PTM161800 | Information and administration: Reportable event 24

Regulation 3 The Registered Pension Schemes (Provision of Information) Regulation 2006 - SI 2006/567

Reportable Event 24

This event occurs where:

• A lump sum in excess of the individual's available lump sum allowance (see PTM174100) is paid to a member of the scheme, following a relevant benefit crystallisation event (see PTM173000) in relation to the member.

• A lump sum that would have been in excess of the lump sum and death benefit allowance (see PTM174200) (irrespective of any protection or enhancement factor), is paid to a member of the scheme or their beneficiary, following a relevant benefit crystallisation event in relation to the member.

• A lump sum that would have been in excess of the lump sum allowance (irrespective of any protection or enhancement factor), is paid to a member of the scheme, following a relevant benefit crystallisation event in relation to the member.

• The aggregate lump sum death benefits paid by a scheme in respect of a deceased member of that scheme, following a relevant benefit crystallisation event in relation to the member, exceeds the lump sum and death benefit allowance (see PTM172000)

When this event occurs, the following information must be provided:

• The member's name,

• The member's national insurance number,

• The date of the relevant benefit crystallisation event,

• The relevant benefit crystallisation event (the nature and amount of the lump sum or lump sum death benefit),

• Each protection or enhancement type and the reference number (if applicable),

• The amount of income tax already paid on any excess (if applicable)

HMRC will calculate the income tax due when lump sum and death benefit allowance is exceeded.