My complaint:
I’m not impressed by the customer review rating of only 1 out of 5, but I’ll enter my complaint anyway. The following refers to my Reg IRA ending in 512 and the bond issuer is New Hope Tx.
I had a bond that delayed the principle payment at maturity. I have now received full payment for the bond but Fidelity wont remove the bond as they have not received a DTC from the issuer. Fidelity is still showing an old 3rd party price of .63 and therefore incorrectly showing a value for the bond as $3150 (5 bonds). This bond value has the potential to cause an excess RMD for next year. A Fidelty rep has said they can’t do anything until they receive the DTC. Most certainly, the 3rd party price is WRONG and if changed to 0 that would reduce the bond value to 0 and eliminate the problem.
I repeat that the Fidelity rep has said they can’t do anything until they get the DTC but they have admitted that if the problem remained by 12/31, they would do something so as to not inflate the RMD.
If something can be done on 12/31, why can’t it be done TODAY.
I hope you take some corrective action.
Suggested solution:
Change the current value to $0. I suggest that can be accomplished by changing the 3rd party price to 0 which is probably more accurate.
