Economic Substance Notification User Guide – Bulk Submission

Summary

This is a DITC user guide explaining the technical, step-by-step process for submitting Annual Economic Substance Notifications (ESNs) in bulk through the Corporate Administration Platform (CAP), using a CSV upload rather than individual smart-form submissions. It is aimed at agents/registered offices who file ESNs on behalf of multiple entities.

Bulk Submission Process

• Download: Download the bulk-submission template.
• Populate: Populate required columns, including new fields for financial year start/end dates, general partner details, and regulator identification numbers.
• Upload: Upload the completed file.
• Check for errors: Check the uploaded file for errors.
• Correct failures: Correct any failed submissions.

Underlying Legal Requirement

• Statutory basis: Section 7(1) of the International Tax Co-Operation (Economic Substance) Act requires all relevant entities, as defined, to file an ESN annually.
• Prerequisite: Filing the ESN is a prerequisite to filing the Annual Return with the General Registry.
• Who must file: The guide clarifies which entities must file, noting that trusts are excluded.
• Foreign entities: Foreign companies and foreign limited partnerships must file an ESN even though they do not file Annual Returns.
• Transitional arrangements: Transitional arrangements apply for certain partnerships.
• Penalties: Penalties apply for late or missing filings.

Practical Compliance Mechanics

• Financial year dates: The guide explains the format and content required for the financial year start/end date fields.
• Missing identification numbers: It clarifies when 'N/A' or 'NO DATA' can be used for missing CIMA/FI/IRS GIIN numbers, and notes that these must later be supplied on the ES Return or TRO Form.
• Correcting errors: It explains how to correct errors in a submitted bulk file.
• Updating contact email: It explains how to update a Registered Office's DITC email address used for ESN purposes in CAP.

Key obligations

• Entities within the ES Act definition (excluding trusts) must submit an Annual Economic Substance Notification (ESN) each year as a prerequisite to filing their Annual Return.
• Foreign companies and foreign limited partnerships must submit their ESN by 31 March each year even though they are not required to file an Annual Return.
• General, limited, exempted limited, and foreign limited partnerships must submit ESNs annually, subject to transitional arrangements for partnerships existing before 30 June 2021; general partnerships must submit directly to DITC rather than through CAP.
• Bulk CSV submissions must use the current version of the 'Sample Economic Substance Bulk Submit' template (26 columns); older versions will not be accepted.
• Columns B and C (Date of Financial Year Start/End) must be completed in the specified date format where the entity claims the tax-resident-outside exception or is a relevant entity carrying on a relevant activity; otherwise 'N/A' must be entered.
• Where CIMA number, FI number, or IRS GIIN cannot be obtained in time, 'N/A' or 'NO DATA' may be entered, but if 'NO DATA' is used the correct number must later be provided on the ES Return or TRO Form.
• Column Y (General Partner) must contain the ROC registration number (padded to eight numerals) of the General Partner where applicable, and Column Z must indicate whether the General Partner's relevant activity matches the partnership's.
• Entities that fail to report as required under the ES Act by the due date are subject to penalties.
• Errors in a bulk submission must be corrected and resubmitted (either as a full overwrite bulk file or via individual smart-form ESNs) while the ESN Year remains available in CAP.

Applies to

companies incorporated under the Companies Act, limited liability companies, limited liability partnerships, foreign companies registered under the Companies Act, partnerships under the Partnership Act, exempted limited partnerships, foreign limited partnerships, registered offices/agents acting on behalf of entities

Deadlines

• 31 March each year: Deadline for submitting the Annual Economic Substance Notification, aligned with the General Registry's Annual Return filing deadline; e.g. the 2022 ESN is due by 31 March 2023.
• within 12 months of the Date of Financial Year End (Column C): The ES Return/TRO Form for the relevant ESN Year is due within 12 months of the financial year end date specified in the ESN.