Form IRSD107 Application for Stamping and Endorsement Facilities

What Is Form IRSD107 Application for Stamping and Endorsement Facilities?

Form IRSD107 requests permission from the Hong Kong Stamp Office to stamp documents in bulk. This facility serves businesses and professional firms handling high volumes of instruments requiring stamping, such as share transfers, contracts, or property documents. The Inland Revenue Department's Stamp Office administers the application to ensure entities meet its eligibility criteria. Authorisation allows stamping without individual submissions, streamlining compliance with the Stamp Duty Ordinance (Cap. 117). The form collects details about the applicant, the nature of the documents, and the proposed operational procedures.

Eligibility Criteria for Stamping Facilities

Qualification requires a regular and substantial need. The Stamp Office considers applications from solicitors handling conveyancing, financial institutions processing securities, corporate entities with frequent stamping needs, and licensed stamp vendors. Applicants must have a proven compliance record with stamp duty laws and no serious violations. The Stamp Office evaluates internal controls for managing payments and document handling. A business must maintain adequate records for all documents stamped under the facility. Form IRSD107 requires the applicant's business registration number, confirming registration under the Business Registration Ordinance (Cap. 310). Previous penalties for late stamping or incorrect declarations may attract additional scrutiny.

IRSD107 Stamping Facilities Application Process

Applying with Form IRSD107 involves several steps. First, complete the form accurately, detailing document types and estimated transaction volumes. Submit the completed form to the Stamp Office at the Inland Revenue Department. The office reviews the application for suitability, which may involve a meeting or requests for more information, such as sample documents or proof of internal procedures. Approval arrives as a letter of authorisation specifying the facility's scope, conditions, and limitations. The applicant must then comply with ongoing reporting, like submitting periodic summaries of stamped documents. Breaching the terms can result in revocation.

Hong Kong Endorsement Facilities Form Content

Form IRSD107 requires specific information. The form captures:

• Applicant details: Name, address, business registration number, and contact information.
• Authorised representatives: Names and signatures of individuals authorised to operate the facility.
• Document types: Descriptions of instruments to be stamped, such as share transfers or property documents.
• Facility scope: Whether the request is for stamping only, endorsement only, or both.
• Estimated volume: Expected number of documents per month or year.
• Operational procedures: How the applicant will account for stamps, manage payments, and maintain records.
• Declaration: A statement confirming information accuracy and acceptance of the Stamp Office's terms.

Complete every section. Supporting documents, like a sample endorsement stamp or a business registration certificate copy, may be required. A director, partner, or authorised officer must sign the form.

Apply for Stamping Facilities IRSD107 Submission

Submit Form IRSD107 to the Stamp Office at the Inland Revenue Department in person or by post. The Stamp Office may accept electronic submissions through the e-Stamping system for existing account holders, but new facility applications typically require paper submission. Include any supporting documents specified in the guidelines. There is no statutory fee for Form IRSD107, but applicable stamp duty on documents stamped under the facility must be paid. The Stamp Office processes applications within a reasonable timeframe, though complex cases take longer. Submit the form well in advance of when the facility is needed. The office may contact you for clarification or to arrange an interview before deciding.

IRD Stamping Endorsement Application Requirements

Success depends on meeting certain conditions. You must demonstrate financial stability and the ability to pay stamp duty on time. A deposit or guarantee may be required to cover potential liabilities. You must also agree to the Stamp Office's record-keeping guidelines, maintaining a register of all stamped documents with descriptions, dates, and duty amounts. The Stamp Office may conduct inspections to verify compliance. For law firms or financial institutions, the facility may be limited to specific transactions like share transfers or conveyances. Endorsement facilities require a clear, approved endorsement stamp identifying the entity. Report any changes in business operations or authorised representatives to the Stamp Office promptly.

Procedure for Renewing or Modifying Facilities

Facility holders may need to renew or modify their arrangements. While Form IRSD107 is for initial applications, renewals may involve a simplified process, like a letter confirming unchanged circumstances. Expanding the facility's scope to include new document types requires a new Form IRSD107 application. The Stamp Office evaluates changes based on compliance history and current operational capacity. Notify the Stamp Office if you cease business or wish to surrender the facility. Failure to do so can create liabilities or penalties. The Stamp Office reserves the right to review and revoke facilities at any time for breaches of authorisation. Maintain accurate records and respond promptly to any queries to retain the facility.