If you hold foreign investment products, you may receive dividend and/or coupon payments on which withholding tax is charged in the country of origin. If the Netherlands has concluded a tax treaty with that country, you may be entitled to a reduced treaty rate. If more withholding tax has been deducted than the treaty rate allows, you may be able to reclaim the difference (Tax Reclaim) or apply the reduced rate directly at the time of payment (Relief at Source).
"}},{"componentType":"sectionTitle","title":"What does our Tax Reclaim service entail?"},{"componentType":"paragraph","richBody":{"value":"To minimise the tax burden within Customised Portfolio Management, ING offers a Tax Reclaim service. Under this service, we make a best-efforts commitment to reclaim excess European withholding tax on your behalf, provided the amount per claim exceeds €125. As of 1 July 2024, this service is offered free of charge. Due to the relatively high administrative costs, amounts below €125 cannot be reclaimed.
To use the Tax Reclaim service, you are required to sign a Power of Attorney form for each investment account. This authorises ING and Global Equities to submit reclaims on your behalf. The Power of Attorney remains valid until it is revoked or your personal details change, for example in the event of a name change, relocation or a change in tax identification number.
Please note: We cannot guarantee the outcome of the Tax Reclaim. A successful reclaim also depends on the foreign tax authorities. Please also be aware that it can take up to two years before any excess withholding tax is refunded.
"}},{"componentType":"sectionTitle","title":"Relief at Source for United States equities and bonds"},{"componentType":"paragraph","richBody":{"value":"If you have a Customised Portfolio Management account and receive dividend and/or coupon payments from the United States, we can apply the Relief at Source method. This means that withholding tax is applied directly at the reduced treaty rate at the moment the dividend or coupon is paid. This service is also free of charge.
For private individuals, Relief at Source is applied automatically, provided the required documentation is available, such as a valid form of identification and signed Common Reporting Standard (CRS) and/or Foreign Account Tax Compliance Act (FATCA) forms. If this information is not available, a signed W-8BEN form is required. For organisations, a W-8BEN-E or W-8IMY form is always required to apply the Relief at Source method. The specific form required depends, among other things, on the structure of your organisation.
Please note: W-8 forms expire at the end of the fourth year after signing. You will receive a notification in advance to submit a new form.
"}},{"componentType":"sectionTitle","title":"What about Portfolio Management?"},{"componentType":"paragraph","richBody":{"value":"Within Portfolio Management, ING already makes optimal use of tax opportunities to reduce the tax burden for Dutch residents. This is done through the FBI structure, whereby taxes on foreign dividends within the portfolio are automatically reclaimed. No action is required from your side.
Please note: as of this year, entities may use a qualification decision for Dutch withholding tax. However, ING does not currently facilitate this option. As a result, entities that have obtained such a qualification decision must reclaim the withholding tax on the ING Select Fund themselves.
"}},{"componentType":"paragraph","richBody":{"value":"You can find more information about reclaiming withholding tax on our website. Here, you will also find the Power of Attorney and W‑8 forms. Please visit: Reclaim withholding tax - ING (Dutch only).
Or contact your adviser for more information.
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