South Korea: Depositary Receipts - New documentation required for pension funds and non-profit organisations

Effective

immediately

Clearstream Banking¹ informs customers that Form 72-2, provided by pension funds and non-profit organisations for relief at source on dividends from South Korean Depositary Receipts (DRs), will no longer be accepted.

Impact on customers

Form 72-2 is no longer accepted for pension funds and non-profit organisations.

For final beneficial owners that have already submitted a Form 72-2, the form remains valid until its expiry date of three years after its issuance date, if there is no change in circumstances.

After that date, only a certificate of residence or any other original documents supporting and substantiating the status of the pension fund or non-profit organisation will be allowed.

Pension funds and non-profit organisations that are currently not covered by a Form 72-2 must provide a certificate of residence or any other original documents supporting and substantiating their status instead of a Form 72-2.

Further information

For further information, customers may contact the Clearstream Banking Tax Help Desk or 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.