U.S.A.: Reminder: Deadline for 2017 U.S. withholding tax reclaims

03.10.2017

Clearstream Banking1 will accept customer applications for reclaim of withholding tax on dividend and interest payments made on U.S. securities in 2017 only until

2 January 2018

If we receive a reclaim application after this deadline, the customer will be directed to apply directly to the U.S. Internal Revenue Service (IRS) for a refund request.

We would also remind customers that, under our Qualified Intermediary (QI) Agreement, we cannot process reclaims after the end of the 1042-S reporting period in the year following the tax period. However, the above reclaim deadline has been set in order to ensure timely reporting.

Please note that reclaim requests of tax withheld will only be processed in the original currency if the complete reclaim request is received by Clearstream Banking no later than 10:00 CET five business days after the income payment date.

Any reclaim request received by Clearstream Banking after this deadline will be processed in USD.

Details of the foreign exchange, if applicable, will be available in CreationOnline.  Individual SWIFT messages  will not be sent to customers .

Note: Reclaims of withholding tax will only be processed, in the order received, up to the start of the reporting period and only when there are sufficient funds in the tax account2.

Where to obtain reclaim forms

The relevant reclaim forms can be found on our website.

Where to send reclaim forms

Customers should please submit their reclaim forms, preferably by registered mail, directly to:

Clearstream Banking
Attn: OTL - Tax Services - US WHT RECLAIM
42 avenue J.F. Kennedy
L-1855 Luxembourg

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. Our QI Agreement with the IRS allows us to adjust for over-withholding, either by a set-off of a subsequent payment or by a reimbursement. As we make weekly deposits via the Electronic Federal Tax Payment System (EFTPS), there may not be, at a given time when a customer reimbursement is requested, sufficient funds in the tax account to make that reimbursement.