AVP Tax Reporting Location Bethesda, MD Job Category Finance Overview Since 1999, Chevy Chase Trust has provided wealth management to individuals, families and foundations using thematic investing in individual securities. Chevy Chase Trust is looking for an experienced investment Tax Professional. This position will assist in the oversight and management of the Company's various tax reporting, ie, custodial and fiduciary account reporting. The Tax Professional will serve as a valuable and necessary internal liaison between the Company's tax return preparer (EY) and the sub-custodian (FIS). Additionally, this position will be an internal resource for specific tax related questions received from account administrators and clients. Duties & Responsibilities Duties will include, but are not limited to the following: 1099 DIOB for Taxable Accounts: * Manage the preparation, approval and delivery of 1099 DIOBs for taxable accounts * Review transactions and information in EY's periodic reports of data bridge to the OneSource tax system * Monitor and provide direction with respect to new and closed accounts * Request and review any changes and corrections made to tax documents throughout the year, primarily during tax season * Manage ad hoc questions and requests from EY and clients throughout the year * Keep the client services team advised on the progress of 1099 preparation and distribution during tax season Non-Resident Alien Reporting: * For non-resident alien clients, the Company is required to withhold and remit federal tax on a regular basis * Monitor accounts, review and approve the annual IRS form reporting and reconciliation of payments Back-up Withholding: * Monitor accounts that are required by the IRS to withhold income * Prepare the required IRS forms (Form 945) * Review proper account set-up as well as withholdings and payments by FIS Date of Death Valuations and Step-Up Basis Requests * Prepare date of death valuation reports * Process basis step-up requests made to FIS and track the completion of requests * Research and analyze intervening sales and corporate actions while coordinating consistent tax treatment with EY and FIS * Make changes to account reporting internally 1099-R Preparation: * Oversee and review the preparation of the IRS 1099-s (for retirement accounts) by FIS * Serve as the internal resource for questions between the client services team and FIS regarding IRA transactions throughout the year * Review and approve 1099-Rs before filing and distribution by FIS IRA Withholding: * Utilize FIS reports to prepare and file required state and IRS withholding returns * Transmit and track communications to FIS that are received from various state authorities Form 5498: * Oversee the retirement account contribution returns prepared by EY * Provide direction, review transactions and approve the distribution of the annual forms Fiduciary Account Transaction and Review: * Responsible for the periodic transaction and information reviews * Provide necessary account documentation for new fiduciary accounts to EY * Track and transmit all outside tax documentation for fiduciary accounts (outside K-1s) to EY during tax season Payment of Quarterly Estimates and Balance Due * Advise client services team of taxes due from fiduciary accounts * Facilitate and monitor the electronic payments with FIS * Conduct paper filing of certain estimates and returns as identified by EY * Manage a tracking system in the event the Company is required to prove filing occurred IRS Communications: * Serve as the recipient of IRS and state taxing authority communications * Transmit any communications to the appropriate resources as required Internal Account Administration Guidance: * Provide guidance and education to the client service team on the proper transaction and account characteristic coding to ensure accurate tax reporting * Create necessary procedures for accurate transaction reporting * Train new client service team employees as needed Non-Resident Alien Reporting: * Monitor and track filing of federal and state returns * File and track all income tax returns that must be filed by paper * Monitor receipt of fiduciary account tax refunds Qualifications & Skills JOB REQUIREMENTS (SKILLS/ABILITIES): * Demonstrated in-depth understanding of tax returns, reporting and tax laws * Thorough understanding of complex technical tax issues * Excellent analytical skills * Strong organizational skills * Superior written and oral communication skills * Ability to handle multiple tasks concurrently EXPERIENCE: * Preferred minimum of 5 years of tax experience with investment companies and the associated tax reporting required * Experience with OneSource tax software * Strong excel skills * Experience with FIRA system and state electronic tax file submission * Experience with fiduciary income tax issues EDUCATION / LICENSES / CERTIFICATIONS: * Bachelor's Degree required * EA or CPA required Equal Opportunity Employer/Veterans/Disabled BFS7501 * Demonstrated in-depth understanding of tax returns, reporting and tax laws * Thorough understanding of complex technical tax issues * Excellent analytical skills * Strong organizational skills * Superior written and oral communication skills * Ability to handle multiple tasks concurrently, * Preferred minimum of 5 years of tax experience with investment companies and the associated tax reporting required * Experience with OneSource tax software * Strong excel skills * Experience with FIRA system and state electronic tax file submission * Experience with fiduciary income tax issues EDUCATION / LICENSES / CERTIFICATIONS: * Bachelor's Degree required * EA or CPA required