The cost basis reporting law requires brokers to take into account all information provided in an applicable IRS Form 8937 when reporting the sale or transfer of a covered security. Every year issuers file thousands of Forms 8937. Yet finding and analyzing all relevant issuer statements can be time-consuming, tedious and error prone.
CISR™ 8937 centralizes coverage of publicly available IRS Form 8937 issuer statements. As a workflow tool, CISR™ 8937 provides fielded corporate action, security and taxability details and links to the original Form 8937-saving time and reducing resource burdens.
The Internal Revenue Code requires issuers to report return of capital (ROC) details on IRS Form 8937. Because CISR™ 8937 provides comprehensive coverage of these issuer statements, it also provide complete coverage of essential ROC tax reporting details.
Learn more about the cost basis reporting law.