cusip wasn't removed from his account after the deposit, so there is hopefully more to come.
hopefully this is the start of something big.
fwiw, the FDIC ‘Balance Sheet Summary’ link has been broken for a few days in a row now (‘405 Not Allowed error’) as well as the FDIC link to ‘Ammendments to the P&AA’ has also been down (404 Not Found).
I think there might be some updates coming to the FDIC WAMU website
Thank AZ, I was kind of thinking it was something like that, although not in as much necessary detail. Again thanks.
I did research last week on which WMI subs still have active state registrations as viable and ongoing businesses. I’ll post what I found later today for everyone.
Debt and Cash, are different things, and can be used for different things. Especially if one is Inside BK, and one is Outside of BK.
Original WMI P Preferreds were/are debt vehicles to drum up cash flow, backed by specific mortgage securities as collatoral. like renting out a house, with a senior note against it, where income is reduced by the cost of the debt note.
The original P Preferred trust assets were not segregated out of BK, so I'd think those debt assets could be used by the debtor however and whenever they chose. And my contention is the did use it temporarily for new WMI A&B Preferreds as operating money until an aggressive income generating Merger/Acquisition was consummated.
Which is different from original legacy Commons and just pure interests in securitized income streams from WMI Capital Trusts and their specific mortgage security collatoral. Pure cash flow, no debt assigned against these Trusts as senior collatoral....like renting out a house you own free and clear. pure profit.
The debtor couldn't touch this cash, as it WAS segregated out of the reach of Bankruptcy.
So:
I'm thinking WMI/WMIH/COOP could use this raised debt backed by mortgage trusts (old P Preferred) for whatever the heck purpose and use it how they please (aka hence my wondering if A&B Preferred were temporarily paid back with P Preferred debt interests until paid off). I'd think there is still plenty left going forward for P Preferred interests.
And all that is guaranteed to original legacy holders of P 'debt' is Face + interest. So going forward since Sept 2008, this trust backed debt might've generated 2 Xs FACE or something. I'm wondering if the 'Cream' above and beyond what is owed to legacy P holders (Face + interest),...if that 'Cream' (retroactive) is equal to what was guaranteed to A&B Preferreds. If so this lends credence to my theory.
Could A&B Preferred essentially be looked at as a loan to the company WMIH for carrying costs UNTIL, a future merger/acquisition could be found (turns out NSM) that would eventually start producing income for WMIH /COOP to become self sufficient without living off of debt ?......,
and ....that an arrangement was made in a sense that the 'loan' - the new A&B preferred, ....this debt owed to A&B is to be paid back from the P Preferred trusts? After all, WMIH didn't have much income elsewhere until a future merger was consummated, yet WMIH had
other debts and executives to nurse off the teet meanwhile?
sort of like a cost of doing business? aka, costs of maintaining a life line until a suitable merger partner is found? (eventually NSM)
So once that original debt (collatoral guaranteed by A&B Preferred) is paid back through WMIH income generating Original P Preferred Trusts including retroactively, then the "THANK YOU" for lending to WMIH is Conversion to a boatload of new Common shares (without legacy tracking markers), not to mention being paid back their principal and interest owed from a guaranteed trust income stream.
sweetheart deal - absolutely. but when you're a bankrupt shell with no liquid legacy assets to claim (yet), what choice do you have, other than 'Hard Money Lending'?
IDK, but just trying to apply a bit of logic and personal lending experiences. If you're inbetween a rock and a hard place, you're gonna have to pay interest and then some......title to a Harley (lol), a boat, shares in a newbie company fresh out of technical Bankruptcy.....
But if all this is true, I'd think that back then WAS the deal, and now going forward as we all wait and are in the same boat, then maybe the P Preferred income stream goes back to original intentions.
Thanks AZ - that helps to understand the process! Now from there I'm trying to get my arms around these details and marry it into the big picture going forward here.....
Trying to figure out how A&B Prefereds before their conversions to all Commons, was allowed to (or were they in addition to?) whomever WMI was originally issuing dividends to off the P preferred originally?
In other words did old P preferreds cease to exist at the start of WMI's 2 Chapter 11 BKs, and then in later after BK Re-org, did those former dividend interest incomes start paying out only to the new WMIH Preferred A&Bs?
How the heck could original P Preferred who released get bypassed by new A&B Preferreds at that time without addressing those who released their old P Preferreds?
Thanks AZ. Connecting the relationship dots between what I know to be there asset wise, to what those who released show as % ownership tracking markers, is so #$% murky.
That doesn't sound promising for Preferred who released, lol. Was the liquidation preference of those backing trusts different in comparison to the WMI Capital Trusts for old WMI Common, that allowed the debtor/reorganized WMI/WMIH to put their hand in the cookie jar?
Most importantly......'the SECOND Ownership Change only issued Secondary Dilutive Shares....' That's right, Coop shares only. ZERO escrow trackers held by the DTC.
Only those who released in the First ownership change received BOTH 1) Shares 2) DTC Escrow markers
The Second Ownership Change doesn't get their fingers on legacy WMI interests as evidence by ones' DTC tracking markers
They can't steal it. We can't sell these DTC interests, because CASH is coming.
Hi AZ, Something you said I caught it the first time during the holidaze and meant to return to it....but it's quite interesting to think about.
"... the SECOND Ownership Change ? was only able to issue "Secondary Dilutive Shares" ... or "Common Shares" in COOP' (privately) ... think about that' ... it's a big deal
AZ "
As AZ says, we all wait together...individuals and institutions alike. So, there are some much deeper pockets than mine, that are getting shafted should any more delays occur.
Q4 2020 hasn't ended yet, but after all these years where retail is hated so much, I had to poke around a bit with regards to REIT distributions. I am not an expert, and maybe AZ can correct me as to whether the WMI Capital Trusts are REITS by this definition, as it may not be entirely applicable. But I did find it interesting amongst a cacophony of new IDs pushing hard against a 2020 year end distribution. I agree with AZ's research and I know he has adequately stated what should happen regarding the 90% Rule under the spotlight of Q4 ending.
I found a Tax Director, who lists some rare instances where a REIT Trustee 'could' postpone disbursements, but not with consequences, or ignoring the mandatory requirement to declare a dividend before Dec 31 - even if money comes later. I believe AZ has already mentioned this to some degree.
What is bothersome in reading this is numbers 1-3. As legacy retail is hated, some sadist might like #1 to delay paying retail another month - or this same sadist might like #2 by filing taxes late and tax extensions to postpone paying till June (although #2 costs the REIT excise taxes). The only thing about #3 that is bothersome is if by "consent of the shareholders"......it might mean that legacy WMI being the only shareholder, could it direct the REIT to not distribute the dividend income and leave it in the REIT while sticking us with the taxes?
Here are the highlights:
"What if Your REIT Doesn’t Meet Its Distribution Requirement?
JUNE 17, 2020
By David Nigliazzo
But what happens if the REIT fails to meet the distribution requirement? Are there any remedies?
Dividends must be pro rata and without “preference” within a single class of stock. There are three provisions that will remedy the situation when a REIT fails to meet its distribution test:
1) Declare the Dividend in the Current Tax Year and Pay in January of the Subsequent Year
If a REIT declares a dividend in Q4 of a taxable year (October, November, December) to shareholders of record in such quarter, but does not pay the dividend until January of the following year, the distribution is deemed to have been paid on the last day of the taxable year (i.e., December 31.) The REIT will include the distribution in the current taxable year; however, the shareholder will need to also include the dividend in their taxable income for the current tax year. These dividends are deemed paid on the last day of the taxable year. The REIT must have earnings and profits in the tax year in order to classify these distributions as dividends.
2) Declare and Pay the Dividend in the Subsequent Year Exposes REIT to excise taxes
If a REIT does not declare the dividend in the prior tax year, there is still a remedy. The REIT can deduct dividends in the prior tax year if the dividend is declared prior to the due date of the REIT’s tax return, including extension, and the dividend is paid in the 12-month period following the close of the REIT tax year. Once the dividend is declared with regard to the prior tax year, it must be paid no later than the next regularly scheduled dividend.
For example, assume that a REIT typically makes distributions on June 30 and December 31 each year. On May 15 of the current year—the year subsequent to the tax year—the REIT declares a dividend related to the prior tax year to solve its distribution requirement. The dividend related to the prior tax year must be distributed no later than June 30. The distribution must be from the earnings and profits of the prior tax year. Under this scenario, the REIT will deduct the dividend in the prior tax year; however, the shareholder will be taxed on the REIT in the year in which it was paid. This option may cause the REIT to be subject to the excise tax for the prior tax year.
3) Declare a Consent Dividend Requires shareholder WMI (and others?) consent prior (maybe someone research the IRS form 972, 973)
A “consent dividend” is a constructive distribution from the REITs earnings and profits. From a shareholder’s perspective, it is treated as a taxable dividend on the federal income tax return in the current year. It is considered as if the shareholder immediately reinvested the dividend back into the REIT, increasing the paid-in capital of the REIT and increasing the shareholders basis in the REIT stock. This will allow the REIT to keep the cash in the REIT and increase the shareholders’ investment in the REIT. All shareholders must consent to the dividend by completing and signing Form 972, and the REIT will complete Form 973. Both forms must be submitted with the REIT’s tax return and by the REIT’s tax filing due date, including extensions. If a shareholder does not consent and is not distributed cash, then there is a preferential dividend with regard to the class of stock having the consent dividend, and no amounts with regard to that stock are eligible for the dividends paid deduction.
4) None of the Above REIT status would be canceled - I doubt they'd risk this
If a REIT fails to meet the distribution requirement and does not elect one of the three aforementioned solutions, it will fail to be a REIT and will be taxed as a C corporation. Some practitioners believe if an entity continues to pass all other REIT requirements, the REIT will be taxed as a REIT in the subsequent tax year. Others view that the five-year prohibition on re-election applies, and the REIT will be taxed as a C corporation for the five-year period. Given the uncertainty of the application of this rule, it is critical for a REIT to meet its dividend distribution requirement.
5) SALT Issues a REITs primary objective is to avoid taxes, I doubt it comes to this.
A REIT should also be aware of potential state and local tax issues. While some jurisdictions comply with federal law for REITs, some do not, specifically regarding consent dividends. This could cause the REIT to have an income tax liability in state and local jurisdictions, even if there is no federal taxable income. State adjustments can also cause a REIT to have state income and, therefore, state income tax liability. Furthermore, some states have a franchise, excise, or net worth tax to which the REIT will be subject.
A best practice is to monitor the REIT’s estimated taxable income and distributions paid throughout the year in order to comply with REIT distribution requirements and avoid a potential shortfall. An essential part of REIT compliance is ensuring the REIT meets distribution requirements. If there is a deficiency in the REIT’s distributions at year-end, contact your tax advisor to discuss and assess your best options to ensure the REIT’s compliance with the distribution requirement.
https://www.eisneramper.com/reit-distribution-requirement-0620/
100% agree. I wouldn't be surprised if she was hired by former TPS or Piers interests or the debtors as a delay function.
There are those that hate retail. There are not strong enough words for their disdain. They are not financially hurt by the delays like much of retail is.
That was just the date the trustee had to give notification to the SEC of intent to move money I believe. 10 days prior.
Public notification is not required. although we'd appreciate it
bots never do any DD. It's just calculated noise.
lmao...its the same MO every time. Hi, newbie here, what do i do with this escrow thingy, what does it mean and then all of a sudden have a flood of immensely negative epiphanies, in a cacophony chorus of all the other newbie neg nellies.
So boring. They got no game.