Section 244ID | Information to be provided by relieved relevant non-UK scheme on block transfer

(1)Subsection (2) applies where—

(a)a relieved relevant non-UK scheme (“the transferring scheme”) makes a transfer to a QROPS, and

(b)the transfer is a block transfer in relation to any member of the transferring scheme.

(2)The scheme manager of the transferring scheme must, before the end of the period of 91 days beginning with the day of the transfer, provide the scheme manager of the QROPS with a statement stating—

(a)that the transfer is a block transfer and, accordingly, that an onward transfer subsequently made by the QROPS of sums or assets derived from those transferred by the block transfer may give rise to an overseas transfer charge under section 244IA,

(b)the date of the transfer, and

(c)the transferred value of the transfer (determined in accordance with section 244K).

(3)Section 244AB(2)(a) (meaning of “block transfer”) applies for the purposes of this section.