Hungary: SWIFT and Xact Web Portal messages to replace BO Uploads for relief at source

07.01.2022

Note: This announcement initially published on 20 December 2021 has been updated to clarify formatting requirements. The updates have been highlighted.

Clearstream Banking1 informs its customers that effective 

25 January 2022

customers are requested to submit their per-payment instruction, if applicable, via SWIFT (formatted MT565) or Xact Web Portal when requesting relief at source on dividends from Hungarian equities and no longer via the Clearstream BO Upload function.

  • For full formatting requirements of these instructions, customers should refer to the MT564 event notification, Tax instruction formats in the Customer Handbook, Announcement C21034 and the Xact via SWIFT User Guide. 

Impact on customers

As of 25 January 2022, Clearstream Banking will no longer accept per-payment instructions submitted via the BO Upload function and only accept per-payment instructions submitted via SWIFT (formatted MT565) or Xact Web Portal message.

Further information

For further information, customers may contact Clearstream Banking Client Services, Clearstream Banking Client Services or their Relationship Officer.

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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.