As part of the anti-crisis shield package, the Polish government decided to extend the deadline for companies established before 13 October 2019 to submit information to the Central Register of Real Beneficiaries (CRBR). Under the Anti-Money Laundering and Terrorist Financing Act of 1 March 2018, the existing deadline was 13 April 2020. This deadline has now been postponed to 13 July 2020. However, the situation of companies established after 13 October 2019 remains unchanged. For them, the notification deadline is still 7 days after the registration.
What is the Central Register of Real Beneficiaries?
CRBR is a system in which information on beneficial owners, i.e. natural persons exercising direct or indirect control over a company, is collected and processed. The register is public, allowing anyone to access the information that it contains.
Which entities are subject to the notification requirement?
The obligation to report data to CRBR applies to: general partnerships, limited partnerships, limited joint-stock partnerships, limited liability companies, and joint-stock companies, except public companies within the meaning of the Act of 29 July 2005 on Public Offering and Conditions Governing the Introduction of Financial Instruments to Organised Trading and Public Companies.
How to report data to CRBR?
Data is reported to the CRBR using an e-form available on the Ministry of Finance website: https://www.podatki.gov.pl/crbr/. The submission of the notification is free of charge. The notification should be signed (with a qualified electronic signature or a signature confirmed with the ePUAP trusted profile) by a person or, in a case of joint representation, persons entitled to represent the company concerned by the notification.
The reported data should be reflecting reality. The report contains a declaration by the reporting person about the truthfulness of the reported information (it is made under pain of criminal liability for making a false declaration).
In case of change of the information provided, the update of the data should take place within 7 days (not including Saturdays and public holidays) from the moment when the change has occurred.
Please be advised that under no circumstances this article should be treated as a legal opinion or advice. It also does not exhaust all the relevant issues relating to submitting a CRBR notification. For more detailed information or legal assistance in submitting a notification, including determining who in your company is the beneficial owner and who should be reported to CRBR, please contact DT’s lawyer.