Section 60I/60J Notice: Notice under Section 60I / 60J of the Stamp Duties Act
This notice is how an umbrella Variable Capital Company (VCC) tells the Commissioner of Stamp Duties about a transaction in chargeable assets with, or between, its sub-funds when no instrument was executed to effect it.
This is the genuine IRAS PDF, unmodified. Source: IRAS official page.
What is Section 60I/60J Notice?
IRAS explains that where an umbrella VCC effects an acquisition or disposal with its sub-funds, or between its sub-funds, in a way that is not evidenced or signified by an instrument, and an instrument would have been chargeable with duty, the umbrella VCC must give notice to the Commissioner of Stamp Duties. The notice itself is then chargeable with stamp duty.
The form is a single page addressed to the Commissioner of Stamp Duties at 55 Newton Road, Revenue House, Singapore 307987. Part A identifies the umbrella VCC, its UEN-VCC number and the authorised signatory. Part B describes the transaction, the chargeable assets involved (Singapore immovable property, shares or other assets), the date and the consideration and market value. Parts C and D name the party from whom and the party to whom the asset is transacted.
Who files Section 60I/60J Notice?
- Umbrella VCCs that move chargeable assets to or from one of their sub-funds without an instrument
- Umbrella VCCs transferring chargeable assets between two sub-funds of the same umbrella
- Authorised signatories, directors and fund administrators acting for the umbrella VCC
- Tax agents and law firms preparing the notification on behalf of a VCC
How to fill out Section 60I/60J Notice
- Enter the name of the umbrella VCC and its UEN-VCC number in Part A, with the name, designation and signature of the authorised signatory.
- In Part B, tick whether the transaction is between the umbrella VCC and a sub-fund or between sub-funds of the same umbrella VCC.
- Identify the chargeable assets: the address or land details of Singapore immovable property, the company name and class and number of shares, or a description of the other assets.
- Give the date of the transaction and a full description, including the consideration and the market value, and attach supporting documents.
- Complete Parts C and D with the name and ID number of the party transferring and the party receiving the asset, then submit the notice to the Commissioner of Stamp Duties, 55 Newton Road, Revenue House, Singapore 307987, within 14 days of the transaction.
Get Section 60I/60J Notice
IRAS publishes Section 60I/60J Notice as a flat PDF with no built-in form fields, so there is no quick-fill form here. Open it in the editor to type directly onto the pages, tick boxes and sign, or download the official blank and complete it in your PDF reader or by hand.
Frequently asked questions
When does an umbrella VCC have to give this notice?
Within 14 days of the transaction with its sub-fund or between its sub-funds. IRAS may also ask for further information after the notice is submitted.
Is the notice itself chargeable with stamp duty?
Yes. IRAS states that the notice shall be chargeable with stamp duty accordingly, which is why the form asks for the consideration and the market value of the assets involved.
What if a transaction was done by an instrument instead?
Then the instrument is stamped in the normal way through e-Stamping and this notice is not the right route. The notice covers acquisitions and disposals that are not evidenced or signified by an instrument.