Germany: Reminder - replacement of Fund Status Certificates with validity date 31 December 2020
Note: This announcement originally published on 8 September 2020, has been updated to provide further information on Fund Status Certificates. Changes have been highlighted.
Clearstream Banking1 would like to remind customers that first issued Fund Status Certificates will lose their validity end of 2020.
Already issued Fund Status Certificates with validity date 31 December 2020 will not be extended by the German Tax Authorities. Owner of a Fund Status Certificate must request a new Fund Status Certificate.
The issued Fund Status Certificate is valid for a maximum of three years. To ensure a timely issuance of the Fund Status Certificate, Clearstream Banking recommends filing follow-up applications in good time prior to the expiry of the validity of the previous certificate.
The issuance of a Fund Status Certificate by Federal Central Tax Office (Bundeszentralamt für Steuern; BZSt) requires the completion of an official application form. The Fund Status Certificate can be applied retroactively for a maximum of six months prior to the application. It is valid for three years.
Note: If the Fund Status Certificate is not available to Clearstream Banking AG (CBF) (that is, the party obliged to pay the tax at the time the investment income is received), the capital gains tax must be withheld and paid in full by CBF. If a customer cannot provide a valid Fund Status Certificate for all positions on the account by the time of income payment with a reduced tax rate of 15%, then the position must be transferred before income payment to another omnibus account without standing instruction and the usual InvStG tax breakdown process must take place.
FAQs regarding the application of Funds Status Certificates are published on the BZSt website.
Contacts at the BZSt:
Telephone: 0049 228/406-3550
For further information, customers may contact Clearstream Banking Client Services, their Relationship Officer or Tax Help Desk.
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.