Changes to Mutual Fund Cost Basis Reporting

As of January 1, 2011, a new law - part of the Economic Stabilization Act of 2008 - requires Raymond James (along with all broker/dealers, banks, custodians and transfer agents) to capture and report to the IRS detailed information on covered securities sales. 

  • This change only affects taxable accounts.
  • To select the average cost method, a signed Cost Basis Election form will be submitted to Raymond James on behalf of Center clients.
  • Center clients will receive a letter outlining important details and the Cost Basis Election form by email or regular mail in the month of November.

 Please feel free to contact your planner at 248-948-7900 with questions.