The Domestic Tax Reporting Service (DTax) provides income classification information necessary for 1099 reporting.

Overview

DTax accumulates year-end tax reporting information on various security types, including regulated investment companies (RICs), real estate investment trusts (REITs), and common stocks to accurately and timely complete 1099 reporting.  The service provides vital post payment year-end tax reclassification information to financial institutions, significantly streamlining their 1099 reporting to customers. It supplies information on more than 20,000 securities whose tax status is frequently reclassified at year-end. DTax replaces the cumbersome, manual collection of this information by fax and phone.

The service allows you to conduct individual inquires on a CUSIP, ticker or security description basis, as well as perform advanced searches for specific groups of securities (e.g., those securities that reclassified yesterday, last week, etc.).

Who Can Use the Service

All DTC participants may use DTax to obtain income classification on security.

Benefits

DTax provides a centralized location for year-end tax information for both DTC-eligible and non-eligible securities.  This information is vital to participants for the correct tax classifications for 1099 reporting.  DTax provides this information directly from issuers and agents in a timely fashion to meet the tight tax reporting deadlines.

How the Service Works

Do individual inquires on a CUSIP, ticker or security description basis using the Domestic Tax Reporting function on PBS, or the DTAX function on PTS.

For More Information

Please contact Relationship Management at 800-422-0582.