U.S.A.: Reclaim procedure for U.S. taxable income payments in currencies other than USD

20.10.2017

Clearstream Banking1 informs customers that tax reclaims2 on U.S. taxable income paid as of 19 October 2017 will 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.

Clearstream Banking will not proactively inform customers via individual SWIFT messages concerning this process. As a result, reclaim requests received by Clearstream Banking after the five business day deadline will be processed in USD.

Details of the foreign exchange rate, if applicable, will be available in CreationOnline.

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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. 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 account.