Forms descriptions - Standard refund - Icelandic equities
The following is a list of information regarding the various tax forms to be completed in order to benefit from a standard refund of withholding tax on dividend from Icelandic equities. The templates of the forms are available on our Tax Forms to use section.
Letter of Request to Clearstream banking for Reclaim of Icelandic Withholding Tax
The Letter of Request should be provided by all customers wishing to introduce a Standard Reclaim.
It authorises Clearstream to process the reclaim with the Icelandic Tax Authorities on the customer’s behalf. Additionally, it specifies the payment details and beneficial owner information.
How many are provided? | One per beneficial owner. |
Who completes it? | Clearstream's customer. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Request to the Icelandic Tax authorities for a refund
The request should be provided by beneficial owners for which there is no official reclaim form (no DTT). It must be dated and signed by the beneficial owner or its legal representative under power of attorney and detail the reclaim request.
How many are provided? | One per beneficial owner. |
Who completes it? | Beneficial owner. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Form RSK 5.42
Form RSK 5.42 must be dated and signed by the beneficial owner or its legal representative under power of attorney. It must also be dated, signed and stamped, by the local tax authority of the beneficial owner.
Only the document entitled “for the Icelandic Tax Authorities” is to be sent to us.
Guidance on how to complete the Form RSK 5.42, can be found in our publication “Completing tax forms in the Icelandic market” which is available in the Tax forms to use section.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner and the beneficial owner’s local tax authorities. |
How often is it provided? | Once every five years. If the refund is granted, the Form RSK 5.42 is valid for five years as of approval month; meaning no additional Form RSK 5.42 will be required to be included with further reclaim applications, during that period. For example: Application approved on 15.10.2020 is valid for the period of 1.10.2020 - 31.10.2025. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Form 5.43
Form RSK 5.43 must be dated and signed by the beneficial owner or its legal representative under power of attorney.
Only the document entitled “for the Icelandic Tax Authorities” is to be sent to us.
Guidance on how to complete the Form RSK 5.43, can be found in our publication “Completing tax forms in the Icelandic market” which is in the Tax forms to use section.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Certificate of incorporation
The certificate of incorporation or other document proving the status of the beneficial owner, must be enclosed with the reclaim application, by entities not claiming DTT (tax exempt entities and non-DTT legal entities), to prove the status of the foreign entity.
How many are provided? | One per beneficial owner. |
Who completes it? | Beneficial owner. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original or certified copy. |
Credit Advice
The Credit Advice should be provided by all customers wishing to introduce a Standard reclaim. The full chain of credit advices from the final beneficiary to Clearstream banking must be provided.
It Identifies income payment details including the security type, gross amount of payment, date of payment and amount of tax withheld.
It must be under the letterhead of the customer or of the customer’s agent and include the respective Clearstream Banking account number.
How many are provided? | One per each intermediary financial institution from the beneficial owner to Clearstream Banking. |
Who completes it? | Each intermediary financial institution. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Power of Attorney
A Power of Attorney should be provided if the reclaim forms are completed by a third party on behalf of the beneficial owner.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |