On Dec. 27, PAN CB instructed on requirements for filing the form.
PAN CB issued Circular 2024-0093 on report of fiduciaries with unknown whereabouts.
Highlights
Form SB-FIDPD-01 reporting under the provisions of Article 30 of Law 21 of May 2017.
This Law established regulation and supervision of trustees and the trust business.
Trustees must submit to PAN CB information on their operations, activities, all trusts.
So, PAN CB requires that entities with a fiduciary license send it information related to the trusts in which the fiduciary has lost contact with the trustor or beneficiaries.
Applies if lost contact for a period greater than five (5) years, per Article 109 of Law.
Attached the circular the form “Report of Trusts with the condition of trustors with unknown whereabouts (SB-FIDPD-01), which must be completed with requisite data.
Filed quarterly via Digital Information Transfer System of Obligated Subjects (TIDSO).
Effectiveness
First report for Mar. 31, 2025 quarter, is due within 10 business days after the close.
