FIS® Fixed Income Cost Basis Reporting Services enable financial institutions to enhance their existing basis tracking processes with the advanced functionality demanded by the IRS. The solution produces daily outputs for the accurate computation of income and adjusted basis across all covered debt instruments, while also accommodating all possible taxpayer elections. This service meticulously computes daily, periodic, and annual amounts for OID (Original Issue Discount), bond premium, acquisition premium, and market discount. Income entries and basis adjustments are derived from the same calculations, ensuring consistent synchronization. Furthermore, the system generates Forms 1099-B, 1099-INT, and 1099-OID for customers directly from these unified source calculations, effectively eliminating reconciliation issues and enhancing reporting accuracy.

Features & Benefits

• Supplement Existing Processes
  • Completes existing basis tracking processes with sophisticated computations and regulatory applications, ensuring comprehensive compliance.
• Support a Variety of Instruments
  • Supports a wide range of debt instruments, including Complex Payment Debt Instruments (CPDI), Variable Rate Debt Instruments (VRDI), Separate Trading of Registered Interest and Principal of Securities (STRIPs), and convertibles.
• Easy Integration
  • Integrates easily with existing cost basis reporting solutions, minimizing disruption and streamlining implementation.