Registration of Overseas Filipinos for Purposes of Opening a Bank Account in Availing of Personal Equity and Retirement Account (PERA)

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)] of Revenue Memorandum Circular No. 57-2020. The application for TIN shall be filed at Revenue District Office (RDO) No. 39-South Quezon City. 2. Via Electronic Mail (e-Mail) Application Overseas Filipinos may submit application for TIN thru email at [emailprotected] together with the following documentary requirements with reference to the Implementing Rules and Regulations of RA 9505. Special Rules for Overseas Filipinos applying for TIN through email: Only the Overseas Filipino can submit his/her application via email. Authorized representative is not allowed. The application sent via email shall be required to attach a scanned copy of the following documentary requirements: HESIcT a. Duly accomplished and signed BIR Form No. 1904 (Annex A); b. Passport (Bio page, including date of exit/departure stamp, if applicable); c. In lieu of Special Power of Attorney, as proof of absence in the country and account opening with banks, Overseas Employment Certificate (OEC) issued by the Philippine Overseas Employment Administration (POEA); or any official document showing that he will earn or has earned income in a foreign country in the year of PERA Contribution; d. In case of legitimate spouse of the Overseas Filipino, the marriage certificate shall be submitted in addition to items (a) to (c) mentioned above. For purposes of this registration, Overseas Filipinos shall not be issued any TIN Card. For applications filed manually, the BIR Form No. 1904 duly stamped received indicating the TIN issued shall serve as proof of registration. On the other hand, for applications filed through email, the acknowledgment receipt/reply to the email is sufficient proof of receipt of such application. All internal revenue officers, employees and others concerned are enjoined to give this Circular the widest dissemination and publicity as possible. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ANNEX A BIR Form No. 1904 Application for Registration