How do I update cost basis information for transferred securities via Free of Payment of Global Securities?

Q: How do I update cost basis information for transferred securities via Free of Payment of Global Securities?

UPDATE COST BASIS FOR TRANSFERRED SECURITIES The cost basis information associated with transferred positions (e.g., acquisition date and price) will not be automatically provided from the delivering institution for assets sent via Free of Payment of Global Securities. Client will have to update the cost basis in Client Portal if required. Please reach out to the delivering institution in case confirmation of cost basis for the transferred positions is required. If the cost basis is not updated, then positions will be assigned with default cost basis values where the acquisition date is set to the date of transfer and the cost to the closing price of the security on the date of transfer. Use the button above or follow the below procedure to update the cost basis for transferred securities: Log in to Client Portal Click the Performance & Reports menu followed by Tax Documents In the Cost Basis panel, click the Configuration (gear) icon next to Position Transfer to see a list of position transfers by date Follow the prompts on the screen and confirm Please Note Please allow several business days for the price adjustment to appear in your statements. Additional Information Understanding Lots and Total Cost for Cost Basis Updates How do I update cost basis information for transferred securities?

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Accepted Answer

UPDATE COST BASIS FOR TRANSFERRED SECURITIES

The cost basis information associated with transferred positions (e.g., acquisition date and price) will not be automatically provided from the delivering institution for assets sent via Free of Payment of Global Securities. Client will have to update the cost basis in Client Portal if required. Please reach out to the delivering institution in case confirmation of cost basis for the transferred positions is required. If the cost basis is not updated, then positions will be assigned with default cost basis values where the acquisition date is set to the date of transfer and the cost to the closing price of the security on the date of transfer.

Use the button above or follow the below procedure to update the cost basis for transferred securities:

Log in to Client Portal
Click the Performance & Reports menu followed by Tax Documents
In the Cost Basis panel, click the Configuration (gear) icon next to Position Transfer to see a list of position transfers by date
Follow the prompts on the screen and confirm

Please Note

Please allow several business days for the price adjustment to appear in your statements.

Additional Information