Kevin McCosker
Kevin McCosker is currently leading the industry effort to implement the IRS requirements for Cost Basis reporting. In that role he is working with many industry organizations to identify solutions to reporting issues arising from this task. Kevin represented SIFMA at a meeting with the Senate Finance Committee to discuss the requirements, the difficulties surrounding this request, and to request a delay in the date. While a request for a delay was denied, they clearly understand some of the issues that need to be addressed. He continues to work with Mutual Fund companies to encourage them to use DTCC’s ACATS system and Cost Basis Reporting System (CBRS) to properly track and transfer cost basis information with customer account transfers. This will help expedite the transfer of account process and meet the IRS requirements. He is a member of DTCC’s Steering Committee for CBRS and is actively involved with DTCC in improving the CBRS system and expanding its use for all organizations. He is working with industry groups to develop ways to handle all security movements such as deposits, withdrawals, DRS transactions, free receives, deliveries, certificate movements, and other such matters.