A. Required actions by heirs to process their inheritance via ATHEXCSD
1. Provision of information on the portfolio of the deceased
The service is provided upon submission of the Application for Provision of Information, in case of Inheritance (AIT025E) and the necessary supporting documents, in accordance with the relevant instructions (KAA502E).
The service is provided with a fee (Decision 18 of the Board of Directors of ATHEXCSD) of €6.20 (VAT included). If the requested information is sent to the heir by courier instead of e-mail, shipping costs (€1.5) will be charged and the total fee for the service will be €7.70.
ATHEXCSD registers the date of death in the account of the deceased maintained in DSS and informs the Participant to transfer the deceased's securities to the special deceased account. The Participant immediately proceeds with the above transfer.
2. Declaration of inheritance tax to the Public Revenue Service of the deceased and issuance of the certificate of article 105 of Law 2691/2001 [N.D. 118/1973] for each heir
In case a certificate for the closing price of the securities held by the deceased on the previous working day from the date of death it is requested by the relevant Public Revenue Service, relevant for the submission of an inheritance tax declaration and the issuance of the certificate of article 105 of Law 2691/2001 [N.D. 118/1973], the above certificate is issued by ATHEXCSD, following a submission of the corresponding application (AIT049E) by the applicant. It is noted that the inheritance tax return does not include cash distributions made after the date of death or securities credited to the deceased's share s after the above date due to corporate actions.
ATHEXCSD fees according to Decision 18 BoD:
- For 1-20 securities: €6.20 (VAT included)
- For 21-29 securities: €12.40 (VAT included)
- For 30 securities and more: €6.20 (VAT included) - The Daily Price Bulletin at the date before the death is delivered.
In the event that the requested information is sent by a courier company instead of e-mail, shipping costs (€1.5) will also be charged.
3. Creation by an ATHEXCSD Participant of an individual client investor share code for each heir (for heirs not having a share)
The heir asks the Participant of his choice for creating to create an individual investor share code.
4. Legalization of heirs
A necessary condition for the legalization of heirs is for the inheritance tax declaration to have been submitted to the relevant Public Revenue Office. The required actions are the following:
- Submission of the Application for the Transfer of Securities due to Inheritance (AIT026E), in accordance with the relevant instructions (KAA503E) to ATHEXCSD by each heir
- Payment of ATHEXCSD's transfer and legalization fees (the applicant is informed for the relevant fees by ATHEXCSD).
ATHEXCSD fees for the transfer: 0.04% of the value of the transfer, with a minimum fee between the lesser of €20 and 20% of the value of the transfer.
ATHEXCSD fees for the legalization: a lump sum of €37.20 (VAT included), per heir, regardless of the portfolio value and the number of inherited securities.
More information on the fees is listed in the corresponding instructions (KAA504E).
B. Required actions by heirs to process their inheritance via a Participant or Issuer
1. Obtaining information about the deceased's portfolio composition and valuation at the date before death.
2. Submission of an Inheritance tax declaration to the relevant Public Revenue Office of the deceased and submission of the certificate of article 105 of Law 2691/2001 [N.D. 118/1973] or the Inheritance Tax Declaration accompanied by a Self-Declaration of Article 8 of Law 1599/1986 (Government Gazette 75A), signed by the applicant and authenticated by an administrative authority (gov.gr), in which it is stated that "the data resulting from the Declaration of Inheritance Tax have not changed and no tax is due', for each heir.
3. Creation of an individual client investor share code for each heir (for heirs not having a portion) by a Participant
4. Submission of a letter of legalization attaching the above certificate of Public Revenue Office, to ATHEXCSD by the Participant / Issuer
5. Payment of ATHEXCSD transfer fees (the applicant is informed of the relevant rights by the Participant / Issuer): 0.04% of the value of the transfer, with a minimum of the lesser between €20 and 20% of the value of the transfer.
C. Optional Actions
In the event that the above actions for legalization and transfer are not made, a Client Death Notification would have to be made.
- Any of the heirs should notify the death immediately, by sending the relevant application (AIT033E) to ATHEXCSD, attaching the death certificate, either by post or e-mail.
In case of postal notification, a certificate of authenticity is required for the signature of the applicant heir either by an administrative authority or electronically, in accordance with the terms stated at www.gov.gr.
- Shipping address: Hellenic Central Securities Depository S.A. / Accounts & Registry Services Department / 110 Athinon St., 10443 Athens
In case of an e-mail notification, a certificate of the original signature of the requesting heir is required in the application, in accordance with the terms stated at www.gov.gr.
- E-mail address: firstname.lastname@example.org
- The notification of death to ATHEXCSD may also be made by a Participant or Issuer.
- ATHEXCSD registers the date of death in the investor share code of the deceased maintained in DSS and informs the Participant to transfer the securities to the special account of the deceased.
- The Participant concludes the above transfer.
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