The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pensions Schemes and Corresponding Relief) Regulations 2006

[F1 Information — QROPS and former QROPS U.K.

3.— (1) For the purposes of section 169(4) (information to be provided by a QROPS or former QROPS), the scheme manager of a QROPS must provide to HMRC—

(a) the name and address of the scheme, the date of its establishment and the name of the country or territory in which it is established;

(b) confirmation whether or not the scheme is regulated in the country or territory in which it is established and, if so, the name and address of the regulator and the reference number, if any, allocated by that regulator;

(c) the name and address of the tax authority for the scheme in the country or territory in which it is established and the reference number, if any, allocated by that tax authority;

(d) confirmation of the basis on which the scheme satisfies the requirements imposed by regulations 2 and 3 of the Pension Schemes (Categories of Country and Requirements for Overseas Pension Schemes and Recognised Overseas Pension Schemes) Regulations 2006;

(e) if a scheme satisfies regulation 2(2) of those Regulations solely because it fulfils the requirement in regulation 2(2)(c)(ii), or if a scheme satisfies regulation 3(1)(b) of those Regulations solely because it fulfils the requirement in regulation 3(4), evidence demonstrating that it fulfils the requirement set out in paragraph (ii) or (4), as the case may be;

(f) the name, address, contact details and legal status of the scheme manager; and

(g) any information or evidence required in writing, at any time, by HMRC relating to any of the matters referred to in sub-paragraphs (a) to (f).

No information is required to be provided under sub-paragraph (c) if the scheme was established by an organisation to which section 1 of the International Organisations Act 1968 applies by virtue of an Order in Council under subsection (1) of that section.

(1A) The information required under paragraph (1)(a) to (f) must be provided—

(a) five years after the date of the HMRC letter advising the QROPS of the reference number that had been allocated to it, and

(b) at the end of every succeeding period of five years.

This paragraph is subject to paragraph (1B).

(1B) Where this paragraph applies to a QROPS, paragraph (1A) does not apply and the information required under paragraph (1)(a) to (f) must be provided on the dates notified to the QROPS by HMRC.

(1C) Paragraph (1B) applies to a QROPS if—

(a) the date of the HMRC letter advising the QROPS of the reference number that had been allocated to it was before [F2 6 April 2011], and

(b) less than fifteen years have passed since the date of that letter.

(1D) Where paragraph (1A) or (1B) applies, the required information may be provided at any time during the six months prior to the end of each five year period or the notified dates, as the case may be.]

[F3 (2) When a QROPS or former QROPS makes, or is treated under the relevant provisions as making, a payment in respect of a relevant member, the scheme manager of the QROPS or former QROPS must provide to HMRC—

(a) the name, principal residential address, date of birth, contact details, the national insurance number or, if they do not have one, the tax identification number, if any, of the relevant member and if the relevant member has ceased to be resident for tax purposes in the United Kingdom, the date that residence ceased;

(b) the name, address and contact details of the QROPS or former QROPS and of the scheme manager;

(c) the date, amount and nature of the payment and if as a result of the payment no relevant transfer fund remains [F4 and no ring-fenced transfer funds remain], a statement to that effect;

(d) if the payment is made to a pension scheme, the name and address of the recipient and if the recipient is a registered pension scheme or a QROPS, the reference number allocated to that pension scheme by HMRC;

[F5 (da) if the payment is made to a QROPS—

(i) whether the overseas transfer charge arises on the payment [F6 and, if so, whether under section 244AC or section 244IA],

(ii) if the charge does arise, the transferred value and the amount of charge the scheme manager deducted from the payment before making it,

(iii) if the charge does not arise, why it does not, F7 ...

[F8 (iiia) whether the payment is a transfer of the kind mentioned in section 244IA(1)(a) and, if so, the amount of the member’s overseas transfer allowance used up by the transfer, and]

(iv) the total amount or value of the member's relevant transfer fund, and ring-fenced transfer funds, remaining immediately after the payment;]

(e) where the relevant member has died and the payment is made to an individual, the name, principal residential address, date of birth and the national insurance number or, if they do not have one, the tax identification number, if any, of that individual; and

(f) where the relevant member has died and the payment is made to a person who is not an individual, the name and address of that person.

Here “the relevant provisions” means sections 172 to 174A, paragraph 2A of Schedule 28 and paragraph 3A of Schedule 29.

This paragraph is subject to the qualifications in paragraphs (3) and (4).]

[F9 (2A) Paragraphs (2B) and (2C) apply where—

(a) a recognised transfer is made to a QROPS, or

(b) an onward transfer is made by a QROPS or former QROPS.

(2B) Where an event occurring before the end of the relevant period for the transfer (see [F10 the definition of “the relevant period” in section 244AB(1)]) means that the transfer no longer counts as excluded from the overseas transfer charge or that entitlement to repayment under section 244M arises, the scheme manager of the QROPS or former QROPS must, within 90 days after the date the scheme manager is notified of the event, provide to HMRC notification of—

(a) the occurrence, nature and date of the event,

(b) the transferred value of the transfer,

(c) the amount of overseas transfer charge on the transfer,

(d) whether, and to what extent, the scheme manager has accounted, or intends to account, for the charge, and

(e) the total amount or value of the member's relevant transfer fund, and ring-fenced transfer funds, remaining immediately after the event.

This paragraph is subject to the qualification in paragraph (3A).

(2C) Where the scheme manager of the QROPS or former QROPS becomes aware that the member has at any time in the relevant period for the transfer acquired a new residential address that is neither—

(a) in the country or territory in which the QROPS or former QROPS is established, nor

(b) in an EEA state,

the scheme manager is to notify that address to HMRC within 3 months after the date on which the scheme manager becomes aware of it.]

(3) No obligation arises under paragraph (2) if [F11 the following conditions are met—

(a) at the date of the payment more than ten years has elapsed beginning[F12 —

(i) if the payment is in respect of one or more of the relevant member's ring-fenced transfer funds (whether or not it is also in respect of anything else), with the key date for that fund or (as the case may be) the later or latest of the key dates for those funds, and

(ii) if the payment is not to any extent in respect of the relevant member's ring-fenced transfer funds,]

with the date on which the relevant transfer fund in respect of the relevant member came into existence; and

(b) the relevant member to whom the payment is made or treated as made is a person to whom the member payment provisions do not apply (see paragraph 2 of Schedule 34).]

[F13 (3A) No obligation arises under paragraph (2B) in relation to a transfer if the following conditions are met—

(a) at the date of the transfer more than 10 years has elapsed since the key date for the ring-fenced transfer fund arising from the transfer (see paragraph 1 of Schedule 34); and

(b) the relevant member to whom the transfer is made is a person to whom the member payment provisions do not apply.]

(4) In the case of a payment by way of a pension the obligation under paragraph (2) applies only to the first such payment.

(5) The information required by paragraph (2) must be [F14 provided—

(a) within 90 days beginning with the day on which the payment is made or is treated as made; or

(b) by such other time as may be agreed between an officer of Revenue and Customs and the scheme manager.]

[F15 (5A) Where the scheme manager is a company it must provide the names and addresses of the directors of the company to an officer of Revenue and Customs if required to do so in writing, and within such time as may be specified, by the officer.]

(6) For the purposes of this regulation [F16 and regulation 3C] —

“payment” has the meaning given in section 161(2); and

“relevant member” means a member of a scheme in respect of whom there is a relevant transfer fund [F17 or any ring-fenced transfer fund] F18 ....

[F19 (7) For the purposes of this regulation [F20 , regulation 3B and regulation 3C] “relevant transfer fund” has the meaning given in paragraph 4(2) of Schedule 34.]

Textual Amendments

F1 Reg. 3(1)-(1D) and heading substituted for reg. 3(1) and heading (with effect in accordance with reg. 3 of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), regs. 1, 11 (as amended (17.12.2014) by 2014 c. 30, s. 1, Sch. 1 para. 97(2)

F2 Words in reg. 3(1C)(a) substituted (17.12.2014) by Taxation of Pensions Act 2014 (c. 30), Sch. 1 para. 97(3)

F3 Reg. 3(2) substituted (with effect in accordance with reg. 4 of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), regs. 1, 12

F4 Words in reg. 3(2)(c) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(3)(a) (with Sch. 4 para. 22(15))

F5 Reg. 3(2)(da) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(3)(b) (with Sch. 4 para. 22(15))

F6 Words in reg. 3(2)(da)(i) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 8(4)(a)

F7 Word in reg. 3(2)(da)(iii) omitted (with effect in accordance with reg. 1(3) of the amending S.I.) by virtue of The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 8(4)(b)

F8 Reg. 3(2)(da)(iiia) inserted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 8(4)(c)

F9 Reg. 3(2A)-(2C) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(4) (with Sch. 4 para. 22(15))

F10 Words in reg. 3(2B) substituted (with effect in accordance with reg. 1(3) of the amending S.I.) by The Pensions (Abolition of Lifetime Allowance Charge etc) Regulations 2024 (S.I. 2024/356), reg. 8(4)(d)

F11 Words in reg. 3(3) substituted (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 8(4)

F12 Words in reg. 3(3)(a) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(5) (with Sch. 4 para. 22(15))

F13 Reg. 3(3A) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(6) (with Sch. 4 para. 22(15))

F14 Words in reg. 3(5) substituted (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 8(5)

F15 Reg. 3(5A) inserted (6.4.2012) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 8(6)

F16 Words in reg. 3(6) inserted (14.10.2013) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), regs. 1, 13

F17 Words in reg. 3(6) inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(7) (with Sch. 4 para. 22(15))

F18 Words in reg. 3(6) omitted (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by virtue of The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 8(7)

F19 Reg. 3(7) inserted (with effect in accordance with reg. 1(2)(a) of the amending S.I.) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 8(8)

F20 Words in reg. 3(7) substituted (14.10.2013) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2013 (S.I. 2013/2259), regs. 1, 14

Commencement Information

I1 Reg. 3 in force at 6.4.2006, see reg. 1(1)