Central Register of Beneficial Ownership of Trusts (CRBOT)
02 July 2025EU money laundering legislation means that all trusts with a Standard Life International Portfolio Bond on Wrap (IPB), must now be registered with the Irish Revenue. Registration is made through the Irish Revenue’s Central Register of Beneficial Ownership of Trusts (CRBOT).
What is CRBOT?
The purpose of the CRBOT is to help prevent money laundering and terrorist financing by improving transparency on who ultimately owns and controls trusts (including UK trusts holding Irish offshore bonds).
The CRBOT will contain details of relevant trusts and their beneficial owners. Trustees need to submit these details to Revenue, who will manage the CRBOT.
Bond providers have an obligation to ensure the details they hold on their systems match those on the CRBOT before the trustees can take certain actions.
From 1 September, Standard Life International will not be able to carry out the transactions noted below until they are satisfied that the information entered on CRBOT is correct.
- surrender request (full or partial)
- assignment out of trust
- assignment in to trust
- when a new increment or new recurrent single payment is made to an existing trust
- update of beneficial owners
This will require the trustees to complete a CRBOT access form to allow Standard Life International to access the details held on the CRBOT for up to 90 days. Please note, the Access Form is not yet available on the Irish Revenue website. However, this does not mean registration should be delayed. Once the form is available the Standard Life webpage will be updated.
More information can be found on Standard Life’s webpage.