Netherlands: Relief at source and quick refund on dividend distribution of Fiat Chrysler Auto N.V. shares

22.05.2019

Clearstream Banking AG1 informs customers that on

30 May 2019

a dividend distribution at a price of EUR 1.30 per share (USD per share price is based on 16 May 2019 exchange rate) will be paid to all shareholders of Fiat Chrysler Auto N.V. (FCA) shares (ISIN NL0010877643) as at record date 21 May 2019.

This dividend distribution is subject to 15% Dutch withholding tax by default in CBF.

Customers may apply for relief at source or a quick refund for their underlying beneficial owners according to the procedure described in the DTCC notice. For full details regarding these requirements, please refer to the original DTCC notice available from DTCC website (CUSIP / Security name can be used to retrieve the notice).

Customers are strongly encouraged to obtain this notice to ensure they are aware and comply with the full requirements for this event.

Impact on customers

Customers wishing to obtain a relief at source or quick refund must instruct CBF as follows:

  • Send a per-payment breakdown for each tax rate required via SWIFT or Xact Web Portal message (please refer to Announcement D18075 for full instruction formatting requirements) including the following:
    • Customer account number;
    • ISIN code;
    • Corporate action ID;
    • Payment date;
    • A breakdown of the position with the quantity (please refer to the eligible balance on your account) and respective tax rate to apply.
  • Customers are required to specify in the field :92a:: for SWIFT or in the requested withholding tax rate for Xact Web Portal the applicable tax rate requested;
  • A breakdown of beneficial owner disclosure to tax.customers@clearstream.com by filling in subject line: Account number, ISIN, corporate action id, record date, your SWIFT/ Xact Web Portal reference. The template is available by sending via email a request to: cadatabase.cs"clearstream.com quoting exactly in the subject line: TAX ELECTION NETHERLANDS N31738102 EXTRA DIVIDEND.
  • Additional documentation
    Any additional documentation may be requested from the customer or the final beneficial owners. Upon request such documentation must be provided to the following address:
    Clearstream Banking S.A.
    Attention: OTL Luxembourg
    42, Avenue J.F. Kennedy
    L-1855 Luxembourg

Important note: Customers are reminded that it is the customer's responsibility to ensure that final beneficial owners are eligible for the tax rates applied, including CBF default rates. Neither CBF nor its local depository has any direct or indirect liability towards the Dutch authorities in this regard.

Deadline

In order to benefit from a relief at source or quick refund, customers must ensure that CBF receives the above-described documents by the deadlines stated below:

Relief at source

  • No later than 23 May 2019 at 10:00 CET

Quick refund

  • First batch: No later than 3 June 2019 at 10:00 CET
  • Final batch: No later than 4 July 2019 at 10:00 CET

Default action

If no certification is received by CBF before the stated deadline, 15% withholding tax will be applied by default on the dividend payment.

CBF will take no responsibility in respect of any losses, claims, penalties, taxes and interest thereon due to no action being taken by the customer regarding the above matter or receipt of documents after the indicated deadline.

If CBF is informed after the tax instruction or certification deadline indicated above that a beneficial owner has obtained relief at source to which the beneficial owner is not entitled (as example due to incorrect entitlement, data, certification etc), CBF will not assist in withholding the tax or paying it back to the respective tax authorities.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.