Should custodians report the holdings of long-term securities held for customers on TIC Form S?
A. No. Custodial holdings of long-term securities should not be reported on TIC Form S. TIC Form S is used to report transactions in long-term securities, not holdings. However, custodians have the responsibility to report redemptions of securities under certain circumstances. Refer to the TIC Form S Fact Sheet 6 (What Transactions to Report – U.S.-Resident Custodians). The TIC Form S Fact Sheets can be found at http://www.treas.gov/tic/srptresp.805.pdf .
