〈Compliance with the Regulations for Declaration〉
1. Domestic securities firms approved to conduct foreign exchange business (hereinafter
referred to as “DSFs”) shall assist customers to make truthful declarations pursuant
to the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements
or Transactions (hereinafter referred to as “the Regulations for Declaration”) when
customers settle foreign exchange against New Taiwan dollar (NTD).
〈Documents to be verified for foreign exchange spot transactions and the submission of declaration documents〉
2. When carrying out spot transactions for customers, DSFs shall follow the Regulations
Governing Foreign Exchange Business of Securities Enterprises (hereinafter referred to
as “the Governing Regulations”) with regard to the business scope, amount and
restrictions. The DSF shall first verify the securities transaction documents related
to the spot transactions, and shall note that:
(1) When handling foreign exchange settlements associated with the businesses listed
in the attachment for the same company, the DSF shall verify the veracity of the
relevant documents listed in the attachment before processing the settlement. The
declarant shall be the company’s head office, and the DSF needs not enquire the
settlement amount nor count it toward the DSF’s or the customer’s aggregate
settlement amount of the current year. If the verified document, such as the consent
letter issued by the competent authority, clearly states the settlement amount for
the transaction, the DSF shall make sure that the aggregate settlement amount does
not exceed the amount approved by the competent authority.
(2) When handling foreign exchange settlements associated with businesses not listed in
the attachment, the declarant shall be the head office of the securities firm or the
customer depending on ownership or destination of the foreign exchange receipt,
disbursement or transaction, and unless it is otherwise provided in the Regulations
for Declaration and this Directions for DSF, the DSF should enquire the settlement
amount online and count it toward the securities firm’s head office’s or the
customer’s aggregate settlement amount of the current year.
(3) The DSF shall annotate the settlement date and amount on the relevant supporting
documents and affix its signature/seal thereon, and then retain a photocopy of these
documents along with the top copy of the Declaration Statement of Foreign Exchange
Receipts and Disbursements or Transactions (hereinafter referred to as “Declaration
Statement”) for future reference without submitting them to the Department of Foreign
Exchange. The submission of other declaration information shall be carried out in
accordance with relevant provisions of the Governing Regulations.
〈Enquiry of aggregate settlement amount of the current year〉
3. DSFs that handle the declaration of foreign exchange settlement against NTD
in accordance with Subparagraph 3, Paragraph 1, Article 4 of the Regulations
for Declaration shall enquire online and count the settlement amount toward
the declarant's aggregate settlement amount of the current year, and shall
(1) A DSF should prevent the declarants from using a third party's name to
make the declaration.
(2) For the declaration of a non-resident's foreign exchange settlement, a
DSF is not required to enquire online the declarant's aggregate
settlement amount of the current year.
(3) The enquiry record of the settlement amount shall be printed out on the
DSF's receipt slip of the Declaration Statement to facilitate on-site
examination by the Central Bank of the Republic of China (Taiwan)
(hereinafter referred to as "the Bank") and other financial auditing
〈Attention to the breakup of settlement amount〉
4. DSFs engaging in foreign exchange settlements against NTD in accordance with
Subparagraph 5, Paragraph 1, Article 4, of the Regulations for Declaration
shall be aware that the settlement amount for a single transaction is limited
to a maximum of US$ 100,000. Such DSFs shall prevent declarants from breaking
up a large settlement into smaller ones to circumvent the provision of
Article 6 of the Regulations for Declaration which requires prior approvals
from the Bank.
〈Settlements by persons holding other types of identification documents〉
5. For officials of diplomatic missions in the Republic of China (R.O.C.) and their
family members holding Identification Cards issued by the Ministry of Foreign Affairs,
and persons holding R.O.C. passports issued by the Ministry of Foreign Affairs but do
not have Citizen’s ID Cards, the permitted amount of foreign exchange settlement
against NTD shall be the same as that for non-residents.
6. When engaging in a single foreign exchange transaction against NTD for an amount
less than NT$ 500,000 or the equivalent thereof, the customer is not required to
complete a Declaration Statement and the settlement amount will not be counted toward
the aggregate settlement amount of the current year. DSFs shall, however, be aware of
and prevent customers from breaking up a large settlement into smaller ones to circumvent
the required declaration and enquiries regarding the aggregate settlement amount of the
〈Entry of declarant’s ID number〉
7. DSFs shall assist a declarant to truthfully fill out the "declarant's ID number"
on the Declaration Statement in accordance with the following provisions:
(1) Companies, limited partnerships and firms: Indicate the Uniform Business No.
provided by the competent authorities for its establishment and registration.
(2) Associations: Indicate the uniform tax withholding number assigned by the tax
authorities. For an association without a uniform number, indicate the name
of the competent authorities approving its registration and its registration
A. An individual with a Citizen's ID Card: Write down the Citizen’s ID No. and
date of birth.
B. Holder of a relevant Taiwan Area Resident Certificate or Alien Resident
Certificate with a validity of one year and above: Indicate the uniform
identification number, the date of issuance, date of expiry (enter 999/12/31
for the date of expiry for Alien Permanent Resident Certificate), and date
of birth as specified on the certificate.
C. Minors: For a natural person under 18 years of age bearing a Citizen's ID
Card or a relevant Taiwan Area Resident Certificate or Alien Resident
Certificate with a validity of one year and above, the “declarant's ID number”
on the Declaration Statement shall be provided under the field “Individual”
in accordance with the provisions of the preceding two items, and the legal
representative of the minor shall also sign on the Declaration Statement under
the field “Signature of the declarant and its responsible person.”
A. Natural persons (including minors):
i. Holder of a relevant Taiwan Area Resident Certificate or Alien Resident
Certificate with a validity of less than one year, and for a citizen of
Mainland China and a resident of Hong Kong or Macao holding a Taiwan Entry
and Exit Permit or a relevant entry document but not having resident status:
Indicate the nationality as shown on the certificate or permit, the uniform
identification number (or the permit number if there is no uniform identification
number), and date of birth in the Declaration Statement.
ii. Foreign passport holder or official of diplomatic missions in the Republic
of China and his/her family member holding an identification card issued
by the Ministry of Foreign Affairs, and a person holding a R.O.C. passport
but not having a Citizen’s ID Card: Indicate the nationality, passport
(certificate) number and date of birth in the Declaration Statement.
B. Legal entities:
i.Non-resident legal entity: Shall authorize its representative or agent in
the R.O.C. to act as the declarant. In the Declaration Statement, the said
representative or agent shall write down his/her ID No. or certificate number
and clearly specify the representation or agency relationship.
ii. Foreign financial institution: Shall authorize a local financial institution
to act as the declarant. In the Declaration Statement, the said local financial
institution shall write down its identification number of the establishment
permit issued by the competent authority and clearly specify the representation
or agency relationship.
〈Verification of declarant’s identity〉
8. Before processing the declaration of foreign exchange settlement, a DSF shall
first verify that a declarant's registration certificate number indicated by a
declarant according to the provisions of the preceding point (point 7) is the
same as the corresponding number on the declarant's identification document or
primary registration data. The DSF shall also verify the entrustment or authorization
document for settlement declaration, and confirm that the foreign exchange involved
in the receipts, disbursements, or transactions actually belongs to or is needed by
the declarant himself/herself before processing the declaration. A DSF shall also
(1) If the declarant is a company, limited partnership or firm, the DSF shall visit
the website of Commerce Industrial Services Portal of the Ministry of Economic
Affairs and go to “Enquiry of company registration”, “Enquiry of limited
partnership registration” or “Enquiry of business registration” to enquire
and verify the registration information of the company, limited partnership, or
(2) If the declarant is a non-resident under 18 years of age, the DSF may verify
the required documents in accordance with its internal operation procedure and
applicable provisions of the Civil Code on a case-by-case basis.
〈Declarant’s signature on the Declaration Statement〉
9. Information written down in a Declaration Statement concerns the rights and
obligations of a declarant. In case a Declaration Statement is filled out for a
declarant by a third person, the declarant shall affix his/her seal or signature
on the Declaration Statement after verifying the accuracy of all the declared items
to specify explicitly his/her responsibility.
〈Assistance in truthful declaration〉
10. DSFs shall assist declarants to fill out the Declaration Statement carefully
and truthfully. In the event that the nature of the settlement and the amount
to be settled violate the common sense or are inconsistent with the status or
occupation of the declarant, the DSF shall assist the declarant to make a truthful
declaration before processing the settlement.
〈Seal of the declarant〉
11. In case a declarant uses a seal for a specific purpose on his/her Declaration
Statement, the specific purpose of the seal shall be the one for making settlements
only or relevant to the settlements.
〈Alteration of the Declaration Statement〉
12. The amount stated in a Declaration Statement shall not be altered. If any
other fact stated in the Declaration Statement is altered, the declarant shall
affix his/her seal or signature next to the alteration.
〈Completion of Declaration Statement and examination of nature of transaction〉
13. DSFs shall check whether all the fields on the Declaration Statements are properly
filled out. The nature of settlement shall be documented accurately and not be
replaced with a remittance classification code. When there is more than one nature
or currency of settlement, such natures, currencies and settlement amounts shall be
separately indicated. The nature of settlement shall be declared according to the
(1) The nature of foreign exchange receipt or transaction: Companies, limited
partnerships, firms, associations and individuals shall indicate the sources of
their foreign exchange revenue; non-residents shall indicate the use of NTD proceeds
from sale of foreign exchange.
(2) The nature of foreign exchange disbursement or transaction: Companies, limited
partnerships, firms, associations and individuals shall indicate the use of their
foreign exchange proceeds; non-residents shall indicate the sources of NTD revenue
for purchasing foreign exchange.
〈Agreement on declaration over the Internet〉
14. When a DSF accepts a declarant's application for making declarations of
foreign exchange settlements through the Internet in accordance with Article
11 of the Regulations for Declaration, the related terms and conditions of
the agreement between the DSF and the declarant shall include matters
prescribed in Article 12 of the Regulations for Declaration.
〈Design of online control programs〉
15. DSFs shall design online control programs according to declaration procedures
which are applicable for making declarations in person at the DSF, and shall
provide online declaration instructions, the Regulations for Declaration and
relevant provisions on the website, and assist declarants in making declarations
through the Internet.
〈Enquiry of online declaration〉
16. When a declarant makes a foreign exchange settlement declaration through the
Internet pursuant to Subparagraph 3, Paragraph 1, Article 4 of the Regulations
for Declaration, the DSF shall use an online real-time enquiry system and count
the settlement amount toward the declarant’s aggregate settlement amount of the
current year to make sure the declared amount does not exceeded the Annual Aggregate
Settlement Amount before processing the declaration. The DSF shall also show the
enquiry records on the declaration medium retained by itself.
〈Verification of online declaration documents〉
17. When processing a declarant’s declaration of foreign exchange settlement against
NTD through the Internet, DSFs shall first verify the veracity of relevant securities
transaction documents provided and annotate the settlement date and amount, Foreign
Exchange Memo number and affix its signature or seal on the relevant documents for
〈No alteration of online declaration information〉
18. DSFs may not alter any of the declarant's declaration information retained in
〈Correction of declaration content〉
19. To correct the content of the Declaration Statement, a declarant shall submit the
application along with the following documents to the Bank through the DSF which
handled the original declaration:
(1) Correction of declaration of foreign exchange settlements against NTD:
A. A declarant unintentionally making an untruthful declaration: Submit an opinion
letter issued by a lawyer, an accountant or a DSF indicating that the untruthful
declaration was unintentional, relevant supporting documents, the original Declaration
Statement and the Foreign Exchange Purchase (Sale) Memo (those who declared through
the Internet shall submit the Declaration Statement and the Foreign Exchange Purchase
(Sale) Memo printed by the DSF), and the corrected Declaration Statement and the
Foreign Exchange Purchase (Sale) Memo. The content of the opinion letter shall
include the declarant's name, the settlement date and amount, the content of the
original declaration, the corrected declaration, and the reason for making the mistake
on the original declaration.
B. A declarant intentionally making an untruthful declaration, and having already been
penalized pursuant to Paragraph 1, Article 20 of the Foreign Exchange Regulation Act:
Submit the receipt of the fine paid, the corrected Declaration Statement, the Foreign
Exchange Purchase (Sale) Memo and the relevant supporting documents.
(2) Correction of other transaction certificates: Submit the original certificate
drawn by the DSF (those who declared through the Internet shall submit the certificate
printed by the DSF), the corrected certificate drawn by the DSF, and the documents
supporting the content-correction application.
(3) Correction of Foreign Exchange Purchase (Sale) Memo with the amount less than
NT$500,000: Submit the original Foreign Exchange Purchase (Sale) Memo drawn by
the DSF (those who declared through the Internet shall submit the memo printed by
the DSF), the corrected Foreign Exchange Purchase (Sale) Memo, and the documents
supporting the content-correction application.
The DSF shall make photocopies of relevant supporting documents and information
for the correction of declaration content mentioned in the preceding paragraph,
and shall retain the photocopies along with the original declaration information
for future reference.