Form descriptions - Standard refund - Austrian equities

06.06.2014

Information is provided here about the forms and their use in relation to the procedure for standard refund of withholding tax on income from Austrian equities, as follows:

  • Form ZS-RE1 or ZS-RD1 (Claim for repayment of Austrian Withholding Tax);
  • Form ZS-RE1A or ZS-RD1A (Supplementary sheet A);
  • Power of Attorney;
  • Credit Advice;
  • Letter of Request to Clearstream Banking for Reclaim of French Withholding Tax;
  • Declaration of Widely Held Foreign Investment Funds;
  • Ersuchen um Ergänzung (Request for Additional Information).

Note: The ZS-R forms are available from the Austrian government website (enter RD1 or RE1 in the search field, as appropriate). In the names of the forms, "D" and "E" indicate German- and English-language versions respectively.

Additional documentation is required for various types of foreign investment funds and legal entities.

Form ZS-RE1 or ZS-RD1: Claim for Repayment of Austrian Withholding Tax

The claim for refund form must be submitted by using one of its two language versions:

  • English version: Form ZS-RE1; or
  • German version: Form ZS-RD1.

The form includes a certification of residents to be completed by the local tax authorities of the beneficial owner.

Note: For beneficial owners that are residents of the U.S.A., form ZS-RE1 or ZS-RD1 should not be certified by the local tax authorities. Instead, the beneficial owner must provide two sets of the required documentation (that is, two forms ZS-RE1 or ZS-RD1 together with the respective supplementary sheets), one of which will be sent to the U.S. tax authorities by the Austrian Tax Authorities.

In accordance with the requirement of the Austrian Tax Authorities, the IBAN number of the account to which the refund is to be paid must be included in the reclaim form ZS-RE1 / ZS-RD1 under section 4. Customers filing a reclaim through Clearstream Banking must ensure that Clearstream Banking's IBAN number AT50 2011 1403 3163 7800 is indicated in the form.

Who completes it?Beneficial owner and local tax authorities of beneficial owner.
How often is it provided?Per reclaim application.
When is it provided?At the latest, two months before the statutory deadline.
Copy or original?Original required.

Form ZS-RE1A or ZS-RD1A: Supplementary sheet A

The beneficial owner must enclose with the claim form a duly completed supplementary sheet A, using one of its two language versions:

  • English version: Form ZS-RE1A; or
  • German version: Form ZS-RD1A.

The Supplementary sheet A includes the details of the dividend payment(s).

Note: Beneficial owners that are residents of the U.S.A. must provide two sets of the required documentation (that is, two supplementary sheets A ZS-RE1A or ZS-RD1A together with the respective claim for refund forms), one of which will be sent to the U.S. tax authorities by the Austrian Tax Authorities.

Who completes it?Beneficial owner and local tax authorities of beneficial owner.
How often is it provided?Per reclaim application.
When is it provided?At the latest, two months before the statutory deadline.
Copy or original?Original required.

Power of Attorney

If the customer or a third party is completing the form on behalf of the beneficial owner, a Power of Attorney must be provided.

Who completes it?Beneficial owner.
How often is it provided?Per reclaim application.
When is it provided?At the latest, two months before the statutory or DTT deadline, whichever is applicable.
Copy or original?Original required.

Credit Advice

Identifies dividend payment details including the security type, gross amount of payment, date of payment and amount of tax withheld. The credit advice must reconcile with the information in the refund form. If the beneficial owner is the customer's client, the credit advice from the customer to the beneficial owner must be provided.

Who completes it?Financial institution paying the beneficial owner.
How often is it provided?Per reclaim application.
When is it provided?At the latest one month before the statutory deadline.
Copy or original?Copy is sufficient (that is, a copy of the corporate action confirmation, cash balance report or other statement).

Letter of Request for Reclaim to Clearstream Banking for Reclaim of Austrian Withholding Tax

This authorises Clearstream Banking to reclaim withholding tax from the Austrian Tax Authorities on the customer's behalf.

Who completes it?Customer.
How often is it provided?Per reclaim application.
When is it provided?At the latest, one month before the statutory or DTT deadline, whichever is applicable.
Copy or original?Original required.

Declaration of Widely Held Foreign Investment Funds

Foreign investment funds must complete and submit this declaration as an additional documentation requirement to reclaim tax withheld on Austrian securities.

Who completes it?Foreign investment funds, according to the constitution of the investor base.
How often is it provided?Per reclaim application and individual request by the Austrian Tax Authorities.
When is it provided?Together with the set of reclaim documentation.
Copy or original?Original required.

Ersuchen um Ergänzung (Request for Additional Information)

The Austrian Tax Authorities (ATA) may contact customers directly to complete this form if a reclaim application is submitted to them without it.

Note: The current understanding of the ATA is that the "wirtschaftliche Eigentümer" (beneficial owner) is the person who, on dividend entitlement date, held the shares booked (settled) in his account.

Who completes it?Beneficial owner or customer on behalf of beneficial owner.
How often is it provided?Per reclaim application and individual request by the Austrian Tax Authorities.
When is it provided?Together with the set of reclaim application.
Copy or original?Original required.