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Return of capital (ROC)
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This article applies to:

  • Product: ONESOURCE Trust Tax

Reviewing Return of Capital Factors

As factors are applied (if also licensing the FIS Wall Street Concepts (WSC) Income Reallocation Service) or factors are manually entered into ONESOURCE Trust Tax, those assets with return of capital factors will display in the
Factored Transactions-Return of Capital
 base register.
Each row represents a payment period that had a return of capital factor for an asset for an account. The register is sorted by trust account, then by asset ID, then by tax effective date of the payment. Additional information provided includes the taxable amount of the income payment, the number of units, the original tax code the transaction was posted to in ONESOURCE Trust Tax, and the amount of return of capital as both an amount and factor per share.
Using this base register, custom registers can be created to provide specific information needed to adjust the cost basis for these assets on your trust accounting system.
Any register can be exported for use in updating the trust accounting system for return of capital cost basis changes. You should check with a trust accounting system representative for details of parameters required to update asset holdings and/or cost basis on sales. Once the parameters are known, a custom register containing the specific details can be created. There are additional fields that can be included in custom registers that are not already included in the base register. For instance, your trust accounting system may need the return of capital factor represented as a percent of distribution rather than a percent of share. Creating a custom register and adding the
Factor
 field presents that value.
If your organization licenses ONESOURCE Trust Tax Tools, you can also create summary registers, which may be more useful when updating source systems. Contact your Client Manager for details about ONESOURCE Trust Tax Tools.
The summary register example includes the asset ID (CUSIP), posting date, return of capital amount per share, and return of capital amount per distribution. Each row represents a CUSIP’s payment/posting date with its respective return of capital factor per share and return of capital per distribution.