South Korea: Depositary Receipts - New documentation required for pension funds and non-profit organisations
Clearstream Banking1 informs customers that Form 72-2, provided by pension funds and non-profit organisations for relief at source on dividends from South Korean Depositary Receipts (DRs), will no longer be accepted.
Impact on customers
Form 72-2 is no longer accepted for pension funds and non-profit organisations.
For final beneficial owners that have already submitted a Form 72-2, the form remains valid until its expiry date of three years after its issuance date, if there is no change in circumstances.
After that date, only a certificate of residence or any other original documents supporting and substantiating the status of the pension fund or non-profit organisation will be allowed.
Pension funds and non-profit organisations that are currently not covered by a Form 72-2 must provide a certificate of residence or any other original documents supporting and substantiating their status instead of a Form 72-2.
For further information, customers may contact the Clearstream Banking Tax Help Desk or Clearstream Banking Client Services or their Relationship Officer.
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.