In order for a pension scheme to be registered with HMRC, it must provide any information which HMRC reasonably requires. This information is requested in the application for registration. HMRC can also issue an information notice to request further information. HMRC must register the scheme unless the application contains incorrect information, a false declaration or the scheme administrator is not a fit and proper person.
HMRC may only withdraw registration from a pension scheme in limited circumstances, which are set out in statute.
With effect from 6 April 2018, legislation will widen the circumstances in which HMRC may refuse to register a pension scheme to include where the scheme is a Master Trust pension scheme and has not been authorised by the Pensions Regulator, or where a sponsoring employer of an occupational pension scheme is a dormant company.
Changes will also be made to the circumstances when HMRC can de-register a pension scheme, similar to those changes being made to the circumstances when HMRC can refuse to register a pension scheme.
This measure will affect pension scheme administrators, trustees of existing registered pension schemes and pension schemes.