Digital tools to simplify end-of-year tasks

Money movements

Use the move money tool to validate data and meet year-end deadlines with extended cutoff times through December for Roth conversions, charitable distributions, RMDs, and other year-end transactions.

Plus you can easily process qualified charitable distributions with the 7-QCD code for tax elections. This option sets the tax withholding for that transaction to zero, with no impact on the account-level settings and future-dated or recurring transactions.

You can also create a recurring transaction for any on-request profile on which you have investment advisor authority—with no need for client authorization. And if you have several updates to make, you can import transactions from a spreadsheet and use eAuthorization for internal transfer imports. 

Finally, whenever client approval is needed for a transaction, use eAuthorization for an experience that is faster and more secure—and more convenient for your clients.

Last-minute accounts

Open last-minute accounts with digital onboarding. The guided workflow lets you to open, set up, and fund multiple accounts for a household in minutes. Your clients will appreciate the simpler, more streamlined review and approval experience that gets the information right the first time.

RMDs

The RMD tab was recently redesigned to streamline your workflow. Use it to track client accounts and customize, view, and export RMD data for your firm. You can sort by age to see which clients haven't yet taken their RMD for 2024, and who needs to do so in 2025. The tab also shows which client accounts have minimum distributions for the current year, the total amount of the required distribution, and the amount already distributed year-to-date. Another tip: with the move money import transactions tool, you can process bulk RMDs and set-up auto-calculated check or internal transfer RMDs for the next calendar year.

Status and Alerts

Keep clients updated on the progress of their year-end requests by getting the latest information from a single location within Schwab Advisor Center. On the Accounts overview page you'll see a consolidated view of all recent updates and alerts, so you can easily review and act on requests. For more details, view this guide.

Schwab Data Delivery^®

Get ready for tax season with Schwab Data Delivery. This feature shows you the unrealized and realized gain/loss information for each account under a master account. You'll find these reports helpful when planning for end-of-year tax-loss harvesting and identifying shares sold with missing cost basis.

Year-end fraud tips

Finally, don't let year-end deadlines distract you. Criminals know that advisors might let their guard down under the pressures of end-of-year work. Reduce the risk of fraud for your firm and protect your clients' information and assets. Share these fraud prevention tips with your clients.

What you can do next

• Review other important information about 2025 year-end deadlines and dates for charitable giving.
• For more tips on leveraging technology for year-end tasks, download the replay for the October 2 Tech Talk webcast.