SEC Information Update Regarding Support for US Funds Seeking Reclaims of European Tax
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March 10, 2017 TO: ICI MembersICI Global Members SUBJECTS: Tax RE: SEC Information Update Regarding Support for US Funds Seeking Reclaims of European Tax
The SEC has issued the attached information update explaining its ongoing support for US funds seeking to recover tax withheld from various European countries; US funds have been seeking these recoveries based upon the free movement of capital article (Article 63) of the Treaty on the Function of the European Union.[1] The update notes that the SEC already has provided support for over 100 funds.
The update describes (1) the information to be included in any draft letter submitted by a fund to the SEC to establish that the fund is registered with and regulated by the SEC and (2) the necessary supporting documentation. Importantly, a dedicated e-mail address IMEuropeanTaxClaims@sec.gov has been created to receive funds’ draft letters and supporting information packets.
Keith Lawson
Deputy General Counsel - Tax Law
endnotes
[1] See, e.g., ICI Memorandum No. 29002, dated May 21, 2015.