NCR changed its name to NCR Voyix and its ticker symbol to VYX before NCR Voyix spun off NCR Atleos effective October 16, 2023 in a transaction meant to be tax-free to VYX shareholders. NCR Atleos began normal trading on October 16, 2023. VYX shareholders received 1 share of NATL for each 2 shares of VYX owned.

This action is a simple spinoff transaction in the accounting software. It is structured to be a non-taxable event for VYX shareholders according to the shareholder prospectus. The cost basis allocation information is calculated from the average of the opening and closing prices of NATL and VYX on the day after the spinoff completion date, October 17, 2023. This method to determine fair market value of the post spinoff companies is commonly used. Here is a link to the IRS form 8937:  https://investor.ncr.com/irs-form-8937-3

NOTE:

The cost basis allocation is dependent on the prices used for both NCR Atleos and NCR Voyix in the cost basis allocation calculations. In our experience brokers tend to use the prices found in the guidance companies post on their websites including IRS form 8937. If available our instructions will use the guidance in form 8937. If your broker does not use that guidance, or form 8937 is not publicly available, the cost basis of the companies involved as recorded in your accounting records and in your broker’s records will not match. This is not cause for concern. This is just due to the inexact nature of the tax code in this regard. Partnership tax returns have specific areas to reconcile these usually small differences. ICLUBcentral tax printer software automatically fills in these adjustments in the normal operation of the software using the data imported from your accounting records and that you enter from your 1099.

The Name Change

Go to Accounting > Securities > Change Company Name or Ticker

Select NCR from the drop-down menu of companies owned. Click Continue button.

In the next window, in the Basic Settings section, change the name of NCR to NCR Voyix. Change the ticker symbol to VYX. Be sure the Quote Symbol field in the Advanced Settings is blank or is VYX. NCR Voyix is a U.S. company. Change the Country field to United States, if needed.

The Spinoff Entry

Enter the spinoff after making the name change entries. Go to Accounting > Securities > Record spinoff of securities in myICLUB.com. If you are unfamiliar with spinoff transactions you can get help at this URL: https://www.myiclub.com/faq/article.aspx?id=54

Here is the information you need to complete the spinoff.

• Date: 10/16/2023
• Select Parent Security (or Parent Company) : NCR Voyix (VYX)
• Remaining Basis Percentage: 60.97
• Cash received:  See your broker statement for cash-in-lieu received
• Spinoff Security (or Symbol of New Company) : NCR Atleos (NATL)
• Shares received : 0.50 x (# of VYX shares owned)   (Include fractional shares.)
  • For example, if you owned 100 VYX shares, you should receive 0.50 x 100 = 50 NATL shares.
• Price Per Share : 20.92   (Price used on form 8937)

Save the transaction and the spinoff has been entered.

Since NCR Atleos (NATL) is likely a new security to the portfolio, you will receive a message to check the country of incorporation. NATL is incorporated in Maryland according to an SEC filing, so will be a United States corporation. The default country designation in myICLUB is United States.