Notice to U.S. Registered Shareholders* – Irish Dividend Withholding Tax
Because JCI is now an Irish-domiciled company, registered shareholders are subject to a 20% Irish Dividend Withholding Tax (DWT). Registered shareholders who owned Johnson Controls shares prior to the merger have a grace period for DWT withholdings, set to expire on August 17, 2017. If you are a registered holder of JCI, you will need to take action to ensure that DWT is not withheld from your dividend proceeds. A registered shareholder is a shareholder who holds shares directly with the transfer agent, Wells Fargo Shareowner Services, NOT through a brokerage, mutual fund or other investment account.
There are a few ways to obtain an exemption from DWT:
1. Move your shares from your registered account (with our transfer agent, Wells Fargo Shareowner Services) to a brokerage and make sure the broker has a W-9 on file for you and is able to obtain the DWT exemption on your behalf;
2. Keep your shares in your registered account with Wells Fargo Shareowner Services and register with GlobeTax, pay a $149 fee and maintain your exemption from DWT for 5 years, by registering here https://ecerts.globetax.com/ and using the code JCPLC (please review the FAQ for additional information); or
3. Keep your shares in your registered account with Wells Fargo, pay an $85 fee to the IRS and fill out Form 8802 in order to obtain a Form 6166, which you will need to file, along with Irish Form V2A with Irish Revenue.
*Non-U.S. Registered Shareholders may also work with GlobeTax to obtain an exemption by registering with GlobeTax. Please review the FAQ for additional information.