The Depository Trust & Clearing Corp. has begun testing an enhanced version of its cost-basis reporting service to help financial intermediaries pass cost-basis information to each other when customer assets move from one firm to another.

The enhanced Cost Basis Reporting Service (CBRS) is set to go live on Dec. 10, three weeks before the Internal Revenue Service’s new requirements for financial firms to report cost basis information for equities to the federal government and investors take effect. The deadline for mutual funds is Jan. 1, 2012 and for debt, options and other securities it is Jan. 1, 2013.

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