Treasury is Adopting New Reporting Requirement Regarding Cross-Border Holdings that Are Applicable to US Investment Managers

May 05, 2011
Treasury is adopting a new reporting form (“TIC SLT”) that will gather information on U.S. residents’ holdings of foreign securities and foreign residents’ holdings of U.S. securities. Investment managers may be required to report foreign securities held by their U.S. clients—including investment funds—and fund shares issued by their U.S. fund clients to foreign residents. This update provides an overview of the new reporting requirement as it applies to U.S. investment managers.