RPSM12308020 - Scheme Administrator Pages: Information Requirements and Administration: Overseas requirements: Qualifying overseas pension schemes: Reporting of benefit crystallisation events

Reporting of benefit crystallisation events

In order to be considered to be a qualifying overseas pension scheme, the scheme manager of the overseas pension scheme must have undertaken to HMRC to comply with any information requirements imposed on him in relation to a benefit crystallisation event, and must comply with those requirements.

Information requirements on the scheme manager

The requirements are that the scheme manager must provide the details listed below to HMRC when a benefit crystallisation event has occurred for a member of the pension scheme who has at any time been a relevant migrant member of the pension scheme

• the name and address of the relevant migrant member for whom there has been a benefit crystallisation event in the tax year, and
• the date, amount and nature of the benefit crystallisation event.

These details must be provided by 31 January following the end of the tax year in which the benefit crystallisation event occurred. The time limit for the production of this information may be brought forward by HMRC, see RPSM12308030.

The scheme manager may provide this information to HMRC by electronic means.