Canada: SWIFT, CreationOnline and Xact Web Portal messages to replace BO Uploads for relief at source
Clearstream Banking1 would like to inform customers that effective
1 May 2019
customers are requested to submit their per-payment instruction, if applicable, via SWIFT (formatted MT565), CreationOnline or Xact Web Portal message, when requesting relief at source on dividends from Canadian equities and trust instruments and no longer via the Clearstream BO Upload function.
For full formatting requirements of these instructions, customers should refer to the event notification, the Customer Handbook and Announcement C18050.
Impact on customers
To allow customers sufficient time to adapt to the new instruction requirements, Clearstream Banking will accept relief at source requests submitted via the current BO Upload function until 31 July 2019. Customers are, however, strongly encouraged to already start submitting per-payment instructions as per the above new requirement.
As of 1 August 2019, Clearstream Banking will consequently no longer accept per-payment instructions submitted via the BO Upload function and only accept per-payment instructions submitted via SWIFT (formatted MT565), CreationOnline or Xact Web Portal message.
The procedure for quick refund request remains unchanged and customers may continue to submit such request via the BO Upload function, together with other required documentation as per today's process.
For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your 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 Frankfurt (CBF) customers using CreationOnline), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.