Income Tax Act — Article 115-2 (Submission of Statement of Changes in the List of Beneficiaries)

The trustee of a trust shall prepare and maintain a statement of changes in the list of beneficiaries as prescribed by Presidential Decree, when a trust is established for a trust beneficiary interest under Article 94 (1) 6 or when changes occur in the beneficiaries due to the transfer, etc. of the beneficiary interest, and shall submit the statement of changes in the list of beneficiaries to the head of the tax office with jurisdiction over the place for tax payment from May 1 to May 31 (in the case of a trustee of trust property subject to corporate tax, this refers to the reporting period specified in Article 60 of the Corporate Tax Act) of the year following the taxable period in which the trust establishment or the beneficiary changes occur.[This Article Newly Inserted on Dec. 29, 2020]