I've got a story for CNBC, but don't know how to get in touch with them.
Fidelity Brokerage deposited somebody else's IRA into my brokerage IRA with them. While it was nice to get up and see that I'd gained $175,000 overnight, it didn't take long to realize that, alas, I couldn't spend it. Such sloppy back office bookkeeping isn't unusual for Fidelity (you should see what they did with my Roth conversion!), but it is a royal pain for a customer to straighten out.
I reported it to Fidelity, and it didn't take them long to move the transferred shares out, presumably to the rightful owner. But, since it was an IRA transaction under my SSN, I'm a little concerned about tax consequences (a $175,000 contribution, then a $175,000 distribution). I asked for a letter from them explaining the mistake, but they've refused to send me anything like that in writing. Not even a "Thank You" for me reporting it to them or for not trading hell out of it while it was mine. <g>
Think any news folks would like to hear about this, or should I just send a preemptive letter to the IRS?
jim |
