Q：
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How can I open a TRC Account?
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A：
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You can apply to open a TRC Account in writing through the Form IR1306. After processing your application, Inland Revenue Department (“IRD”) will notify you of your TRC Account Number.
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Q：
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How can I redeem TRCs for cash?
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A：
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You can do so by completing and returning to IRD a redemption form (Form IR1333).
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Q：
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If I redeem for cash TRCs in my account, when can I expect to receive the refund?
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A：
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It normally takes 9 working days during July to December and 12 working days during January to June.
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Q：
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Can I redeem for cash TRCs in my account and yet earn interest?
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A：
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No. Only TRCs redeemed for settlement of your tax liabilities can earn interest.
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Q：
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Do I need to notify IRD if I wish to redeem the TRCs in my account for settlement of my tax liabilities?
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A：
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TRCs will be redeemed automatically on a First-In-First-Out basis for settlement of your tax liabilities. About 2 weeks before the tax due date, IRD will send a ‘proposal for redemption’ to you showing details of certificates intended to be redeemed and any tax liabilities to be settled separately.
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FAQ
