Mandatory comms
From 1 April 2023, the Trust Regulation Service (TRS) regulations have been widened. Due to the 5th Money Laundering Directive an up-to-date HMRC ‘proof of registration’ document may be required before we action certain transactions or make updates to trust details.
Prudential International Assurance (PIA) Bonds (with the exception of Prudential Onshore Portfolio Bond*): You’ll need to register the trust on the Irish Central Register of Beneficial Ownership of Trusts (CRBOT). You also need to maintain an Internal Trust Register (ITR) and provide evidence of CRBOT and ITR to PIA.
If you need more information on CRBOT more details can be found on our CRBOT page.
* For Prudential Onshore Portfolio Bond, please follow the UK TRS requirements.
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