U.S.A.: Instructed quantity and denomination of a security
Clearstream Banking1 would like to remind customers that any quantity of security mentioned in a tax instruction that is sent to Clearstream Banking to cover an income payment from a U.S.-taxable security should remain in accordance with the denomination of such security.
Background
Depending on their status on the U.S. market, some Clearstream Banking customers may need to send tax instructions to Clearstream Banking in order to benefit from a tax service on the U.S market.
Such tax instruction must mandatorily include, amongst other information, the quantity of securities instructed. If the quantity mentioned in the instruction is not in line with the denomination of the relevant security, Clearstream Banking will not be able to apply such an instruction.
Impact on customers
Clearstream Banking customers who send tax instructions on U.S taxable events should ensure that any quantity mentioned is in line with the denomination of the relevant security.
Any tax instruction sent to Clearstream Banking that does not comply with the above-mentioned requirement will be rejected by Clearstream Banking.
Further information
For further information, 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 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.