Cost Basis Reporting Service (CBRS)

Transfer customer cost basis information between financial firms through a centralized, automated solution designed to improve accuracy and efficiency.
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Cost Basis Reporting Service (CBRS)

Standardize Cost Basis Transfers

When assets are transferred between financial institutions, accurately passing along cost basis information is critical for tax reporting and regulatory compliance. Manual processes can lead to delays, errors, and increased operational risk. 
 
DTCC’s Cost Basis Reporting Service (CBRS) solves this challenge by providing an automated, secure system for transferring customer cost basis data between firms. CBRS acts as a centralized communications hub that reduces risk, promotes standardization, and helps firms meet IRS requirements efficiently and cost-effectively.

Key Features & Benefits

Automated Data Exchange

Facilitates the standardized electronic transfer of cost basis information between firms, reducing manual processing and improving data accuracy.

Improved Data Accuracy

Firms can send, correct, request, or reject data to help maintain accurate records and resolve missing or incorrect information.

IRS Reporting Support

Capture detailed data, including gifted or inherited shares, to help firms meet reporting requirements.

Open Participation

Any financial intermediary subject to IRS regulations can apply, even if not a DTCC member.

Who Can Use This Service

Financial Intermediaries

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.

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