Has anyone attempted registering a UK trust with an Irish investment bond on the Irish CRBOT yet?
There seems to be multiple stages to complete. How long does the whole process take?
Hi
Yes, we have. It is a convoluted process to register as agent and waiting for the email and then the letter (there are stages between each part) took over a week. There is then the requirement to upload pdf proof of ID (utility statement plus photo ID such as passport). We saw no mention of this in the guidance and collated the info in the same way as if we were registering under the UK TRS.
There is a question requiring the inclusion of a responsible person and this requires an EIRECODE, which of course we do not have as all parties are in the UK. We haven’t solved this yet, so would be interested to know if anyone else has had any luck.
Katherine
Thanks Katherine - is that ID for you the agent or the lead trustee? As you said, that isnt stated anywhere in any guidances!
All trustees, named beneficiaries and living settlors. As you can imagine, it took us by surprise and has slowed the whole process down considerably. At least we know now!
Ive just received this reply from CRBOT after my request for a TAIN:
*Dear Customer,
We acknowledge your application for a TAIN as a UK Trustee or representative, to allow you to meet your obligations to register on the Irish Trust Register (CRBOT).
We are currently working on simplifying the CRBOT registration process for our non-resident customers. We will be in contact in due course with updated instructions on how to meet your obligations. A TAIN is not required at this time.
Please note that, in this interim period, a penalty will not be levied for not completing the CRBOT registration.
Kind regards,
Trust Register Team
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That is interesting - we have found the whole thing a nightmare and still not managed a complete registration. It is at least a comfort that others must have been finding problems for them to adapt the process.
Good luck with yours!
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