Article 14 — Quick refund system

1. Member States may establish a system to allow certified financial intermediaries that maintain the investment account of a registered owner to request a quick refund of the excess withholding tax on behalf of the registered owner in accordance with Article 11 if the information referred to in paragraph 3 of this Article is provided within the second month following the month of the payment date of the dividend or interest. 2. Without prejudice to paragraph 4 of this Article, Member States shall process a refund request made in accordance with paragraph 1 of this Article within 60 calendar days after the end of the period to request the quick refund. Member States shall apply interest in accordance with Article 16 on the amount of such a refund for each day of delay after the 60th day. 3. A certified financial intermediary requesting a quick refund shall provide the following information to the relevant Member State: (a) the identification of the registered owner as referred to in heading B of Annex II; (b) the identification of the dividend or interest payment as referred to in headings D and G of Annex II, where applicable; (c) the basis of the applicable withholding tax rate and the total amount of excess withholding tax to be refunded; (d) the tax residence of the registered owner, including the eTRC verification code, where applicable, or the information contained in the documentation referred to in Article 12(2), point (b), where applicable; (e) the registered owner’s declaration in accordance with Article 12. 4. Member States may reject a refund request made under this Article in any of the following cases: (a) the requirements provided for in paragraph 1 or 3 of this Article or in Article 11 or 12 are not met; (b) the information necessary to reconstruct the relevant securities payment chain and referred to in Annex II has not been completely and correctly provided at the end of the period set out in paragraph 1 of this Article; (c) the Member State, based on risk assessment criteria, initiates any verification procedure or tax audit according to its national rules with respect to the refund request. 5. A rejection of a refund request pursuant to paragraph 4 shall not preclude the application of late payment interest in accordance with paragraph 2 in the event that the refund is ultimately granted and the circumstances set out in paragraph 4, points (a) or (b), do not exist. 6. A rejection as referred to in paragraph 4, points (a) and (b), shall be communicated to the requesting certified financial intermediary and shall not preclude a request for a refund under the standard refund system established under national rules. 7. The Commission shall adopt implementing acts laying down standard computerised forms, including the linguistic arrangements, and requirements for the communication channels for the submission of requests under this Article. Those implementing acts shall be adopted in accordance with the examination procedure referred to in Article 21.