May 22, 2012 - FIF Cost Basis Meeting Agenda

Please see attached the meeting materials for the FIF Cost Basis WG meeting on May 22 @ 10 AM ET.

Meeting Details

  • When: Tuesday, May 22, 2012 @ 10:00 - 11:30 AM ET
  • Dial-In: FIF Bridge 1-719-325-2630 Passcode:1031428#

Meeting Agenda

  • Benefit of Industry Debt Processing Standard
  • Review debt instrument types (see attached list)
    • Define data required for calculation
    • Identify differences (unique instruments)
    • Review Amortization/Accretion procedure
  • Transfer issues with Debt

Feb 03, 2012 - FIF Cost Basis Meeting Agenda

Please see attached notes from yesterday’s meeting. At the next meeting on Friday, Feb 3rd, we will continue reviewing the topics in the attached draft letter. Please review the questions in the appendix of the draft letter and send any feedback / new questions by 12 PM ET on Thursday, Feb 2nd.

 Meeting Details

  • When: Friday, February 3, 2012 @ 12:00 PM ET 
Meeting Agenda
  • FIF Detailed Letter Draft to IRS on Proposed Cost Basis Regulations for Debt and Options (see attached)
    • Review topics 
        ü  OID 
        ü  Transfers 
        ü  Data Availability Issues 
        §  Options Cost Basis reporting 
        §  Warrants and Rights 
        §  Customer/Taxpayer Confusion
    • Additional topics
      • Review important questions in Appendix 1 for inclusion in letter body
      • Review reasons for 18 months delay
        • Highlight implementation issues 
        • Add member feedback on 2012 resource allocation (minus what is required for fixed income and options)
      • Review Fixed Income data table for carve outs


Jan 5, 2012 - FIF Cost Basis Meeting Agenda

Please see the attached notes from last week’s meeting. Also included within the word document is a draft outline of the FIF letter on the proposed IRS Cost Basis Regulations on Debt and Options. Please review this document internally within your organization and send in your comments/thoughts by Jan 3, 2012.

The FIF Cost Basis WG will meet on Jan 5, 2012 to discuss a draft FIF letter. An Outlook invite will be sent out shortly.

Also, Wolters Kluwer Financial Services’ comment letter on the proposed Cost Basis Regulations on Debt and Options is attached.

Meeting Details

  • Date: Thursday, January 5, 2012 @ 12:00 – 1:00 PM ET