Citation, commencement and effect

1. —(1) These Regulations may be cited as the Registered Pension Schemes (Prescribed Requirements of Flexible Drawdown Declaration) Regulations 2011 and come into force on 11th August 2011.

(2) These Regulations have effect for the tax year 2011-12 and subsequent years.

Prescribed requirements of valid declaration

2. —(1) Paragraphs (2) and (3) of this regulation provide for the prescribed requirements of a valid declaration made under sections 165(3A)(b) or 167(2A)(b)( 3 ) of the Finance Act 2004.

(2) The declaration must be signed and dated by the member or dependant (“the member”) and contain—

(a) the information specified in paragraph (3);

(b) a statement confirming that the flexible drawdown conditions are met;

(c) a statement confirming that the contents of the declaration are correct and complete to the best of the member’s knowledge and belief, and

(d) (where sections 165(3A) or 167(2A) have previously applied to an arrangement relating to the member), a statement confirming that the declaration referred to in either of those subsections, was accepted by the scheme administrator of the registered pension scheme under which the arrangement was made.

(3) The specified information is—

(a) the member’s full name;

(b) the member’s sole or main address;

(c) the member’s national insurance number (unless regulation 3 applies);

(d) details of each source of relevant income payable to the member for the tax year in respect of which the minimum income requirement is satisfied (“the declaration year”), including the name and address of the person responsible for making the payments of the relevant income; and

(e) the total amount of relevant income payable in respect of the source referred to in paragraph (d) for the declaration year.

Procedure where the member does not qualify for a national insurance number

3. —(1) This paragraph applies where a member does not qualify for a national insurance number and wishes to make a valid declaration under sections 165(3A)(b) or 167(2A)(b) of the Finance Act 2004.

(2) The member must provide written confirmation to the scheme administrator that the member does not qualify for a national insurance number together with details of any unique tax references relating to the member (if available).

(3) The scheme administrator must then provide Her Majesty’s Revenue and Customs with the information referred to in paragraph (2) which has been received from the member together with the member’s date of birth and address.