Both.
Forming the basis of means it is essentially the sole basis.
OTOH,
Forming the basis for could mean it is one of the factors forming the basis.
basis of:
Agriculture is the main occupation, with tobacco and cotton crops forming the basis of much local industry.
basis for:
The company continued to prosper, forming the basis for much of the commercial activity of colonial Canada.
[emphasis mine]
Regardless, it seems there's a tendency these days to prefer for over of, especially in AmE.
English:
American English:
eCFR:
A complaint shall be filed within one year after the date on which the (...) receives a grievance forming the basis of the complaint. No complaint shall be filed more than ten years after the date on which the misconduct forming the basis for the proceeding occurred. [emphasis mine]