2017 No. 11
The Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017
Made
Laid before the House of Commons
Coming into force
Citation, commencement and effect1
1
These Regulations may be cited as the Registered Pension Schemes (Provision of Information) (Amendment) Regulations 2017 and come into force on 6th February 2017.
2
The amendments in regulation 3 have effect in relation to—
a
payments of lump sum death benefits made by registered pension schemes to trustees on or after 6th April 2016, and
b
payments made by trustees to beneficiaries out of sums to which sub-paragraph (a) applies.
3
The amendments in regulations 4 and 5 have effect for the tax year 2016-17 and subsequent years.
Amendment of the Registered Pension Schemes (Provision of Information) Regulations 2006
2
The Registered Pension Schemes (Provision of Information) Regulations 20064 are amended as follows.
3
After regulation 10 insert—
Death: provision of information by scheme administrator to trustee10A
1
Where—
a
a registered pension scheme makes a payment of a sum on whose payment tax has been charged under section 206, and
b
the payment is made to a trustee who is not a bare trustee,
the scheme administrator shall provide to the trustee the information specified in paragraph (2).
2
The information required is—
a
the amount of the lump sum death benefit on which tax has been charged under section 206,
b
the amount of that tax charge,
c
the name and pension scheme tax reference number of the registered pension scheme making the payment, and
d
the name, date of birth and date of death of the member of the registered pension scheme in respect of whom the lump sum death benefit is paid.
3
The scheme administrator shall provide the information specified in paragraph (2) to the trustee before—
a
the end of 30 days beginning with the date of the payment to the trustee, or
b
if later, the end of 8th March 2017.
4
In paragraph (1) “bare trustee” has the meaning given by section 206(10)5.
Death: provision of information by trustee to beneficiary10B
1
Where—
a
a trustee who is not a bare trustee makes a payment out of a sum on whose payment tax has been charged under section 206, and
b
the payment is made out of a settlement to a beneficiary who is an individual,
the trustee shall provide to the beneficiary the information specified in paragraph (2).
2
The information required is—
a
the total of—
i
the sum paid to the beneficiary, and
ii
the amount of tax that has been charged in respect of that sum under section 206,
b
the amount of tax that has been charged under section 206 in respect of the sum paid to the beneficiary,
c
the name and pension scheme tax reference number of the registered pension scheme which paid the lump sum death benefit, and
d
the name, date of birth and date of death of the member of the registered pension scheme in respect of whom the lump sum death benefit was paid.
3
The trustee shall provide the information specified in paragraph (2) to the beneficiary before the latest of the following—
a
the end of 30 days beginning with the date of the payment to the beneficiary,
b
the end of 30 days beginning with the date of the receipt by the trustee of the information required to be provided by the scheme administrator under regulation 10A, and
c
the end of 8th March 2017.
4
In paragraph (1) “bare trustee” has the meaning given by section 206(10).
4
In regulation 14A(1A) (annual allowance: annual provision of information by scheme administrator to member for tax year 2015-16)6—
a
in paragraph (d) for “and (10)(d)” substitute “, (10)(d) and (10)(e)”,
b
insert “and” at the end of paragraph (d), and
c
omit paragraph (f) and the “and” at the end of paragraph (e).
5
(This note is not part of the Regulations)