Form descriptions - Quick refund - French equities (held in CBF)

10.04.2018

Information is provided here about the forms and their use in relation to the procedure for relief at source of withholding tax on income from French equities, as follows:

  • One-Time Certificate for French securities;
  • Form 5000 Certificate of Residence;
  • Form 5000 Attestation of Percentage;
  • Form RPPM
  • Form 5001 Calculation and repayment of withholding tax on dividends;
  • Self-certification for qualified European Parent Companies
  • Not-for-Profit Organisation Certificate;
  • Form 131 sexies
  • Power of Attorney (if applicable);
  • Per-payment Detailed List of Beneficial Owners;
  • Proof of Residency;
  • Corporate action instruction.

Other documentation may be required for specific types of beneficial owner (as described in the Documentation requirements section of the Relief at source page).

One-Time Certificate of Authorisation for French securities

One-time certification that provides information regarding the customer of Clearstream Banking, stating that he holds French equities on behalf of one or more beneficial owners that are entitled to apply for relief at source.

This OTC covers all the eligibilities for tax relief, that is, treaty benefits or domestic law benefits and gives the possibility to apply for a standing instruction as follows:

  • if the customer holds the securities for itself or for a single beneficial owner (first box); or
  • if CBF customers segregate their holdings per tax rate in their subaccounts (second box) – see below “Segregation of holdings”; or
  • if CBL customers segregate their holdings per tax rate in a dedicated account (second box).
How many are provided?One per Clearstream Banking account or specified set of Clearstream Banking accounts.
Who completes it?Customer.
How often is it provided?Once. Valid until revoked.
When is it provided?At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.
Copy or original?Original required.

Form 5000 Certificate of Residence

The Form 5000 Certificate of Residence contains the beneficial owner's information and must be signed by both the beneficial owner (or its representative under cover of a Power of Attorney) and the beneficial owner's local tax authorities. The latest version published on the website of the FTA must be used.

As a general rule:

  • Box I: "Dividends" and "Simplified procedure" must be ticked.
  • Box II must contain the appropriate beneficial owner type to specify the "Occupation".
    This must match the "BO type" used in the uploaded per-payment Detailed List of Beneficial Owners.
    The legal form of the company (GmbH, SA, SPA, LLP etc.) should be entered in the “Surname and first name, or company name” field and must be in line with the beneficial owner type.
  • Box III and Box IV must be fully completed.
  • Box V must be left blank.

Notes for U.S. beneficial owners

For U.S.A. resident beneficial owners that are not individuals (physical persons):

  • It is mandatory to submit an original Form 6166 issued by the Internal Revenue Service (IRS). Form 6166 is valid for the year issued, as long as the beneficiary name, the tax ID number and the status of the beneficial owner have not changed during that tax year. If an original IRS Form 6166 was submitted with a reclaim within the same year, a copy of that submitted form will be accepted.
  • The legal status of the U.S. beneficiary and the Internal Revenue Code section to which it refers (for example, charitable foundations or charities 501(c)-3) must be clearly stated.
  • U.S. pension funds must include, in their IRS certification, mention of the relevant IRS section (401 (a), 401(b), 403 or 457) or that they are organised as a collective trust.
  • Because an original IRS Form 6166 is submitted together with the Form 5000, Box IV of Form 5000 does not have to be certified by the IRS.

For U.S.A. resident beneficial owners who are individuals (physical persons):

  • If an original IRS Form 6166 is submitted together with the Form 5000, Box IV of Form 5000 does not have to be certified by the IRS.
  • If no IRS Form 6166 is submitted with the Form 5000, Box IV or Box VI of Form 5000 must be filled, stamped, dated and signed.

N.B.:For customers that are residents of a Double Taxation Treaty (DTT) country to renew their certificate at the beginning of the year (YYYY), an extension of validity of the previous year's Form 5000 (YYYY-1) is granted until the 31 March YYYY on condition that the new Form 5000, correctly completed and signed in year YYYY, is received by Clearstream Banking before the 31 March YYYY.

Note for investment schemes:

If the beneficial owner is an investment scheme, Box VII of Form 5000 must contain details of the accounting period in which the profit was realised (that is, directly preceding the income payment period).

Who completes it?Both the beneficial owner or the customer representing the beneficial owner under Power of Attorney; and the local Tax Authorities of the beneficial owner. In both instances, the form must be signed, stamped and dated (in the case of dividends, before the first dividend payment date to which it applies).
How often is it provided?Annually.
When is it provided?At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.
Copy or original?Original French version required.

Form 5000 Attestation of Percentage

Form 5000 Attestation of Percentage, dated and signed by the beneficial owner (or by the customer representing the beneficial owner under cover of a Power of Attorney) in order to attest to the percentage of resident shareholders during the accounting period in which the income was realised.

As the collective entitlement of such funds and companies to treaty benefits is limited to the portion of their unit holders and shareholders who are residents of their home country, the percentage must be 100% in order to participate in the simplified procedure. If the percentage is lower, the company/fund can apply for the standard refund procedure.

An eligible beneficial owner that is a collective investment scheme must, in most cases (see Note: below), fill in Box VII of Form 5000 to certify the percentage of shareholders eligible under the claimed Double Taxation Treaty (DTT) during the relevant accounting period. As the accounting period may not correspond to a calendar year, customers might be required to provide Clearstream Banking with multiple Forms 5000. In this case, on condition that a Form 5000 signed by the local tax authorities is already in place for the calendar year, the newly submitted Form 5000 may be provided, signed and dated by the beneficial owner/representative only (that is, not by the local tax authorities).

As a general rule:

  • Box I: "Dividends" and "Simplified procedure" must be ticked.
  • Box II must contain the appropriate beneficial owner type to specify the "Occupation".
    This must match the "BO type" used in the uploaded per-payment Detailed List of Beneficial Owners.
    The legal form of the company (GmbH, SA, SPA, LLP etc.) should be entered in the “Surname and first name, or company name” field and must be in line with the beneficial owner type.
  • Box III must be completed.
  • Box IV must be left blank.
  • Box V must be left blank.
  • Box VII must contain the beginning and end dates of the current accounting period and the percentage of shareholders eligible under the respective Double Taxation Treaty (DTT) and for the relevant accounting period.

For a newly issued collective investment scheme whose first accounting period has not yet been closed, information must be supplied on Form 5000 as follows:

  • Box II must clearly mention “NEWLY ISSUED COLLECTIVE INVESTMENT SCHEME”; and
  • Box VII must contain the beginning and end dates of the first/current accounting period.

Note: For investment companies and funds from Spain, the U.S.A. and Trinidad and Tobago, treaty benefits apply, as indicated in the notes accompanying Form 5000, to all income received from French sources and, consequently, in these cases, Box VII of Form 5000 should not be filled in.

How many are provided?One (or more, if applicable) per beneficial owner.
Who completes it?The beneficial owner or the customer representing the beneficial owner under Power of Attorney. It must be signed, stamped and dated before the first dividend payment date to which it applies or per reclaim application.
How often is it provided?Once (or more, if applicable) per relevant applicable accounting period.
When is it provided?As soon as the accounting period in which the profit was realised is closed (that is, directly preceding the dividend payment period) but at the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.
Copy or original?Original required. Must be in French for the French Tax Authorities.

Form RPPM – Revenus et profits du patrimoine mobilier

The Form RPPM contains the CIV information and must be signed by the CIV or its managing company, per fund or sub-fund.

As a general rule,

  • Boxes I and II must be fully completed by the CIV or its managing company.
  • Box III must contain date, place, signature and stamp.
  • The table must be updated with the requested details according to the status of the CIV. When a category in column 3 is ticked the related details must be completed in column 4

Who completes it?

Beneficial owner (CIV or its managing company).

How often is it provided?

Once, valid until revoked.

When is it provided?

At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.

Copy or original?

Original required, in French.

Form 5001 Calculation and repayment of withholding tax on dividends

Form 5001 provides, for EU parent companies only, all the details necessary for the entitlement and calculation of the relief at source.

  • Box I should only be filled in and signed if the beneficial owner is entitled to benefit from the application of the Parent-Subsidiary regime. The EU Parent Company can chose the benefit of the DTT rate (first tick box), or a full exemption based on the Agreement between the European Community and the Swiss Confederation of 26 October 2004 (second tick box). For the benefit of the fully exemption on article 119 ter of the General Tax Code, the forms 5001 (third tick box) is no more valid and has been replaced by the Self-certification for qualified European Parent Companies (see below)
  • Box II must be completed by the beneficial owner or its representative.
  • Box III must be left blank for completion by the paying institution.
Who completes it?Beneficial owner or customer representing the beneficial owner under Power of Attorney.
How often is it provided?Per dividend payment.
When is it provided?At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.
Copy or original?Original required.

Self-certification for qualified European Parent Companies

The self-certification provides all the details necessary for the entitlement to the relief at source for EU parent companies claiming the benefit of the full exemption based on article 119 ter of the General Tax Code.

Who completes it?

Beneficial owner or customer representing the beneficial owner under Power of Attorney.

How often is it provided?

Per dividend payment.

When is it provided?

At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.

Copy or original?

Original (French version) required. The English version is for information only

Not-for-Profit Organisations Certificate

For a qualifying not-for-profit organisation to be able to request relief at source from withholding tax, it must provide a Not-for-Profit Organisations Certificate to Clearstream Banking.

To obtain this certificate, the customer is required to submit a Questionnaire to the French non-resident tax office - Direction des Impôts des Non Résidents (DINR)

The Questionnaire is presented as an appendix to Bulletin officiel des impôts N° 8 du Janvier 2010, available from the French government website under BOI 4-H-2-10 - Organismes à but non lucratif des états de l'UE.

Questionnaire:

Who completes it?

Beneficial owner.

How often is it provided?

Once.

When is it provided?

As a preliminary to applying for relief at source through Clearstream Banking to be sent to the DINR when requesting a Not-for-Profit Organisations Certificate.

Copy or original?

Original required by the DINR

Not-for-Profit Organisations Certificate:

Who completes it?

French non-resident tax office - Impôts des Non Résidents (DINR)

How often is it provided?

Valid from 1 January of its year of issuance until 31 December of the second year following its year of issuance, provided that the status of the organisation has not changed.

When is it provided?

At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.

Copy or original?

Original required.

One-time attestation Article131 sexies I and II

One-time certification to allow beneficiaries to obtain exemption, as follows:

  • Article 131 sexies I allows beneficiaries such as international organisations, sovereign states and central banks to be totally exempt;
  • Artilce 131 sexies II allows beneficiaries such as public institutions to be totally or partially exempt.

The form must be signed, stamped, dated (in the case of dividends, before the first dividend payment date to which it applies) and printed under the beneficial owner's letterhead.

How many are provided?

One per beneficial owner.

Who completes it?

The beneficial owner.

How often is it provided?

Once. Valid until revoked.

When is it provided?

At the latest, on record date minus one business day of the first dividend payment date to which it applies, by 09:00 CET.

Copy or original?

Original (French version) required.

Power of Attorney

If the customer or a third party is completing the Forms 5000, 5001 and RPPM on behalf of the beneficial owner, a Power of Attorney must be provided to Clearstream Banking.

Who completes it?Beneficial owner.
How often is it provided?Per application to obtain relief at source.
When is it provided?Together with the related documentation.
Copy or original?Original or certified copy required, in French or English.

Per-payment Detailed List of Beneficial Owners

Certification with details of the beneficial owners.

How many are provided?One per payment.
Who completes it?Customer.
How often is it provided?Per dividend payment.
When is it provided?At the latest, 45 calendar days following the dividend payment date, by 09:00 CET.
Copy or original?Clearstream Banking's online Upload BO List facility, using the provided template.

Corporate action instruction

Deadline: At the latest, by the 10th of the month, following the month of payment. If the 10th is not a business day, then, at the latest, the first business day before the 10th. Customers may adjust the initial tax breakdown before this date and the last tax breakdown provided before this deadline will be considered as final and reported to the FTA. 

Tax breakdown instruction that must be sent only by customers that have no standing instruction in place (OTC Box 3) either via Xact Web Portal, CreationOnline (CBL and CBF 6-series account customers only) or by a formatted SWIFT MT565 message. It must include the following details:

  • Account number of the customer;
  • ISIN code;
  • Payment date;
  • A breakdown of the position with the nominal amounts and respective tax rate to apply as follows:

For residents of a Double Taxation Treaty (DTT) country:

  • A breakdown of the position with the nominals and respective tax rate to apply (15%, 10% or 0% according to the DTT; 30% for non-eligible positions).

For EU parent companies:

  • Position breakdown, mentioning “Parent company regime” including the nominal amounts and respective tax rate to be applied (that is, 0% via the European procedure or DTT rate according to the applicable treaty rate);
  • Details of the beneficial owner:
    • Full name of the organisation;
    • Address for tax purposes, including street address, postal code and country;
    • Tax Identification Number (TIN), if any.

For not-for-profit organisations:

  • Position breakdown with the nominal amounts and respective tax rate to be applied (that is, 15%), plus the following in each per-payment instruction:
    • Full name of the organisation;
    • Address for tax purposes, including street address, postal code and country;
    • Tax Identification Number (TIN), if any;
    • Legal status of the beneficial owner (that is, Not for profit organisation - code 21).

For GBRs:

  • Position breakdown mentioning “German GBR” with the nominal amounts and respective tax rate to be applied (that is, 15%).

Note: Clearstream Banking customers must ensure that instructions are for settled positions only; no instructions on pending trades will be accepted.