April 21, 1993
TO: TAX COMMITTEE NO. 23-93
OPERATIONS COMMITTEE NO. 16-93
TRANSFER AGENT ADVISORY COMMITTEE NO. 30-93
RE: MAY 12 SHAREHOLDER BASIS REPORTING MEETING
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As you may know, the Institute has held several meetings
with Institute members recently to discuss various technical and
operational issues relating to the cost basis reporting proposal
contained in H.R. 13, which was introduced on January 5 by House
Ways and Means Committee Chairman Rostenkowski. (See, e.g.,
Institute Memorandum to Tax Committee No. 4-93, Accounting/
Treasurers Committee No. 4-93, Operations Committee No. 2-93 and
Transfer Agent Advisory Committee No. 6-93, dated January 19,
1993.) In addition, the Institute has met with IRS personnel,
Congressional staffers, members of the Securities Industry
Association and representatives of National Securities Clearing
Corporation and Depository Trust Company.
The next meeting of our shareholder basis reporting working
group will be held at the Institute on Wednesday, May 12, 1993 at
1:30 p.m. Lunch will be served beginning at 12:30 p.m.
Among the issues that we will consider are those raised by
the attached two-page memorandum prepared by the SIA. Also
attached is a one-page flow chart prepared by the SIA
illustrating how cost basis information could flow from funds to
brokers and from broker to broker.
Anyone interested in attending this meeting should call
Theresa Brice at (202) 955-3525 no later than Monday, May 10.
Theresa will send a final agenda to anyone who calls her.
We will keep you informed of developments.
Keith D. Lawson
Associate Counsel - Tax
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