Need an easier way to update cost basis
Main Problem:
- The user is facing difficulty updating over 200 cost basis entries for mutual funds in their Fidelity investment account due to the manual entry process being time-consuming and prone to errors.
Solutions Discussed:
- The user can submit a Cost Basis Update Form along with their spreadsheet for processing, which may streamline the update process.
- It is important for the spreadsheet to contain all required information as specified in the form to avoid any delays.
- The completed form can be submitted via secure email or by mail, ensuring to include a wet signature if emailing.
Here’s the full thread
I recently transferred assets held at a mutual fund to my fidelity investment account. The mutual funds were original opened in 2001 with monthly automatic investments made thru 2015. I have copies of all the investment statement from the original mutual fund company. The cost basis information in the Fidelity account is no way close to the cost basis from mutual fund the investment statements.
Because of the monthly auto investments there are over 200 entries that need updating / adding to the Fidelity cost basis information. Adding the 200+ entries information online using the Fidelity Cost Basis editor is a royal PITA. Have to manually type the date, shares and total cost entries for each transaction date. This is VERY prone entering the wrong data due to typing errors.
I have the dates, price per share, shares purchased and total purchase amount in a spread sheet. And have verified the total number of shares in the spread sheet match the current total number of shares owned. Is it possible to some how upload this information as a .CSV file instead of manually typing over 200 transaction entries?
Or is there a better way to add the 200+ entries that avoids the manual typing (for hours!!!!)? Please provide suggestions. I have 5 different mutual funds with over 200 transaction that need updating in the Fidelity cost basis information.
Hi there, @barmxr. First, thank you for choosing Fidelity to transfer some of your assets. I am happy to help.
For convenience, you can submit the Cost Basis Update Form below, along with your spreadsheet for processing. To avoid any delays, it’ll be essential to ensure the spreadsheet contains all the required information we typically request on the form. You can refer to the form’s “Required Information” to verify the details we need.
Cost Basis Update Form: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/cost-basis-update-form.pdf
When you’re ready, you can submit the documents via Secure Email using the link below or by mail using the address on the form. If you decide to send us an email, keep in mind that the form requires a wet signature, so you will want to print and sign the form before uploading.
Send a secure email (Login required): https://digital.fidelity.com/prgw/digital/login/full-page?AuthRedUrl=https://digital.fidelity.com/ftgw/digital/secureemail
Please let us know if anything else comes up; we will be happy to help. 🟢