Form descriptions - Standard refund - Polish debt securities

Letter of Request to Clearstream for Reclaim of Polish Withholding Tax

The Letter of Request should be duly completed and signed by Clearstream’s client. It authorises Clearstream to process the reclaim with the Polish Tax Authorities on the client's behalf.

Additionally, it specifies the payment details and the beneficial owner information.

The document should be provided for each reclaim application.

Certificate of tax residence

The certificate of residence should be provided as an original by all entities claiming the benefit of the DTT signed between their country of residence and Poland. The CoTR must cover the date of the income payment.

Electronic CoTRs are accepted under following conditions:

• The beneficial owner’s country tax authorities only issue CORs in electronic form;
• Confirmation that such electronic CoTR was obtained from the electronic system dedicated in the beneficial owner country for issuing digital CORs, and it constitutes valid and binding ground for applying reduced DTT rates;
• The electronic CoTR is provided as an attachment in a non-editable form (PDF file).

A letter of request for registration of electronic CoTR

In addition to the CoTR, clients must provide a letter of request to register the CoTR, on company letterhead, duly signed and stamped and confirming:

• That the electronic CoTR was obtained from the electronic system dedicated in the beneficial owner’s country for issuing digital CoTRs and it constitutes valid and binding ground for applying reduced DTT rates.
• If the electronic COR must be used for the securities deposited with our custodian Bank Handlowy, with the CSD KDPW or for both.

Beneficial Owner declaration for Supranational organisations (statement B)

Self-certification identifying the beneficial owner and their status as a supranational organisation. 

This document must be notarised and apostilled and completed and signed by the Supranational organisation (BO) or its representative under the PoA.

RAS statement from beneficial owner (Statement C, D or F)

Specific statement which supports the respective status of the beneficial owner. For banks (Tax Forms to use – Statement C), exempted investment funds (Tax forms to use – Statement F) and exempted  pension fund (Tax forms to use - Statement D).

A Power of Attorney (PoA) - Omnibus Account

A Power of Attorney should be provided if a third party is completing the Declaration of Beneficial Ownership. A notarial confirmation is required, confirming that the person signing the PoA is authorised to act on behalf of the beneficial owner.

A Power of Attorney from beneficial owners to Bank Handlowy for EUR - denominated mortgage bonds (that is, Annex D - Tax forms to use)

A specific Power of Attorney from the Beneficial owner to Bank Handlowy is required for EUR-mortgage bonds (i.e. Annex D). The investor’s name on the PoA must be consistent with disclosed data of beneficial owner and the CoTR.

A full chain of credit advice

This document provides confirmation of the money transfers related to interest/dividend payments as well as the deduction of tax. It must be provided for each standard refund application by each intermediary between the final beneficial owner and Clearstream.

It is recommended to use the Proof of Final Distribution templates provided by Clearstream's depository to avoid translation delays and costs.