Requesting Clearstream Banking credit advices on income distributions - Update
Note: This announcement, originally published on 19 August 2013, has been updated to provide customers with information on a new common dedicated email address. Changes have been highlighted.
Effective
7 January 2022
a new common dedicated email address is replacing the two previous ones used for CBL (creation.creditadvice@clearstream.com) and for CBF (cascade.creditadvice@clearstream.com). As a result, those two old email addresses will become inactive as of 1 July 2022. However, it is highly recommended to use the new dedicated address as of 7 January 2022. The other information remains unchanged.
For the convenience of customers and to ease the documentation process for tax reclaims, customers will be able to request credit advices ad hoc and in connection with income paid by Clearstream Banking1 in the following ways:
- Via new dedicated email address, to apply for a credit advice at any time;
- Via a new checkbox added on the “Letter of Request to Clearstream Banking for Reclaim of <national> Withholding Tax” form (see the attached template2) , to apply for a credit advice in the context of a withholding tax reclaim application.
Requesting a credit advice via email
To obtain a credit advice at any time, the customer can submit a request (in English) to Clearstream Banking at the appropriate new dedicated email address:
CBL and/or CBF customers: creditadvice@clearstream.com
The email must include the following mandatory information:
Account number;
ISIN code
Income Pay date;
Tax Rate for which the credit advice is requested;
Postal address to which the original credit advice should be delivered.
Important note:
If no tax rate is mentioned in the credit advice request, we will, by default, issue one credit advice per tax rate applied to the income payment for the account. For example, if a customer has benefited from a relief at source on 1,000 shares taxed at 15% and 2,000 shares taxed at 25%, then two credit advices will be issued and the customers will be charged for the two credit advices accordingly.
Upon receipt and after verification of the submitted details, we will issue the credit advice(s) and deliver the original signed credit advice(s) by registered mail to the customer.
Requesting a credit advice via the “Letter of Request” form
To obtain the relevant credit advice in the context of a withholding tax reclaim application, the customer can tick the appropriate new box on the market-specific “Letter of Request to Clearstream Banking for Reclaim of <national> Withholding Tax” form and submit the completed form, along with the other required documentation, to Clearstream Banking at the following address:
Clearstream Operations Prague s.r.o.
Attn: PTR - Tax Services
Futurama Business Park Building B
Sokolovska 662/136b
CZ-18600 Prague 8
Czech Republic
N.B.: We will, in such cases, issue only one credit advice, reflecting the entire holding on the account and the tax withheld at the maximum rate for the requested income payment for which a refund is requested, and the customer will be charged accordingly.
Upon receipt and after verification of the submitted details, we will issue the credit advice and attach such original and signed credit advice to the reclaim request received by the customer, which we will be forwarded by registered mail to the relevant tax authorities.
Important notes:
The delivery of a credit advice may take up to 20 business days from the date on which such valid request is received by Clearstream Banking.
Clearstream Banking will accept no responsibility for any incompleteness or inaccuracy in the customer request that will delay its treatment and the delivery of the credit advice within the period of 20 business days.
It is the customer's responsibility to provide a valid and complete request in a timely manner in order to enable Clearstream Banking to process such request and deliver the credit advice in the timeline defined above.
Clearstream Banking does not guarantee that the relevant competent authorities will grant entitlement to a customer’s tax reclaim.
Fees
Credit advice fees are charged by Clearstream Banking according to the stipulations of the appropriate Clearstream Banking Fee Schedule.
Further information
The various market-specific versions of the “Letter of Request to Clearstream Banking for Reclaim of Withholding Tax” form will be updated in due course to include the new “Request for Clearstream Banking credit advice” option.
For further information, customers may contact Clearstream Banking Customer Service.
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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 attached template is provided for illustration purposes only and is not for use in a tax reclaim application.