My name is Gary ***, a U.S. citizen now live in China, just over age of 60 by now, and a 30 year royal customer of Charles Schwab, but now just became their serious victim of unwilling IRA distribution, which bring me a big loss of high tax due plus 10% penalty, total over $95K for my 2019’s tax return, plus the incalculable loss of once-in-a-lifetime tax exemption privilege on me (as a long-time aggressive type investor).
I believe Schwab made the critical mistakes of misleading, lack of proper procedures and fiduciary duty on me or general IRA management. The facts of timing and the all the assets still stayed in the new account long after the distribution, can obviously tell that it is a mistaken and unwilling IRA distribution.
What would you like the company to do to fix the problem?
I have to ask Schwab to recover all my extra 2019 tax plus penalty to IRS which already generated, which is $31863+32673+31863=$96399, plus $33k for my forever loss of tax-free privilege.
(if needed pls contact my China cell phone# **-********* )
Submitted by: Anonymous in California | Read more Charles Schwab complaints