South Korea: Change in the Beneficial Owner list template for relief at source for dividend payments of DRs
Clearstream Banking1 informs clients that effective
immediately
the updated Beneficial Owner (BO) list template must be used when applying for relief at source for South Korean Depository Receipts (DRs) taxable dividend payments.
The updated BO list is available via Clearstream Banking’s Upload Beneficial Owner List application. Clients must upload the BO list using the new template and submit all required data for upcoming income payments.
Impact on clients
Clients completing the BO list template must use one of the below entity types in the “entity type” column:
- CHARITY,
- CORPORATION,
- GOVERNMENT,
- INDIVIDUAL,
- OIV,
- OIV AS BO,
- OPCIV,
- PENSION,
- SUPRANATIONAL,
- TRUST
Clients must ensure they submit the updated BO list when applying for South Korean Depository Receipts (DRs) taxable dividend payments.
Important Note: BO lists that are modified, altered, do not fit the template provided or contain incorrect data will be rejected by Clearstream Banking.
Further information
For more information, clients may contact Clearstream Banking Tax Help Desk, Client Services 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 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.
