You are viewing all posts by, Jeff Naylor

vice president, product services, SunGard’s institutional asset management business

21
May
2012

What can the fund industry learn from the broker-dealer’s tax reporting experience?

Contributor:

Broker-dealers have become the futurologists of the asset management industry. From what I have seen, the broker-dealer’s experience has affirmed the mutual fund transition to mandatory cost basis reporting will not be fully completed until 2012 IRS Information Reporting is completed. For this reason, funds need to monitor and validate cost basis activity daily to ensure success. Timely implementation of system changes for Form 1099-B reporting will allow fund companies and their transfer agents to thoroughly test forms production and reduce risk going into the 2012 tax season.... read more

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Posted in Institutional Asset Management |

vice president, product services, SunGard’s institutional asset management business

11
May
2012

Cost basis reporting for taxes: should fund companies and their transfer agents be concerned?

Contributor:

Collecting cost basis data on equities and ETFs for broker-dealers, and reporting it to shareholders on tax forms, has been a significant challenge. Many broker-dealers have struggled with compiling all of the data including books and records, cost basis reporting systems and tax reporting systems together for the 1099-B IRS form. This form is issuedread more... read more

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Posted in Alternative Investments, Institutional Asset Management, Transparency |

vice president, product services, SunGard’s institutional asset management business

22
Nov
2010

Brave new world of cost basis reporting presents opportunities to early adaptors

Contributor:

If transfer agents tried to implement a change in the tax code that would require their clients to reach out to them to address their need for solutions that incorporated operational efficiency, client service and compliance transparency, they could not have wished for more than the upcoming cost basis changes scheduled for January 1, 2011.... read more

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Posted in Efficiency, Institutional Asset Management, Transparency |

vice president, product services, SunGard’s institutional asset management business

18
Nov
2010

Setting the stage for January 1, 2011: How to avoid a return to the manual processing of yesteryear

Contributor:

Few moments in tax code history are as dramatic and full of impact as the new cost basis reporting regulations: While Section 403 of Division B of Public Law 110-343 details the legislation, the bottom line is this: Cost basis reporting will be made mandatory for all brokers executing transactions that involve publicly traded securities. January 1, 2011 is the deadline for the requirements to report realized gain/loss information to the IRS for the benefit of clients who have purchased equities. Other deadlines on mutual funds and other securities follow in 2012 and 2013.... read more

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Posted in Efficiency, Institutional Asset Management, Transparency |