Regulation 6
New regulation 10A
In the principal Regulations, after regulation 10, insert —“Reporting obligation of Trustee-Documented Trust10A.—
If a non‑reporting Singaporean financial institution that is a Trustee‑Documented Trust maintains no U.S. reportable account during any calendar year, the trustee of the Trustee‑Documented Trust must prepare and provide to the Comptroller, or a person authorised by the Comptroller under section 105L of the Act, a return stating that fact.
The trustee of the Trustee-Documented Trust must send the return to the Comptroller or person so authorised on or before 31 May of the year following the calendar year to which the return relates, or such further time as the Comptroller may permit.
The return must be furnished in the format described on the Internet website at https://www.iras.gov.sg.
A requirement under this regulation is a requirement under section 105M(1)(b) of the Act, the failure or neglect to comply with which (if such failure or neglect is without reasonable excuse) is an offence under section 105M(1) of the Act.”.