305c tax module
Solve the processing problems associated with the tax treatment of CRAs
For US financial institutions concerned with the tax treatment of conversion rate adjustments (CRAs) to stock dividends, stock splits and the distribution of stock rights, MeritSoft’s 305c tax module:
- Simplifies and automates complex 305c tax calculations.
- Ensures accuracy and quality of 305c tax reported numbers.
Unlike other vendors in the market, 305c is the only solution configured to:
- Facilitate proactive case management.
- Streamline workflow.
- Adhere to regulatory compliance demands.
- Automate the processing of tax payments and settlement of balances.
Streamline reporting and forecasting
Reporting in 305c brings you:
- Transparency and auditability
- Management information for client servicing and regulatory needs.
Reduce time lost to 305c tax preparation and the number of manual errors
Section 305(c) treats increases of CRA as potentially taxable dividends to the convertible debt holder at the time the CRA occurs. Use the 305(c) module for:
- Fixed/Variable CRA tracking.
- CRA calculations.
- Distribution event tracking.
- Tax calculation.
Meet audit, compliance and risk requirements
Straight through processing workflow provides a comprehensive audit trail.
- Possess daily accruals.
- Track payables and receivables.
- Track client money.
Be able to fully address your business needs
- Keep up to date with changing policies and procedures.
Address specific operational needs by easily adding on modules:
Manage payments, postings, P&L calculations and SSIs. Modules can be purchased separately or added as your business needs grow.
Get set up quickly
305c is a module of Transaction Tax Manager. Like Transaction Tax Manager, 305c is a ready-made solution, readily available, is adaptable and can be implemented within a month.
This means in no time your processing of 305c tax levied on CRA dividends will be automatically captured and processed, so you can concentrate on your core business activities.
Trouble free maintenance
The 305c module utilises existing feeds/data. Furthermore it can be administered and supported by non-IT professionals.
This means you are guaranteed trouble free maintenance and IT resources will not be burdened.
Have Questions?
To learn more about our 305C solution please Contact Us now.
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