How Issuers Can Use DTC's Legal Notice System (LENS) to Disseminate Cost Basis Information
LENS provides a means for issuers to report cost basis information on reorganization events, as stipulated by legislation effective January 1, 2011. LENS offers a cental 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, email the notice with "Cost Basis" in the subject line to firstname.lastname@example.org. You will receive confirmation once the notice is processed.