US Tax Query

The Report Type must be a dynamic list from the USTAX database.

It contains a drop down list with the following values:

• 1042-S Pooled
• 1042-S Nominative
• 1099 General Reporting
• 1099 Reporting of Interests
• 1099 Reporting of Dividends
• 1099 Reporting of Proceeds From Broker
• 1099 Reporting for OID
• No Reporting

Consists of three radio buttons. Only one of the three buttons can be selected at any one time (as is the nature of radio buttons):

• All Payments
• Split Payments Excluded (those ones where there has been no split between different beneficial owners)
• Split Payments Only (only those ones where there has been splits on more than one beneficiary)

Allows the user to select a tax rate (percentage) in green:

EXEMPT 0

N/a 30

TAX10 10

TAX15 15

TAX20 20

TAX30 30

BACKUP 30.5

USNOTEXM 30.5

TAX25 25

BACKSOID 30.5

TAX17.5 17.5

UNDOC 30

N/a US 30.5

BACKUP1 31

BACKUP2 30

N/a US1 31

N/A US2 30

FATCA30 30

FATCA-QI 30

Note that one rate may correspond to more than one description.

Limited from 0 to 100.

The customer’s holding or the Beneficial Owner(s) holding in the underlying securities.

Holding quantity: maximum number of digits allowed by Clearstream applications are kept at 20 digits (leading zeroes, sign or comma not included): integer + decimal parts or integer part of nominal quantities (if no decimal part in the nominal quantity), Maximum length for the decimal part is 6 digits.

Contains the ISIN of the instrument input manually or selected via the lookup.

Input of multiple Financial instruments is allowed.

Drop down list containing the event type codes valid for the US Tax Report:

• Coupon Floater
• Coupon Straight
• Coupon Warrant
• Dividend
• Equity Maturity
• Warrant Maturity
• Partial Redemption
• Drawing Partial Redemption
• Pool Factor
• Early Redemption
• Final Redemption
• Reinvestment

The current payment processing status of a taxable or reportable income event.

Drop down list containing the possible Event Statuses (Please Select…, PAID, REPAID, REVERSED)

• PAID: A taxable or reportable income payment has been processed.

• REVERSED: A previously “paid” taxable or reportable income payment has been reversed. That is, an income payment has been reversed because, for example, funds have not been received from a depository or the price or currency is different from the one originally indicated by the depository at the time of payment)

• REPAID: A previously “reversed” taxable or reportable income payment has been re-issued with the repaid functionality for the corrected details.

A group of three radio buttons: Record Date, Booking Date and Value Date.

• Record Date = The date at which, after the daytime processing, Clearstream Banking records holdings in the security as being an entitled position.

• Value Date = Value date applied to the proceeds

• Booking Date = Processing Date - Date when the income proceeds are posted on the account

The status of a taxable or reportable payment in the tax reporting database.

Drop down list of reportable status codes in US Tax Application :

• All, excluding deleted

• Authorised

• Re-Authorised

• Deleted

AUTHORISED: The taxable or reportable payment has been split to the underlying beneficial owners and the appropriate withholding tax rate and report type have been assigned per beneficial owner, according to customer certification.

RE-AUTHORISED: A payment has been authorised more than once and has been adjusted during the authorisations.

DELETED: A previously authorised or re-authorised payment has been removed from the US tax reporting database

All, excluding deleted: All the valid not deleted payments. (RS has to extract this way)

Allows the end-user to query in “a delta mode” i.e. to query US Tax payments that have had their status changed within the requested date interval.

The “Last Update” parameter is related to the “Payment”, i.e. the reported payment will be the one with the last update payment and with latest splits and beneficial owner.

The drop down list will display the tax type:

• FATCA
• QI

Allows the user to enter the query based on the coding defined by the Internal Revenue Service (IRS).

With FATCA, a validity period for a code and decode was introduced. The list of IRS (Internal Revenue Service) income codes must be a dynamic list from the USTAX database.

Drop down list of codes. The drop down list will display the decode value next to the code. (e.g. “06 Dividends paid by U.S. corporations-general”):

• Default (securities sales)
• Interest paid by US obligors
• Interest on real property mortgages
• Interest paid to controlling foreign corporations
• Interest paid by foreign corporations
• Interest on tax-free covenant bonds
• Dividends paid by US corporations
• Dividends qualifying for direct dividend rate
• Dividends paid by foreign corporations
• Capital gains
• Industrial royalties
• Motion picture or television copyright royalties
• Other royalties (e.g. copyright, recording, publishing)
• Real property income and natural resources royalties
• Pensions, annuities, alimony and/or insurance premium
• Scholarship or fellowship grants
• Compensation for independent personal services
• Compensation for dependent personal services
• Compensation for teaching
• Compensation during studying and training
• Earnings as an artist or an athlete
• Gross income other
• Gross income—Capital gain dividend
• Interest paid on deposit with a foreign branch of a domestic corporation or partnership
• Real estate investment trust (REIT) distributions of capital gains
• Trust distributions subject to IRC section 1445
• Unsevered growing crops and timber distributions by a trust subject to IRC section 1445
• Publicly traded partnership distributions subject to IRC section 1446
• Gambling winnings
• Deposit interest
• Long OID - Between 184 days and 1 year
• Short OID - Less than 183 days
• Notional principal contract income
• Substitute payment – interest
• Substitute payment – dividends
• Substitute payment – other
• Capital gains distributions
• Return of capital
• Eligible deferred compensation items subject to IRC section 877A(d)(1)
• Distributions from a nongrantor trust subject to IRC section 877A(f)(1)
• Other US Source dividend equivalents under IRC section 871(m) (formerly 871(l))
• Guarantee of indebtedness
• Earnings as an artist or athlete—no central withholding agreement
• Earnings as an artist or athlete—central withholding agreement
• Specified Federal procurement Payments
• Income previously reported under escrow procedure
• Other income
• Other income
• Undefined income type

With FATCA, a validity period was introduced for a code and decode. The list of CH3 Exemption codes must be a dynamic list from USTAX database.

Drop down list of codes. The drop down list will display the decode value next to the code. (e.g. “01 Effectively connected income”):

• Income effectively connected with a U.S. trade or business
• Exempt under Internal Revenue Code section (other than portfolio interest)
• Income is not from U.S. sources
• Exempt under tax treaty
• Portfolio interest exempt under an Internal Revenue Code section DEFAULT FOR INTEREST INCOME
• Qualified Intermediary that assumes primary withholding responsibility
• Withholding foreign partnership or withholding foreign trust
• US Branch treaded as a U.S. persons
• Qualified Intermediary represents income is exempt
• Territory FI treated as U.S. Person
• Qualified Securities Lender that assumes primary withholding responsibility
• Qualified Intermediary represents that income is exempt
• Qualified Securities Lender that assumes primary withholding responsibility
• Payee subjected to chapter 4 withholding

Allows the user to enter the query based on the classification of the recipient of a specific income payment.

With FATCA, a validity period was introduced for a code and decode, the list of CH3 Recipient Types must be a dynamic list from USTAX database.

Drop down list of codes. The drop down list will display the decode value next to the code. (e.g. “01 Individual”):

• U.S. Withholding Agent—FI
• U.S. Withholding Agent—Other
• Territory FI—treated as U.S. Person
• Territory FI—not treated as U.S. Person
• U.S. branch of Participating FFI—treated as U.S. Person
• U.S. branch of Participating FFI—not treated as U.S. Person
• U.S. branch of Registered Deemed-Compliant FFI—treated as U.S. Person)
• Partnership other than Withholding Foreign Partnership
• Withholding Foreign Partnership
• Trust other than Withholding Foreign Trust
• Withholding Foreign Trust
• Qualified intermediary
• Qualified Intermediary—Branch under Qualified Intermediary Agreement
• Qualified Intermediary—Branch not under Qualified Intermediary Agreement
• Qualified Intermediary—Foreign Branch of U.S. FI
• Qualified Securities Lender—Qualified Intermediary
• Qualified Securities Lender—Other
• Corporation
• Individual
• Unknown Recipient
• Private Foundation
• International Organization
• Tax Exempt Organization (Section 501(c) entities)
• Unknown Recipient
• Artist or Athlete
• Pension
• Foreign Government—Integral Part
• Foreign Government—Controlled Entity
• Government of U.S. territory
• Foreign Central Bank of Issue
• Nonqualified Intermediary
• Hybrid making treaty claim
• Withholding Rate Pool—General
• Withholding Rate Pool—Exempt Organization
• PAI Withholding Rate Pool—General
• PAI Withholding Rate Pool—Exempt Organization
• Agency Withholding Rate Pool—General
• Agency Withholding Rate Pool—Exempt Organization

With FATCA, a validity period was introduced for a code and decode, the list of CH4 Exemption Codes must be a dynamic list from USTAX database.

Drop down list of codes. The drop down list will display the decode value next to the code. (e.g. “13 Grandfathered payment”):

• Grandfathered payment
• Effectively connected income
• Payee not subject to chapter 4 withholding
• Excluded nonfinancial payment
• Foreign Entity that assumes primary withholding responsibility
• U.S. Payees—of participating FFI or registered deemed-compliant FFI
• Exempt from withholding under IGA
• Dormant account
• Excluded Offshore payments

With FATCA, a validity period was introduced for a code and decode, the list of CH4 Recipient Types must be a dynamic list from USTAX database.

Drop down list of codes. The drop down list will display the decode value next to the code. (e.g. “01 U.S.Withholding Agent-FI”):

• U.S. Withholding Agent—FI
• U.S. Withholding Agent—Other
• Territory FI—not treated as U.S. Person
• Territory FI—treated as U.S. Person
• U.S. branch of Participating FFI—treated as U.S. Person
• U.S. branch of Participating FFI—not treated as U.S. Person
• U.S. branch of Registered Deemed-Compliant FFI—treated as U.S. Person
• Participating FFI—Other
• Participating FFI—Reporting Model 2 FFI
• Registered Deemed-Compliant FFI—Reporting Model 1 FFI
• Registered Deemed-Compliant FFI—Sponsored Entity
• Registered Deemed-Compliant FFI—Other
• Certified Deemed-Compliant FFI—Other
• Certified Deemed-Compliant FFI—FFI with Low Value Accounts
• Certified Deemed-Compliant FFI—Non-Registering Local Bank
• Certified Deemed-Compliant FFI—Sponsored Entity
• Certified Deemed-Compliant FFI—Investment Advisor or Investment manager
• Nonparticipating FFI
• Owner-Documented FFI
• Limited Branch treated as Nonparticipating FFI
• Limited FFI treated as Nonparticipating FFI
• Passive NFFE identifying Substantial U.S. Owners
• Passive NFFE with no Substantial U.S. Owners
• Publicly Traded NFFE or Affiliate of Publicly Traded NFFE
• Active NFFE
• Excepted NFFE—Other
• Individual
• Section 501(c) Entities
• Excepted Territory NFFE
• Exempt Beneficial Owner
• Entity Wholly Owned By Exempt Beneficial Owners
• Unknown Recipient
• Recalcitrant Account Holder
• NFFE—WP or WT
• Non reporting IGA FFI
• Direct reporting NFFE
• US reportable account
• Non-consenting US account
• Sponsored direct reporting NFFE
• Excepted Inter-affiliate FFI
• Undocumented Pre-existing obligation
• Recalcitrant Pool—No U.S. Indicia
• Recalcitrant Pool—U.S. Indicia
• Recalcitrant Pool—Dormant Account
• Recalcitrant Pool—U.S. Persons
• Recalcitrant Pool—Passive NFFEs
• Nonparticipating FFI Pool
• U.S. Payees Pool

The search of the beneficial owner must be limited to the beneficial owners linked to the Account(s) selected.

You will be able to sort the query by the below list:

ICSD/CSD Identification

Party Identifier

Name

Country

City

Description of the financial instrument

Will be “UNPUBLISHED” for unpublished securities.

Columns names

• Original Currency XXX
• Currency USD
• Exchange Rate
• Tax Rate

XXX the Currency of the payment