The Haverford Trust Company, a recognized wealth management firm in the Philadelphia region, has an exciting opportunity for an energetic individual to join our Tax Team as a Fiduciary Tax Accountant. We are seeking an individual with a background in fiduciary tax preparation and management to join us in our mission of providing quality service to our clients.
The Fiduciary Tax Accountant will work closely with Trust Administration and Operations to administer the entire fiduciary tax process for all relationships for which the firm serves as corporate trustee, co-trustee or guardian of an estate. This individual must possess the strong technical knowledge required to understand and apply the principles of fiduciary accounting and taxation including knowledge of the UPIA. They must also demonstrate an understanding of trust and estate tax planning concepts and techniques. The Fiduciary Tax Accountant will oversee the preparation and timely filing of all fiduciary tax returns and the payment of all fiduciary taxes due. The individual will be responsible for ensuring accurate client data and records are provided to tax preparers, and coordinating all tax-related aspects of the firm’s trust accounts. The position will require interaction with the Client Service teams, outside accountants and attorneys, and collaboration with internal team members throughout the organization.
Key responsibilities include:
- Review trust documents to determine proper tax status and tax reporting requirements. Advise Trust Officers about any pertinent tax implications.
- Develop and maintain tax minimization and planning strategies for trust and estate clients including clients with multi-state operations. Document departmental trust tax memos and prepare client communications when appropriate.
- Research federal, state, and local trust taxation laws, and recommend tax strategies. Perform an annual review of trusts for taxation in other (non-PA) states.
- Provide accurate and timely data and responses to trust tax-related inquiries. Reference appropriate resources or IRS code and regulations to support responses.
- Assist in managing the timeline of trust tax milestones and submission deadlines; proactively communicate with Haverford team members regarding specific account tax matters, timelines, and compliance requirements.
- Interface with internal teams and tax preparation services to troubleshoot tax data that may be missing or miscoded; oversee corrections and resubmissions to tax preparers. Perform tax administration duties on trust accounts such as tax data mapping, open and closed account communications, track down answers to open questions, information to tax preparers for any special handling or tax treatment required, as well as identification of required federal and state tax returns, tax forms, elections, and tax-related documents.
- Provide support and subject matter expertise on trust tax forms, including Schedule K-1, Forms 1099, 5227, 1041, 706, 709, and state income tax returns for trusts and estates. Review and ensure tax returns are accurately completed by required deadlines. Review terminating trust accounts for required compliance.
- Facilitate and monitor all fiduciary tax filings, tax payments, and estimated tax payments.
- Review, resolve, and provide a copy to the tax preparer any notices or communications from taxing authorities that may affect fiduciary tax reporting.
- Monitor internal controls, implement process and efficiencies, and perform due diligence to evaluate the effectiveness of trust tax function and preparer services.
- Interface with Client Service teams as well as clients’ accountants/tax professionals and third party advisors to communicate/clarify information, respond to inquiries, and resolve trust tax matters.
- Assist in preparing for and facilitating weekly meetings with the fiduciary tax preparers and trust tax team.
- Special company tax projects (including projects related to individual, retirement, or other non-trust accounts) as necessary.
- Bachelor’s degree in accounting, business, or finance. MST or equivalent work experience preferred.
- Three to five years’ experience with a fiduciary tax background including technical expertise in UPIA and related implications in trusts preferred.
- Solid knowledge of trust tax filing requirements.
- Retirement account and retirement plan knowledge.
- Strong organization skills, accuracy, and attention to detail; exceptional aptitude for data scrubbing and reconciliation.
- Excellent analytical and problem-solving skills.
- Client-service orientation with excellent interpersonal/communication skills and the ability to articulate thoughts and engender confidence in others.
- Excellent time-management skills; ability to meet deadlines and prioritize multiple tasks.
- Proficiency with Microsoft Office suite and ability to learn new applications.
- Flexible, self‐motivated team player, who is able to work effectively and productively independently and as part of a team.
- Honesty, personal integrity, high ethical standards, and a demonstrated commitment to Haverford’s Mission and Values.
All team members of Haverford are required to comply with internal procedures as well as applicable federal, state, and self-regulatory organizations including, but not limited to, the Bank Secrecy Act of 1970 and the USA PATRIOT Act.
The Haverford Trust Company is an equal opportunity employer. The Company is committed to providing equal employment opportunity to all applicants. All applicants for employment will be provided equal and fair opportunity without regard to race, color, creed, religion, ancestry, national origin, sex, sexual orientation, age, citizenship, disability, medical condition, marital status, status as a veteran or special disabled veteran, or any other characteristic protected by law.
This position may be subject to Haverford’s Political Contribution Policy. An offer of employment may be contingent upon disclosing to Haverford the details of certain political contributions. Haverford may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Haverford’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.