Most are wild caught, tagged, then released. There are several different tagging programs. If you do a google search about striped bass tagging there is some good sites that show pics of the different tags and which programs use them.
If you catch a tagged fish, you should take all the measurements like weight, length, etc., and then mail it to address that is on the tag or internet. Usually there is some sort of reward involved, whether it is a hat, patch, or even money!!!
I caught a tagged bass last year in boston harbor and got crazy exited about what the reward was going to be..$50..$100 sh-t maybe $500!!! no, it was a hat. I mean, i'm happy to contribute to any fisheries research but for christs sake gimme something I could use! like a bottle opener!!