U.S.A.: Deadline to reclaim U.S. taxes withheld during the first three quarters of a calendar year
Clearstream Banking1 informs customers that it will accept applications for reclaim of U.S. taxes withheld on dividend and interest payments made from 1 January to 30 September of a calendar year (N) until 31 October N.
Clearstream Banking will process any reclaim application received after this deadline on a “best efforts” basis and accordingly apply the related extra fee as described in the Clearstream Banking Fee Schedule.
Reminder
Clearstream Banking processes reimbursements in the order received and only if funds are sufficient in the tax account 2. If a reimbursement could not be made before the end of the calendar year due to insufficient funds in Clearstream Banking’s tax account, customers must apply for a refund directly from the IRS.
Further information
For further information, customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Customer Service or their Relationship Officer.
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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 customers 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.
2. The QI Agreement with the IRS allows Clearstream Banking to adjust over-withheld tax either by setting it off against subsequent withholding (“set off”) or by reimbursement. As Clearstream Banking makes weekly deposits via the Electronic Federal Tax Payment System (EFTPS), there may not be sufficient funds in Clearstream Banking’s tax account to make a reimbursement at the precise time that the customer submits a valid reclaim request.