In connection with the termination of a plan, all banks and pension providers must prepare a final statement of the basis of taxation (for the period 1 January to the day of termination) and pay the tax thereon.

The tax must be paid to account no. 3100 740 3615 within three bank days of disbursement to the client. The rules thereon are contained in Section 23(1) of PAL.

When the year of taxation has ended, a combined statement must be submitted of all pension plans cancelled during the year. For banks, credit institutions and capital pension funds, the deadline is 15 January after the end of the year of taxation, and the deadline is 31 March for insurance companies and pension funds etc.

Reporting can be made via TastSelv or on the forms prepared by SKAT. If TastSelv is used, the correct declaration will automatically become available in TastSelv. You will receive an email with information thereon. Please refer to section 10, TastSelv, for more information on TastSelv.