Italy: Annual renewal of certificate of residence – extension of deadline until 15 June 2020 for residents of certain countries impacted by lockdown


Clearstream Banking1 informs its customers that the Italian tax authorities have confirmed the possibility of extending until 15 June 2020 the validity of certificates of residence (CORs) that expired on 31 March 2020. This is further to tax flash T20002 of 23 March 2020.


The CORs used to obtain relief at source on Italian dividends normally expire on 31 March of the year following the year of issuance.

The world crisis due to COVID-19 has made it impossible for certain foreign residents to obtain renewal of their CORs from their local tax authorities or to send the originals to their custodians.

With circular letter no.8, the Italian tax authorities answered questions raised by the Italian Foreign Banks association (AIBE) and Intesa Sanpaolo, confirming that Article 103, second paragraph, of Law Decree 17 March 2020, n.18, is also applicable to countries where the emergency is similar to that experienced in Italy.

The extension is applicable whenever Clearstream Banking has verified that, due to the COVID-19 emergency in his country of residence for tax purposes, the foreign investor has had difficulties obtaining or has been unable to obtain a renewed certificate of residence.

Impact on customers

We are still analysing with our local partner the possibility of applying this extension of validity and the checks that must be put in place to offer this possibility. Discussions are being conducted by Intesa with the Associazione Italiana Banche Estere (AIBE) and we expect to obtain more details by the end of this week.

For the time being, none of the existing CORs registered in Clearstream Banking have been extended.

Please refer to announcement C20011 for alternative certification solutions during this contingency period.

We will continue to monitor the situation and will inform you as soon as further details are available.


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, registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.