Fidelity FDRXX not being recognized

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brianCIO
brianCIO I do not have Quicken yet Member
in Errors and Troubleshooting (Windows)

Hello - we have a client how owns Fidelity Government Cash Reserves (FDRXX) in a non-qualified account. Fidelity is also the custodian of the assets. Fidelity recently changed their core sweep/account to FCASH (previously it was FDRXX).

Now, the issue is that FDRXX is not being recognized in their account in Quicken (it does not show up). Are you working with Fidelity to resolve this issue? Thanks!

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Answers

  • Snakebit12
    Snakebit12 Quicken Windows Subscription Member

    I use the SPAXX money market account and simply leave it in Quicken as "cash". Works fine.

  • CaliQkn
    CaliQkn Quicken Windows Subscription Member ✭✭✭✭

    @brianCIO - it seems like users with this situation have used different methods to cope with this change with Fidelity. From what I understand FDRXX was liquidated and replaced by FCASH.

    The fund associated with FCASH is Fidelity® Investments Money Market - Money Market Portfolio - Institutional Class (FNSXX). This is a money market mutual fund offered by Fidelity. The CUSIP is 315994103

  • CaliQkn
    CaliQkn Quicken Windows Subscription Member ✭✭✭✭
    edited June 5

    @brianCIO it is not clear what other users have done with the fund change. It seems like some have liquidated FDRXX and simply left FCASH as cash in their Fidelity account in Quicken. But if share transactions are being downloaded for FCASH to Quicken, then the underlying fund FNSXX (for FCASH) could be set up on Quicken.

  • RogerWF
    RogerWF Quicken Windows Subscription Member ✭✭

    At some point recently, Quicken asked me if I wanted to treat the FDRXX money market fund as cash. Probably related to this change by Fidelity, which I wasn't aware of (until seeing this thread here). So I simply replied OK, thinking that I might as well go along with whatever would be better from Quicken's perspective.

    Now it seems as if historical ReinvDiv transactions have all been converted to simple Div transactions, which has thrown off the Money Market and Cash security balances. I just became aware of the issue and am just starting to investigate more thoroughly, and thought I'd look for info here. Perhaps Buy and Sell transactions might also be affected?

    I hope I end up being wrong, but if I'm right: will it be worth my while to edit all the historical Div transactions back to ReinvDiv? Or will Quicken just undo them again? Or should I even care about the historical?

    Has anyone else seen similar behavior?

    Thanks!

  • RogerWF
    RogerWF Quicken Windows Subscription Member ✭✭

    And, yes, it appears that the historical Buy and Sell transactions are now gone. So I'm just trying to figure out the best way to handle this going forward.

  • recursor1
    recursor1 Quicken Windows Subscription Member ✭✭

    So, there is a very simple solution here. Liquidate/Sell all the FDRXX shares, and buy FCASH. Now, while FCASH has it's own ticker symbol, you can't look it up and add it in Quicken (not yet anyway). But what you can do instead is use the reset DTSTART and do all the refresh options for that account in the Online Center. Doing so will download the latest security list from Fidelity, and prompt you to add FCASH to Quicken's security list.

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