

DTCC has enhanced its Cost Basis Reporting Service (CBRS) to help financial firms and other market participants comply with a January 2011 mandate requiring the reporting of cost basis information to investors and the federal government.
The Cost Basis Reporting Service (CBRS) is an automated system that gives financial firms the ability to transfer customer cost basis information from one firm to another on any asset transfer. The system provides a centralized communications hub that mitigates risk, promotes standardization and helps customers meet their regulatory requirements in an efficient and cost-effective manner.
All financial intermediaries subject to the IRS regulations are eligible to apply to use CBRS, including firms who are not currently members of any service offered by one of DTCC’s affiliate companies.
After a firm transfers an asset to a counterparty, it can use CBRS to send the asset’s cost basis information to that counterparty. The service also allows a firm to send corrected cost basis information (if necessary), request cost basis if it has not received it, or reject cost basis it feels is not correct.
Please contact DTCC Relationship Services at 800-422-0582.
Last updated December 14, 2010

