Sweden: Xact via SWIFT and Xact Web Portal messages to replace BO Upload for quick refund


Clearstream Banking1 informs customers that effective

24 October 2022

customers must submit their per-payment instruction, if applicable, via an MT565 Corporate action instruction message in Xact via SWIFT or a Corporate action instruction in Xact Web Portal, when requesting quick refund on dividends from Swedish equities; and no longer via the Clearstream BO Upload function.

The per payment instruction must be provided per each tax rate and country of tax residence requested, if applicable, and must include:

  • Your account number;
  • ISIN code;
  • Corporate ID;
  • Total holding;
  • Number of shares for which the reduced or exempt tax rate applies.
  • Legal status of the beneficial owner (international organisation, foreign government, UCITS fund or non-UCITS fund).

Additionally the following formatting information is required in the per-payment instruction for beneficial owners who are eligible for a full tax exemption (0%):

Xact via SWIFT

Xact Web Portal

Sequence C: Beneficial Owner’s details BENODET

Beneficial owner details

:95V: OWND Beneficial Owner

The beneficial owner’s details under the “Party”.

:94C: DOMI Country of Domicile

Country of domicile (for beneficial owner details)

:70E: CETI Legal status

The beneficial owner’s legal status under the “Narrative”.

For full formatting requirements of these instructions, customers should refer to the MT564 Corporate Action event notification, to the Xact via SWIFT User Guide, and Announcements C18050 and C21034

Impact on customers

Customers will no longer be able to submit their per-payment instructions via the BO Upload function.

Further information

For further information, customers may contact Clearstream Banking Client Services, their Relationship Officer, or Tax Help Desk.


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.