ADP Brokerage Services Group has entered into an arrangement with The Depository Trust & Clearing Corp. to distribute the depository’s Domestic Tax Reporting Service, known as DTax to ADP clients.

The service provides year-end tax reclassification data to financial institutions and streamlines their 1099 reporting to customers, ADP said. The service provides information about more than 10,000 mutual funds, real estate investment trusts, or REITS, and other securities whose tax status frequently changes at year-end.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.