Don’t Delay: Filing Deadlines Fast Approaching

It’s that time of year again…

Investors holding cross-border securities, take heed: statutes of limitations (SOL) in many markets will expire at year-end, so time is running out to submit claims to recover over-withheld tax. As the document and data gathering process can take several months, we recommend reviewing your portfolio holdings now to see if any unclaimed entitlements are approaching their SOL.

If you don’t take urgent action, rightful entitlements will be forever forfeited to the foreign tax authority. 

The chart below summarizes the statutes of limitations in select markets for individual investors resident in the United States. Please note that the SOL in “End of Year” markets extends to the end of the year in which the payment was made (i.e. December 31, 2018). By contrast, the SOL in “Pay Date” markets only extends to the dividend pay date of the local share (e.g. if the dividend was paid November 15, the SOL would terminate on that day).

Country Impacted Events

(Year of local dividend pay date)

Statute of Limitations* End of Year (EOY) or Pay Date (PD) Market?
Austria 2013 5 years  EOY
Belgium 2014 4 years  EOY
Canada** 2012 6 years EOY
Denmark 2015 3 years PD
Finland 2013 5 years  EOY
France 2016 2 years EOY
Germany  2014 4 years EOY
Ireland  2014 4 years EOY 
Japan 2013 5 years PD
Netherlands 2013 5 years  EOY
Norway 2013 5 years  EOY
Portugal 2016 2 years  EOY
South Korea 2013 5 years PD 
Spain 2014 4 years PD
Sweden 2013 5 years EOY
Switzerland 2015 3 years  EOY
Taiwan 2013  5 years PD

* To allow for processing time, local market agents may have deadlines earlier than those listed above.

** The SOL in Canada is 2 years EOY, but may be extended to 6 years EOY.

Disclaimer: The above is not legal advice. Investors are urged to consult their own counsel and accountants to determine which statutes of limitations and reclaim opportunities are applicable.