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

[F1 [F2 Information provided by member to QROPS: onward transfers U.K.

3AE— (1) Paragraph (4) applies where a member of a QROPS or former QROPS makes a request to the scheme manager to make an onward transfer to a QROPS.

(2) But paragraph (4) does not apply if—

(a) the transfer will be excluded from the overseas transfer charge by section 244G, or

(b) the transfer will take place after the end of the relevant period (see [F3 the definition of “the relevant period” in section 244AB(1)]) for what would be the original transfer in relation to the requested onward transfer.

(3) In this regulation “original transfer”, in relation to an onward transfer, has the meaning given by [F4 section 244AB(1)] .

(4) The member must provide to the scheme manager—

(a) the member's name, date of birth and principal residential address,

(b) if the member is not UK resident for income tax purposes, the date when the member last ceased to be UK resident for those purposes,

[F5 (c) unless the member is–—

(i) aged under 16, or

(ii) a citizen of a country outside the United Kingdom who is not resident in the United Kingdom,

the member’s National Insurance number, or a statement that they do not have one,]

(d) the name and address of the QROPS to which the transfer is to be made,

(e) the country or territory under the law of which that QROPS is established and regulated,

(f) the reference number, if any, given by the Commissioners for that QROPS,

(g) whether the member knows for certain that the transfer would be excluded from the overseas transfer charge by one of sections 244D, 244E and 244F, and if the member does know that for certain—

(i) the section concerned (if known),

(ii) the name and address of the member's employer whose connection with the QROPS gives rise to exclusion of the transfer from the charge,

(iii) the member's job title as an employee of that employer,

(iv) the date the member's employment with that employer began, and

(v) if known, that employer's tax reference for that employment, F6 ...

[F7 (ga) the amount of the member’s overseas transfer allowance that is available at the time the information specified in this paragraph is provided, and]

(h) the member's acknowledgement in writing that the member—

(i) is aware that an onward transfer to a qualifying recognised overseas pension scheme may give rise to a liability to overseas transfer charge, and

(ii) is aware of the circumstances in which liability arises, in which liability is excluded from the outset and in which liability is excluded only if conditions continue to be met over a period of time.

(5) The information specified in paragraph (4) must be provided within 60 days beginning with the day the transfer request is made.

(6) The scheme manager must send the member notification of the requirements specified in this regulation within 30 days beginning with that day.]]

Textual Amendments

F1 Regs. 3A-3C inserted (6.4.2012) by The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations 2012 (S.I. 2012/884), regs. 1(1), 9

F2 Regs. 3AE-3AL inserted (with effect in accordance with Sch. 4 para. 25 of the amending Act) by Finance Act 2017 (c. 10), Sch. 4 para. 22(11) (with Sch. 4 para. 22(15))

F3 Words in reg. 3AE(2)(b) 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(7)(a)

F4 Words in reg. 3AE(3) 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(7)(b)

F5 Reg. 3AE(4)(c) substituted (25.4.2019) by The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) (Amendment) Regulations 2019 (S.I. 2019/773), regs. 1, 3(2)

F6 Word in reg. 3AE(4)(g) 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(7)(c)

F7 Reg. 3AE(4)(ga) 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(7)(d)