Article 89-2 (Submission of Tax-Advantaged Savings Data, etc.)

Financial companies, etc. handling savings falling under any of the following subparagraphs (hereinafter referred to as "tax-advantaged savings handling institutions" in this Article) shall immediately notify the institutions designated by Presidential Decree (hereinafter referred to as "tax-advantaged savings data concentration institutions" in this Article) through telecommunications media such as computers, of the name and resident registration number of each saver for each type of savings, and changes in the conclusion, termination, transfer of rights, and other contract details of the savings contract [including the payment amount of insurance proceeds, mutual aid proceeds, cancellation refunds, and interim withdrawals (hereinafter referred to as "insurance proceeds, etc." in this Article) for savings insurance under subparagraph 2, and the contribution amount, withdrawal amount, and amounts not falling under the respective items of Article 20-3(1)(2) of the Income Tax Act for pension accounts under subparagraph 4; hereinafter referred to as "tax-advantaged savings data"]. <Amended by Act No. 7454, May 10, 2003; Act No. 7021, Dec. 30, 2003; Act No. 7770, Dec. 31, 2005; Act No. 9270, Dec. 26, 2008; Act No. 9924, Jan. 1, 2010; Act No. 10072, Jan. 1, 2011; Act No. 11604, Jan. 1, 2013; Act No. 12944, Dec. 23, 2014; Act No. 13604, Dec. 15, 2015; Act No. 14467, Dec. 20, 2016; Act No. 16147, Dec. 24, 2018; Act No. 16844, Dec. 31, 2019; Act No. 17725, Dec. 28, 2021; Act No. 18615, Dec. 31, 2022; Act No. 19338, Apr. 11, 2023; Act No. 19822, Dec. 31, 2023; Act No. 20746, Dec. 23, 2025> 1. Securities of collective investment vehicles for specific social infrastructure, securities of investment and finance collective investment vehicles, long-term housing savings, youth preferential housing subscription comprehensive savings, collective investment securities of public offering real estate collective investment vehicles, non-taxable comprehensive savings, contributions, tax-advantaged comprehensive savings, deposits and savings of associations, etc., re-employment savings, high-risk high-return bond investment trusts, long-term collective investment securities savings, overseas stock investment dedicated collective investment securities savings, personal comprehensive asset management accounts, soldier's tomorrow savings accounts, youth type long-term collective investment securities savings, youth hope savings accounts, youth leap accounts, personal investment national bonds, youth future savings accounts, and securities of collective investment vehicles for opportunity development special zones, pursuant to Articles 26-2, 27, 87, 87-7, 88-2, 88-5, 89, 89-3, 91-14 through 91-23, 91-25, and 121-35. 2. Savings insurance under Article 16(1)(9) of the Income Tax Act. 3. Savings for lump-sum creation for farmers and fishermen under the Act on Savings for Lump-Sum Creation for Farmers and Fishermen. 4. Pension accounts under Article 20-3(1)(2) of the Income Tax Act.

The Commissioner of the National Tax Service may request the tax-advantaged savings data concentration institutions to inquire about, inspect, or submit tax-advantaged savings data of savers. <Amended by Act No. 9924, Jan. 1, 2010>

Tax-advantaged savings data concentration institutions shall immediately process and process tax-advantaged savings data notified by tax-advantaged savings handling institutions, establish an information network regarding the contract amount, insurance proceeds, etc. paid, and their details for each type of savings and each saver, and shall comply with requests or inquiries made under paragraph 3 or 4. <Amended by Act No. 9924, Jan. 1, 2010; Act No. 11604, Jan. 1, 2013>