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Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice.
[19795]
March 3, 2006
TO: OPERATIONS COMMITTEE No. 8-06
TAX COMMITTEE No. 6-06
TRANSFER AGENT ADVISORY COMMITTEE No. 15-06
RE: COST BASIS REPORTING SURVEY
Over the past few months, Congressional interest has grown in legislation that would require
brokers to report cost basis information to shareholders and the Internal Revenue Service. Such a
reporting requirement would apply upon the dispositions of securities, including mutual fund shares.
We have been asked for current information on the extent to which mutual fund shareholders are
receiving cost basis information and the types of cost basis adjustments that are being made.
Request for Information
To assist the Institute in responding to these inquiries, we would like each fund complex to
complete the attached survey. Only one response is needed from complexes with representatives on
more than one of the committees receiving this request. Your response should be faxed at your earliest
convenience, but no later than March 17, 2006, to my assistant, Ezella Wynn, at (202) 326-5841. If
you have any questions or comments regarding the survey or cost basis reporting in general, please call
Keith Lawson at (202) 326-5832 or me at (202) 326-5432.
Your response to this short survey will be greatly appreciated.
Karen Lau
Assistant Counsel
Attachment (in .pdf format)