You must complete and submit form 49.020 (Declaration L) to the Danish Tax Agency when you: • take out life insurance or a pension scheme * outside Denmark
• move to Denmark with full tax liability and have life insurance or a pension scheme outside Denmark
• become the beneficiary of a life insurance policy or pension scheme outside Denmark You must submit Declaration L (form 49.020) 60 months after taking out life insurance/a pension scheme outside Denmark that is subject to a tax deduction according to section 15 D of the Danish Pension Tax Act (Pensionsbeskatningsloven). * Life insurance/pension scheme covers life insurance or pension scheme, health and accident insurance or other pension insurance with a non-Danish pension company, pension fund or other pension provider. Information every year Please submit the following information to the Danish Tax Agency each year before 1 July: • Name, address and CPR no. of policyholder
• Name and address of pension provider
• Total value of the life insurance/pension scheme at year-end
• Payments from the scheme for the year
• The returns on the scheme for the year calculated according to sections 3-5 of the Danish Taxation of Pension Investment Returns Act (Pensionsafkastbeskatningsloven) (to be entered in field 433 of the declaration) The information may be submitted by you as the policyholder or by the non-Danish company. Exemption from submitting information You are exempt from submitting information every year (form 49.020): • if you meet one of the conditions under section 5 of the form. You must inform us if you no longer meet the conditions for exemption, but continue to have the life insurance/pension scheme or
• in case of funeral insurances or similar where the returns are always negative, and one year’s contributions are used to cover the payments made during that same year, with the effect that the scheme has no capital appreciation. If your life insurance or pension scheme is cancelled You must complete and submit a signed Declaration L (form 49.020) to the Tax Agency if your life insurance/pension scheme is cancelled. Please enclose documentation for the cancellation. It is important that you comply with your duty of declaration. If you do not, we may impose default fines on you (see section 72(2) of the Danish Tax Control Act (Skattekontrolloven)) or terminate your life insurance or pension scheme. Legislation and statutory rules The duty of declaration is legally based on sections 16-18 of the Danish Tax Control Act. |