LegalizeThe Registered Pension Schemes (Provision of Information) Regulations 2006
Made: 9th March 2006
Laid before the House of Commons: 10th March 2006
Coming into force: 6th April 2006
The Commissioners for Her Majesty’s Revenue and Customs make the following Regulations in exercise of the powers conferred by sections 220(5), 221(6), 224(9), 251(1)(a) and (b), (4)(a) and (b), (5) and (6) and 256 of, and paragraphs 7(1)(b), 12(1) and 18(6) of Schedule 36 to, the Finance Act 2004[^f00001], and now vested in them[^f00002].
Citation, commencement and effect
1
These Regulations may be cited as the Registered Pension Schemes (Provision of Information) Regulations 2006, shall come into force on 6th April 2006, and have effect in relation to any reportable event which takes place on or after 6th April 2006.
Interpretation
2
- (1) In these Regulations—
- “the Act” means the Finance Act 2004 and a reference, without more, to a numbered section or Schedule is a reference to the section of, or Schedule to the Act bearing that number;
- “associated company” has the meaning given by section 449 of the Corporation Tax Act 2010;
- “the Commissioners” means the Commissioners for Her Majesty’s Revenue and Customs;
- “director” has the meaning given by section 67 of ITEPA 2003;
- “event report” means the report required by regulation 3(1);
- “fixed protection” means transitional protection provided for under paragraph 14 of Schedule 18 to the Finance Act 2011;
- “fixed protection 2016” means protection under paragraph 1(2) of Schedule 4 to FA 2016;
- “fixed protection 2014” means transitional protection provided for under Part 1 of Schedule 22 to the Finance Act 2013.
- “individual protection 2014” means transitional protection provided for under Part 1 of Schedule 6 to the Finance Act 2014;
- “individual protection 2016” means protection under paragraph 9(2) of Schedule 4 to FA 2016;
- “relevant benefit crystallisation event”—in relation to a member’s lump sum allowance, has the same meaning as in section 637Q of ITEPA 2003 (availability of individual’s lump sum allowance) in relation to the member;in relation to a member’s lump sum and death benefit allowance, has the same meaning as in section 637S of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance) in relation to the member;
- “relevant lump sum death benefit” has the meaning given by section 637S(2)(c) of ITEPA 2003 (availability of individual’s lump sum and death benefit allowance) ;
- “relevant reference number”, in relation to a member, means a reference number given by or on behalf of the Commissioners in respect of the member under—the Registered Pension Schemes (Enhanced Allowances) Regulations 2006 (S.I. 2006/131) (where the member relies on any provision of Schedule 36 to FA 2004);the Registered Pension Schemes (Enhanced Allowances Transitional Protection) Regulations 2011 (S.I. 2011/1752) (where the member relies on fixed protection under Schedule 18 to FA 2011);the Registered Pension Schemes and Relieved Non-UK Pension Schemes (Enhanced Allowances Transitional Protection) (Notification) Regulations 2013 (S.I. 2013/1741) (where the member relies on fixed protection 2014 under Schedule 22 to FA 2013);the Registered Pension Schemes and Relieved Non-UK Pension Schemes (Enhanced Allowances Transitional Protection) (Individual Protection 2014 Notification) Regulations 2014 (S.I. 2014/1842) (where the member relies on individual protection 2014 under Schedule 6 to FA 2014);paragraph 14 of Schedule 4 to the Finance Act 2016 (where the member relies on fixed or individual protection 2016 under that Schedule);
- “reportable event” means an event in relation to which information is required to be provided by virtue of these Regulations;
- “reporting year” means the tax year to which an event report relates.
- (2) Section 993 of ITA 2007 applies for the purpose of determining whether a person is connected with another for the purposes of these Regulations.
- (3) Expressions defined, or otherwise explained, in section 280, have the same meaning in these Regulations as they have in Part 4 of the Act.
Provision of information by scheme administrator to the Commissioners
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- (1) The scheme administrator of a registered pension scheme shall provide to the Commissioners an event report in respect of all of the reportable events specified in column (1) of the Table below which have occurred in respect of the scheme during the reporting year, containing the information specified in column (2).
| Reportable event | Information |
|---|---|
| 1. Unauthorised payments | 1. Unauthorised payments |
| The name of the person to whom the payment was made, and—where the person is an individual, the national insurance number,where the person is a company, the company registration number, orin any other case, an alternative number obtained from the Commissioners,together with the nature, amount and date of the payment.; | The name, date of birth (if applicable), address and national insurance or company registration number of the person to whom the payment was made, together with the nature, amount and date of the payment. |
| 2. ... | 2. ... |
| 3. Early provision of benefits | 3. Early provision of benefits |
| The scheme provides benefits to a member of the scheme who is under the normal minimum pension age[^f00005] and before the benefits were provided the member was, either in the year in which they were provided or any of the preceding six years—in relation to the sponsoring employer, or an associated company of that employer, a director or a person connected with a director;whether alone or with others, the sponsoring employer; ora person connected with the sponsoring employer. | The name ... and national insurance number of the member, the nature, date and amount of the benefits provided, and reasons for those benefits having been provided under normal minimum pension age. |
| 4. Serious ill-health lump sum | 4. Serious ill-health lump sum |
| A scheme pays a member of the scheme a serious ill-health lump sum and before the payment was made the member was, either in the year in which they were provided or any of the preceding six years—in relation to the sponsoring employer, or an associated company of that employer, a director or a person connected with a director; orwhether alone or with others, the sponsoring employer; ora person connected with the sponsoring employer. | The name ... and national insurance number of the member, and the date and amount of the payment. |
| 5. Suspension of ill-health pension | 5. Suspension of ill-health pension |
| An ill-health pension which has been paid, pursuant to pension rule 1 in section 165(1), ceases to be paid for any reason other than the member’s death. | The name ... and national insurance number of the member to whom the pension had been paid, the date on which the period of non-payment began and the annual rate of the pension, to which the member was entitled, immediately before that period began. |
| 6. ... | 6. ... |
| 7. ... | 7. ... |
| 8. ... | 8. ... |
| 8A. ... | 8A. ... |
| 9. Transfers to qualifying recognised overseas pension schemes | 9. Transfers to qualifying recognised overseas pension schemes |
| The scheme makes a recognised transfer to a qualifying recognised overseas pension (“QROPS”) scheme which is not a registered pension scheme. | The name and national insurance number of the member, together with— the member’s principal residential address and, where that address is not in the United Kingdom, the member’s last principal residential address in the United Kingdom; if the member is no longer resident in the United Kingdom, the date that the residence ceased; the member’s date of birth; the member’s telephone number, if any, which the member has provided to the scheme administrator for use by the Commissioners in relation to the scheme;the acknowledgement mentioned in regulation 11BA(2)(b);the date of the recognised transfer;in the case of a transfer of sums, the amount of the sums;in the case of a transfer of assets, a description and valuation of each type of asset transferred including the value of any unquoted shares, quoted shares and real property; whether or not overseas transfer charge arises on the transfer;if the transfer is excluded from the charge, the reason why it is excluded;if the charge arises on the transfer—the transferred value, andthe amount in respect of the charge deducted from the transfer; the name and address of the QROPS to which the sums or assets have been transferred; the reference number, if any, given by the Commissioners for the QROPS; the country or territory under the law of which the QROPS is established and regulated; ...the name, address, business telephone number and, where available, the electronic mail address of the manager of the QROPS ; and the amount of the member’s overseas transfer allowance that is available on the making of the transfer. |
| 10. Investment-regulated pension scheme | 10. Investment-regulated pension scheme |
| The scheme becomes, or ceases to be, an investment-regulated pension scheme. | The date on which the scheme becomes, or ceases to be, an investment-regulated pension scheme; andwhether all the investments held by the scheme comprise contracts or policies of insurance. |
| 11. Changes in scheme rules | 11. Changes in scheme rules |
| The scheme changes its rules to—entitle any person to require the making of unauthorised payments; orpermit investment other than in contracts or policies of insurance. | The fact of the change and the date on which the change takes effect. |
| 12. Changes to rules of pre-commencement scheme treated as more than one scheme | 12. Changes to rules of pre-commencement scheme treated as more than one scheme |
| The scheme, being one which immediately before 6th April 2006 was treated in accordance with section 611 of ICTA as two or more separate schemes, changes its rules in any way. | The fact of the change and the date on which the change takes effect. |
| 13. Change in legal structure of scheme | 13. Change in legal structure of scheme |
| The legal structure of the scheme changes from one of the following categories to another.The categories are—a single trust under which all of the assets are held for the benefit of all members of the scheme and which does not fall within category (d);...... a single trust under which all of the assets are held for the benefit of all members of the scheme and which provides benefits only—in the event of the death of a member, andin respect of a sum assured under a policy of insurance which becomes payable on the death of that member;a body corporate; andother. | The date on which the change took effect, together with—the new category listed in column 1 which applies to the scheme; andin the case of a change falling within category (f), a brief description of the nature of the new category of legal structure of the scheme. |
| 14. Change in number of members | 14. Change in number of members |
| The number of scheme members falls in a different band at the end of a tax year from that in which it fell at the end of the previous tax year.The bands are— 0 members; 1 member;2 to 11 members;12 to 50 members;51 to 10,000 members; andmore than 10,000 members. | The new band applicable to the number of scheme members. |
| 15. ... | 15. ... |
| 16. ... | 16. ... |
| 17. ... | 17. ... |
| 18. Scheme chargeable payment | 18. Scheme chargeable payment |
| The scheme is treated as having made a scheme chargeable payment under ... section 185A (income from taxable property) or section 185F (gains from taxable property). | The fact that the scheme is to be treated as having made a scheme chargeable payment. |
| 19. Country or territory of establishment | 19. Country or territory of establishment |
| The scheme changes the country or territory in which it is established. | The date of the change and the country or territory in which the scheme becomes established |
| 20. Occupational pension scheme | 20. Occupational pension scheme |
| The scheme becomes, or ceases to be, an occupational pension scheme. | The fact of the change and the date on which the change takes effect. |
| 20A. Master Trust scheme | |
| The scheme becomes, or ceases to be, a Master Trust scheme within the meaning of section 1 of the Pension Schemes Act 2017 | The fact of the change and the date on which the change took effect. |
| 21. ... | |
| 22. Annual Allowance | |
| The scheme administrator is required to provide a member with a pension savings statement under regulation 14A(1) containing the information specified in regulation 14A(2). | The tax year for which the annual allowance was exceeded and the name and national insurance number of the member together with the information specified in regulation 14A(2)(a). |
| 23. Dual annual allowances | |
| The scheme administrator is required to provide a member with a pension savings statement under regulation 14A(1) containing the information specified in regulation 14A(10). | The tax year for which the statement is provided and the name and national insurance number of the member together with the information specified in regulation 14A(10)(a) and (b). |
| 24. Reportable payments of lump sums or lump sum death benefits | |
| The scheme makes—aa reportable payment of a lump sum to a member (see paragraphs (10) to (14) of this regulation), orba reportable payment of a lump sum death benefit in respect of a member (see paragraphs (15) and (16) of this regulation). | The information is—athe member’s name and national insurance number,bthe nature and amount of the lump sum or lump sum death benefit,cthe date of the payment,din a case in which the payment is the payment of a lump sum, confirmation that any amount of tax due on the excess as a result of the charge to tax on pension income under Part 9 of ITEPA 2003 has been paid, andeeach relevant reference number (if any). |
- (2) Where an individual provides the scheme administrator of a scheme with written confirmation that the individual does not qualify for a national insurance number, the scheme administrator must—
- (a) provide the Commissioners with the individual’s date of birth and address in order to obtain an alternative number from them, and
- (b) provide this alternative number in place of the national insurance number (where the national insurance number is required by paragraph (1)).
- (2A) Paragraph (2B) applies to any amendment—
- (a) delivered on or after 6th April 2011 to an event report delivered before 6th April 2011, and
- (b) which relates to an individual whose details were included in respect of a reportable event in the event report which is being amended.
- (2B) Where paragraph (1) requires the scheme administrator of the scheme to provide the Commissioners with an individual’s national insurance number and where the national insurance number is not known to the scheme administrator —
- (a) paragraph (2) does not apply, and
- (b) the scheme administrator may provide the date of birth in place of the national insurance number.
- (3) For the purposes of reportable event 3 “benefits” does not include a payment—
- (a) which is reportable as reportable event 1 or reportable event 4; or
- (b) which falls within paragraph 10 of Schedule 29.
- (4) No event report is required by virtue of reportable event 10 in respect of arrangements—
- (a) where all the assets held by the scheme comprise contracts or policies of insurance, units in unit trust schemes or shares in open-ended investment companies and in managing those investments, the scheme administrator does not consult with any member of the scheme except to the extent necessary by virtue of the investment offering choices that are available to any person; and
- (b) under which all contributions paid are, after deduction of expenses, invested in deposits with deposit takers and the payment of interest on those deposits comprises the only income of the scheme from its investments.
- (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- (6) The event report shall—
- (a) be in a form specified by the Commissioners, and
- (b) be delivered (subject to the qualification in paragraph (7) , (9) and regulation 4(3)) at any time which falls—
- (i) after the end of the end of the tax year to which the report relates, but
- (ii) no later than the 31st January following the tax year to which the report relates.
- (7) An event report in respect of reportable event 9 must be delivered within 60 days beginning with the day of the transfer to which it relates but, if the scheme administrator applies before the end of those 60 days for a repayment of overseas transfer charge on the transfer, the report must be delivered before the administrator applies for the repayment..
- (8) An event report in respect of reportable event 20A must be delivered within 30 days of the event.
- (9) An event report in respect of reportable event 22, in a case where regulation 14A(6A) or (6B) applies, must be delivered—
- (a) within 3 months of the date of issue of the pension savings statement, or
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