September 14, 2020
REVENUE MEMORANDUM CIRCULAR NO. 103-20
| SUBJECT | : | Registration of Overseas Filipinos for Purposes of Opening a Bank Account in Availing of Personal Equity and Retirement Account (PERA) |
| TO | : | All Internal Revenue Officers, Employees and Others Concerned |
The Bangko Sentral ng Pilipinas (BSP) and Bureau of Internal Revenue (BIR) had launched the Digital Personal Equity and Retirement Account (PERA) platform. The PERA was created under Republic Act No. 9505 and implemented by Revenue Regulations No. 17-2011 and Revenue Memorandum Order No. 42-2016.
With the launching of the digital platform, Overseas Filipino investors who do not have any Taxpayer Identification Numbers (TINs) are being required to secure their TINs before they can open an account with banks and become eligible to invest in the PERA. Hence, all Overseas Filipinos can submit application for Taxpayer Identification Number (TIN)/registration through the following manners:
1. Through their Authorized Representative
Overseas Filipinos may secure their TIN manually, through their authorized representative by submission of the required documentary requirements specified under Annex A5.1 [E.O. 98 — Individual (Local)]...
