The VideoLAN Forums

Does VLC write metadata to a transcoded output file. In particular, ID3V1 and ID3V2 tags to .mp3 files and Vorbis comments to .ogg files?

No, it doesn't.

All the facility is there though, all that would be required is to modify the muxers to add this data.

Just as a side not, the mp4/mov muxer already implements such a feature. It's just not been done for other muxers.