Finland: TRACE – Clearstream Banking reconciliation file available to AI customers
Further to Announcement A20183 concerning the new TRACE - Relief at source and quick refund process for publicly listed Finnish equities, Clearstream Banking1 informs customers that effective
31 January 2022
customers with Authorised Intermediary (AI) status, will be able to obtain, from Clearstream Banking, a reconciliation file, to be used for the purpose of validating that the reportable figures of Clearstream Banking, are correct and in line with the reporting that the AI customer will include in its own annual reporting to the Finnish Tax Authorities (FTA).
Such reconciliation file may be requested by the customer by sending an email to: email@example.com, specifying in the subject line “TRACE reporting – reconciliation file request for fiscal year XXXX” and including in the email the Clearstream Banking account numbers impacted.
To comply with Finnish disclosure and reporting requirements, Clearstream Banking, as an AI, is required to provide the following details about certified intermediary banks/beneficial owners holding publicly listed Finnish equities, in its annual TRACE reporting to the FTA:
Certified status of customer
Name, TIN, address, legal status and dividend income details of the Clearstream Banking customer (beneficial owner).
Name, Finnish and local TIN, address, legal status and dividend income details of the Clearstream Banking customer.
Such reporting is required to be submitted to the FTA by the AI, on an annual basis and no later than 31 January of the year following the year of payment with a possible extension for the first reporting due in 2022.
Impact on customers
Customers having AI status, will, effective 31 January 2022, have the option to request a reconciliation file from Clearstream Banking, for the purpose of assisting them with the reconciliation of the annual TRACE reporting.
For further information, customers may contact the Clearstream Banking Tax Help Desk, 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.