Ireland: Documentation to reclaim dividend withholding tax for French UCITSs

13.06.2012

Effective

immediately

new documentation may be submitted by final beneficial owners that are French Undertakings for Collective Investment in Transferable Securities (UCITSs) to apply for a refund of Irish withholding tax.

Background

We have received information from the Irish Revenue Commissioners (IRC) concerning the certification to be submitted by French UCITSs for a standard refund application. In addition to the certification previously required, a separate attestation, certified by the French Tax Authorities (FTA), is now accepted in cases where the FTA later refuse to sign and stamp Section 2 of the Irish Form V2C.

French UCITSs are eligible for a refund of Irish dividend withholding tax if they provide proof from the FTA that they are residents of France for tax purposes. This certification can be provided:

  • On the Irish Form V2C, duly completed with Section 2 signed and stamped by the FTA; or
  • On an attestation signed, stamped by the FTA and certifying that the relevant French UCITS and its managing company are established and managed in France (the “Additional Attestation”). The IRC has not provided any template for the Additional Attestation and so any format is accepted as long as the required information is included.

Impact on customers

To apply for a standard refund of Irish dividend withholding tax for French UCITSs, the following documentation must be submitted:

  • Letter of request to Clearstream Banking for refund of Irish dividend withholding tax;
  • Claim from or on behalf of certain non-resident persons for refund of Irish dividend withholding tax;
  • A Power of Attorney (if the refund forms are completed and signed by another entity on behalf of the beneficial owner);
  • The chain of credit advices;

and:

  • For reclaims filed with regard to payments made during the current year:

    • Irish Form V2C including Section 2 stamped and signed by the FTA; or
    • Irish Form V2C (with Section 2 unstamped and unsigned by the FTA but with Section 1 or 3 duly completed by the beneficial owner) plus Additional Attestation. Both forms must be signed during the same year.

  • For reclaims filed with regard to payments made during a previous year but by the statutory deadline1:

    • Irish Form V2C stamped and signed for the current year; or
    • Irish Form V2C (with Section 2 unstamped and unsigned by the FTA but with Section 1 or 3 duly completed by the beneficial owner) plus Additional Attestation. Both forms must be signed during the current year;

    and:

    • Certificate of Residence issued by the FTA for the year in which the dividend payment was made; or
    • Additional Attestation for the year in which the dividend payment was made.

Further information

For further information, please contact the Clearstream Banking2 Tax Help Desk on:

LuxembourgFrankfurt
Email:tax@clearstream.comtax@clearstream.com
Telephone:+352-243-32835+49-(0) 69-2 11-1 3821
Fax:+352-243-632835+49-(0) 69-2 11-61 3821

or Clearstream Banking Customer Service or your Relationship Officer.

1. The statutory deadline for reclaims of withholding tax on Irish dividends is four years following the end of the year in which the income payment was made. Further details are available in our Market Taxation Guide – Ireland.
2. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in the Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500 (CBF) and Clearstream Banking, société anonyme, registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Register of Commerce and Companies under number B-9248 (CBL).

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