Finland: Trace – validity of ISD-E form - reminder

13.11.2023

Clearstream Banking1 reminds clients holding own assets (acting as final beneficial owner) that the validity of the ISD-E form used for the purpose of obtaining relief at source or quick refunds on dividend distributions from Finnish equities is as follows:

  • Five years from the end of the calendar year in which it is signed and dated by the investor; or
  • until further notice, if the investor is a government or international organisation.

However, a new form must be provided immediately if there is a change in the beneficial owner's eligibility for a reduced tax rate or exemption according to the treaty benefit or Finnish domestic law, as applicable.

We further remind clients that it is, at all relevant times, solely the beneficial owner's responsibility to: 

  • ensure that the information given in the ISD-E form is up-to-date and correct;
  • pay attention to the certifications that are given in the ISD-E form, and contact the tax authority of their country of residence or the Finnish Tax Administration if the tax treaty definition or Finnish domestic law is unclear to the beneficiary;
  • monitor the expiration of such ISD-E form and either provide renewals of such form or, immediately on expiration of such form, to provide instructions to have the correct applicable Finnish withholding tax deducted.

Impact on clients

Clients acting as beneficial owners and receiving dividend payments from Finnish equities are reminded to comply with the above requirements should they wish to benefit from relief at source or quick refund procedure.

Further information

For further information, please contact the Clearstream Banking Tax Help Desk, Clearstream Banking Client Services or your Relationship Officer.

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1. This Announcement is published by Clearstream Banking AG (CBF), registered office at Mergenthalerallee 61, 65760 Eschborn, Germany, registered with the Commercial Register of the District Court in Frankfurt am Main, Germany, under number HRB 7500.