A life company must take which action when a prospective unit-linked investor does not provide a tax reference number on the application form?

• A. obtain a disclaimer signed by the applicant.
• B. request in writing that the tax reference number is submitted within 14 working days.
• C. ensure that the tax reference number is provided in the following year's return of benefits payments to the Revenue.
• D. include in its return of benefits payments to the Revenue that the tax reference number was not provided for this investor.

Answer: (D)

When dealing with a prospective unit-linked investor who does not supply a tax reference number, the emphasis is on regulatory reporting to Revenue. The appropriate action is for the life company to note in its return of benefits payments to Revenue that the tax reference number was not provided for this investor. This directly satisfies the official reporting requirement, signaling to Revenue that a TRN is missing so they can address it or apply the appropriate tax treatment. It also keeps the insurer compliant with transparent, auditable records.

Other options aren't aligned with this regulatory reporting process. Attempting to obtain a disclaimer isn’t the standard administrative step, requesting a TRN within a fixed 14-day window isn’t a codified requirement, and hoping to provide the TRN in a future year’s return would delay proper tax reporting and create inconsistencies in the records.