Thanks for starting this timely thread. I got my Basic Proof of Claim form yesterday.
The big question, which the FAQ does not resolve, is whether it will be worth the considerable effort, especially for IRAs, where my recording keeping is less diligent. (All trades have to be supported by copies of broker confirmation slips, account statement, IRS forms, etc.)
One of the FAQ does suggest that if you have a few trades it will not be worth filling out the electronic forms if you had to pay $15 for the disk, but I am wondering if you have dozens of trades whether it will still be worth it.
Any one have any thoughts as to how to questimate the dollar amount which might be paid out per trade?
Although a billion sounds like a lot, after legal expenses and fees it is less, and with the 45,000 mailings to institutions, brokers, mutual funds, etc., one has to wonder whether an individual could expect to get more than a dollar per trade.
[Assumes each institution was obligated to file and had an average of 10,000 trades over the seven year period, and there were half as many individual investors filing (and they get 50% more), and expenses were about two hundred million.]
I just hate to go through the effort and find no pot of gold at the end of this rainbow. <g>
Any ideas?
Heu |
