NSCC/DTC Billing for Services and Tax Reporting
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A. View the SFT section from your NSCC monthly bill. The NSCC billing structure for the SFT Clearing service is available in the NSCC Rules & Procedures and the NSCC Fee Guide.
A. Your firm’s street-side activity in the SFT Clearing service triggers DTC billing activity. This is shown on your DTC monthly invoice. For more information, see the DTC Fee Guide.
A. NSCC members that participate in the SFT Clearing service are subject to the pertinent U.S. tax laws, including, but not limited to, U.S. federal tax withholding taxes and reporting requirements. These taxes are generally imposed on all payments that are treated as U.S. sourced payments under the U.S. Tax Code and U.S. Treasury Regulations. For example, certain credits processed in SAS on behalf of participating members and the interest earned on the clearing funds deposited with the NSCC may be subject to withholding, reporting, or both.