The Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) (Amendment) Regulations 2019

• Citation: S.I. 2019/773
• Sections: 6

Section 1 Citation and commencement

These Regulations may be cited as the Pension Schemes (Information Requirements — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) (Amendment) Regulations 2019 and come into force on 25th April 2019.

Section 2 Amendments to the Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006

The Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006 are amended as follows.

Section 3 Amendments to the Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006

(1) Regulation 3AE (information provided by member to QROPS: onward transfers) is amended as follows.

(2) For sub-paragraph (4)(c) substitute—

(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,

Section 4 Amendments to the Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006

(1) Regulation 3AH (accounting for overseas transfer charge on onward transfers) is amended as follows.

(2) In the heading, after “transfers” insert “and change in circumstances.”.

(3) In paragraph (1), for sub-paragraph (a) substitute—

(a)

(i) overseas transfer charge arises on an onward transfer from a QROPS, or

(ii) overseas transfer charge arises due to a change of circumstances set out in section 244B(2) or 244C(3) ,

Section 5 Amendments to the Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006

Regulation 3AI (assessments of unpaid overseas transfer charge on onward transfers) is amended as follows—

(a) omit “on onward transfers” in the title, and

(b) omit “on an onward transfer” in paragraph (1).

Section 6 Amendments to the Pension Schemes (Information Requirement — Qualifying Overseas Pension Schemes, Qualifying Recognised Overseas Pension Schemes and Corresponding Relief) Regulations 2006

(1) Regulation 3AL (claims for repayments of charge on subsequent excluding events) is amended as follows.

(2) Sub-paragraph (2)(c) is amended as follows—

(a) in paragraph (iv) omit “and”,

(b) in paragraph (v) omit “.” and insert “,”,

(c) after paragraph (v) insert—

(vi) 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,

(vii) the amount of the transfer, and

(viii) the date during the relevant period for the transfer on which the event giving rise to the exclusion occurred.