Cost Basis Reporting Service (CBRS)

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.

• About

  CBRS is a service offering of DTCC Solutions LLC. CBRS provides a centralized communications hub that mitigates risk, promotes standardization, and helps customers meet their regulatory requirements in an efficient and cost-effective manner.

  • CBRS has two input record types: Asset records and Tax Lot records. A firm submits an Asset record for each asset for which it needs to pass cost basis information. The Asset record must have at least one, but can have an unlimited number of, associated Tax Lot records. Tax Lot records contain detailed cost basis information for each Asset record.
  • Cost basis information can be supplied for any asset transfer, even transactions that occur outside of DTCC’s affiliate companies.
  • The records include data elements relevant to the IRS regulations, such as information about gifted or inherited shares.

• Who Can Use the Service

  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.

• Benefits

  • Provides the industry with a secure and automated standard for passing cost basis information when assets or customer accounts transfer between financial intermediaries
  • Assists financial organizations with complying with cost basis legislation

• How the Service Works

  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.

• For More Information

  To request additional information, please click here.