Sweden: Amended per-payment instruction requirements for tax-exempt entities requesting relief at source or quick refund
Further to Announcement A23087, Clearstream Banking1 informs clients that effective
24 November 2025
clients must, in the per-payment instruction, disclose the beneficial owner (BO) details by using the “Unique BO ID”,no longer the “Clearstream Banking certificate reference ID”, when requesting relief at source or quick refund on dividends from Swedish equities for specific beneficial owner types. The new requirement applies to the following tax-exempt entities (0% withholding tax) as beneficial owners:
- Supranational organisations and foreign governments;
- Undertakings for collective investment in transferable securities (UCITS) funds; and
- Non-UCITS funds.
This “Unique BO ID” can be found in:
- the MT568 confirmation sent by Clearstream Banking to clients confirming the receipt of the certificate; or
- Xact Web Portal (Tax Certificate Query).
The full BO details are hereafter retrieved by Clearstream Banking from the BO certificates on record in Clearstream Banking using the provided Unique BO ID and therefore no longer need to be disclosed per payment.
Formatting requirements
The per-payment instruction must be submitted via an MT565 Corporate action instruction message in Xact via Swift or a CA Instruction in Xact Web Portal.
Furthermore, the per-payment instruction must be provided for each tax rate and country of tax residence requested, if applicable, and include:
- Impacted Clearstream Banking account number;
- ISIN;
- Corporate ID;
- Total holding;
- Number of shares for which the reduced or exempt tax rate applies.
Additionally, the following formatting information is required in the per-payment instruction in the following sections for the above-mentioned tax-exempt beneficial owner types:
Beneficial owner details | Xact via Swift (Sequence C: BENODET) | Xact Web Portal (Section: Beneficial owner details) |
Unique BO ID | :95R::OWND/CEDE/ | BO_ID |
For full formatting requirements of these instructions, clients should refer to the MT564 Corporate Action Notification, to the Xact via Swift User Guide, and Announcements C18050 and C21034.
Impact on clients
Impacted clients must submit their per-payment instructions according to the new requirements described above.
Per-payment instructions submitted with the “Clearstream Banking certificate reference ID” instead of the “Unique BO ID” will be rejected from the effective date.
There is no change in the procedure for clients instructing for beneficial owners that are eligible for the general Double Taxation Treaty.
Further information
For further information, clients may contact Clearstream Banking Client Services, their Relationship Officer or the Tax Help Desk.
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1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.
Clearstream Banking S.A. is registered as an Australian CS (Overseas) Facility, under subsection 824B(2) of the Corporations Act 2001, with registration number ARBN 675 244 783.