Tax information reporting is a complex task, with unique and varying requirements for different types of securities. Now you can help ensure that you are capturing and reporting these events by augmenting your general tax reporting solution with Wall Street Concepts’ asset class services.
As a specialist with three decades of experience in tax information reporting, Wall Street Concepts can identify special situations and help ensure that your firm is compliant and that your investors are well informed of the tax implications of their investments.
Beyond tax reporting, Wall Street Concepts’ services provide information that is fundamental to the ongoing tracking of cost basis. This includes accrual of market discount and acquisition premium and the capture of distributions such as liquidations and returns of capital.
Its asset class services provide a broad range of coverage and include:
All Mortgage Backed Income Reporting – for all mortgage backed securities, including REMICs, Widely Held Fixed Investment Trusts (WHFITs) and CMOs, computing reportable income and expenses
Income Reallocation Service – transaction-based service for Regulated Investment Companies (RICs) and Real Estate Investment Trusts (REITs) capturing post-payment changes to tax characterizations
Long Term Original Issue Discount (OID) Services – transaction-based service for computing the accrual of OID on non-collateralized instruments
Master Limited Partnership Reporting – identifies, collects and distributes the required Street Name information to Master Limited Partnerships
TEFRA Glossary – a database of securities that require special handling for reportable events such as deemed payments, interest excesses and shortfalls on contingent payment debt and allocation of payments on structured products
Unit Investment Trust (UIT) Service – processes UIT transactions to produce year-end tax information reporting consistent with WHFIT reporting requirements
Wall Street Concepts can handle all of your income processing, including post-payment tax allocations, accruals, and the coordination of non-qualified interest, helping to ensure that you know what your clients hold – and that your clients understand as well.
Benefits of Wall Street Concepts' Asset Class Services:
Help mitigate regulatory and reputational risk by ensuring that your tax reporting is compliant and comprehensive
Leverage Wall Street Concepts’ deep knowledge and experience in information reporting and related reporting issues
Provide essential information for ongoing cost basis computations
Identify client holdings for better service and your clients’ own knowledge
Streamline operations by collecting and processing data for you
