Settlement & Asset Services

How Issuers Can Use DTC's Legal Notice System (LENS) to Disseminate Cost Basis Information

LENS provides a means for issuers to report information on various organizational actions that affects cost basis of securities such as corporate reorganizations, effects of cash/stock dividend distributions based on earnings and profits, and conversion rate adjustments on a convertible instruments that may result in distribution under section 305(c), as stipulated by legislation effective January 1, 2011. LENS offers a central location for such notices - a huge benefit to Participants who need them to prepare 1099s for their clients, and a way for issuers to reach a wide audience quickly and efficiently, free of charge.

To post a cost basis informational notice to LENS free of charge, email the notice in PDF format, to legalandtaxnotices@dtcc.com. In order to ensure that notices are posted with the most accurate data possible, please include the following information:

  • Notice Category: Legal & Subcategory: Form-8937
  • CUSIP(s) as a six digit family
  • A description (entered into the Subject line of the email)
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