Reference
In February 2016, we sent to those of our customers with reportable payments under U.S. withholding tax rules for the year 2015 a draft of the U.S. Internal Revenue Service (IRS) Form 1042-S (“Foreign Persons U.S. Source Income Subject to Withholding”) recording their Clearstream Banking1 activities.
During the first week of March you should have received the final version of the IRS Form 1042-S. It will however, not include the reclassification of income from Real-Estate Investment Trusts (REITs) and Regulated Investment Companies (RICs) instruments as these have not yet been communicated to us.
An amended version of the final IRS Form 1042-S including the reclassification of income from REITs and RICs instruments will be sent out by no later than 15 April 2016 to the customers who hold such instruments. A list of instruments and related reclassified income will be communicated simultaneously.
We remind customers that spillover dividends distributed by RICs and REITs are reported in the following year when the dividends are actually paid and effectively subjected to U.S. non-resident withholding tax. Detailed information regarding the tax treatment, reclassification and reporting of REIT and RIC instruments can be found on our website under Products and Services / Market Coverage / Americas / U.S.A. / Tax Treatment of U.S. REITs and RICs.
Further information
For further information about procedures, customers may contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or their Relationship Officer.
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1. Clearstream Banking refers collectively to Clearstream Banking AG, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500, and 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.