Forms descriptions - standard refund - Hungarian equities
This paragraph provides information regarding the various tax forms to be completed in order to benefit from standard refund of withholding tax on dividends from Hungarian equities. The templates of the forms are available on our Tax Forms to use section.
Letter of Request to Clearstream Banking for Reclaim of Hungarian Withholding Tax
The Letter of Request should be provided by all customers wishing to introduce a Standard Reclaim.
The document authorises Clearstream to process the reclaim with the Hungarian Tax Authorities on the customer’s behalf. Additionally, it specifies the payment details and the beneficial owner information.
The document should be provided for each reclaim application.
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. |
Credit Advice
An original Credit Advice should be provided by all customers wishing to introduce a Standard reclaim.
It identifies income payment details including the security type, gross amount of payment, date of payment and amount of tax withheld.
Who completes it? | Last intermediary in the chain having the final beneficial owner’s account in its books. |
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 by all customers wishing to introduce a Standard reclaim. It should be duly completed and signed by the final beneficial owner.
The document authorises the legal counsel of Clearstream Banking’s local depository, the attorney in law, to introduce reclaims.
The document should be provided once and remains valid until revoked.
Who completes it? | The beneficial owner. |
How often is it provided? | Once before the first applicable standard refund application. |
When is it provided? | Once before the first applicable standard refund deadline. |
Copy or original? | Original required. |
Certificate of residence
An original Certificate of Residence should be provided by all customers wishing to introduce a Standard Reclaim. It should be issued in English by the beneficial owner’s local tax authorities in the year for which it is to be used.
The document should be provided for each standard refund application.
How many are provided? | One per beneficial owner. |
Who completes it? | The beneficial owner’s local tax authorities. |
How often is it provided? | One per reclaim application. |
When is it provided? | Before the applicable standard refund deadline. |
Copy or original? | Original required. |
Declaration of beneficial ownership (DBO)
A Declaration of beneficial ownership should be completed and signed by individuals resident in a DTT country, if it is requested by the applicable DTT.
The document must be provided for each standard refund application.
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 |