Step by Step Guide on How to File UBO with FBR?

To file the UBO (Ultimate Beneficial Ownership) Form in the Federal Board of Revenue (FBR) portal under Section 181E, follow this step-by-step guide:

Step 1: Access the IRIS Portal

1. Open the FBR IRIS portal.
2. Log in using your credentials (User ID and password).

Step 2: Navigate to the UBO Filing Section

1. Once logged in, go to the "Registration" menu.
2. Select the "Application Addition of Beneficiary Owners U/S 181E" option from the dropdown.

Step 3: Fill in Beneficial Ownership Details

In the form, provide the details of the beneficial owners, which include:

1. Full name.
2. CNIC/Passport number (for non-residents).
3. Address.
4. Percentage of ownership or control in the entity.
5. Nature of ownership (direct or indirect).

Ensure all details are accurate and comply with the prescribed format.

Step 4: Update Changes (If Applicable)

• If there are changes in the beneficial ownership, update the particulars immediately using the same process.

Step 5: Submit the Form

1. After completing the form, review all details to ensure accuracy.
2. Click Submit to electronically file the form.
3. A confirmation message will appear upon successful submission.

Step 6: Retain the Acknowledgment

• Download and save the acknowledgment receipt for your records.

Tips for Compliance

• Make sure to regularly update beneficial ownership information to stay compliant with Section 181E.
• Non-compliance will result in penalties or legal consequences under the tax laws.

This article was published at How to File UBO Form on FBR IRIS Portal?