RL360 Offshore Bond - Top Tips

Modified on Fri, 14 Nov at 11:46 AM

These key tips help ensure smooth and timely processing of RL360 Offshore Bond applications and top ups. Following these points will reduce re-requests, prevent delays, and support a clean submission to RL360.

ID Verification

Use full, clear copies of the passport photo page and signature page.
UK passports issued from 2017 must be hand-signed after issue.
Do not crop the Machine Readable Zone (P<GBR) and the row directly underneath.
Passport copies should be the same size as the original (can be slightly larger, but never smaller).
Certification must be carried out by an individual and can be wet or electronic. No certification stickers.
A certified copy of a certified copy cannot be accepted.
Photographic driving licenses can be used for ID, but the same document cannot be used to evidence address.

Address Verification

Provide the most recent document available, normally no older than 3-6 months.
Acceptable documents include bank statements, utility or council tax bills, mortgage statements, government-issued letters, benefit or tax assessment documents, or proof of ownership or rental of the residential address.
Address documents must be certified correctly.

NINO / TIN Requirements

Ensure National Insurance Numbers or Tax Identification Numbers are included for all applicants, trustees and any relevant beneficiaries.
Missing details will trigger an AEOI self-certification request.

Source of Funds and Source of Wealth

Complete all income, occupation and employer details for each applicant or trustee. Avoid generic entries such as “savings” or “investments”.
Provide clear explanations such as “Savings accumulated from salary over time” or “Sale of main residence”.
If multiple bank accounts will fund the policy, provide full details and explain why.

Trust Cases

Confirm whether the trust is registered with TRS or HMRC.
All trustees are considered Controlling Persons and require occupation, income and NINO/TIN details.
If the trust deed does not include full settlor, beneficiary or protector information, provide this separately.
Solicitor trustees can be validated via the Law Society website.
Electronic signatures are not permitted on RL360 trust deeds.

Adviser Declaration

The adviser declaration must be completed and signed by the adviser for all applications.

Discounted Gift Trusts

Encourage the settlor to contact their GP surgery to help speed up GP report completion.
Avoid selecting the option to see the GP report before submission, as this delays the process.
Ensure health questionnaire information is accurate (DOB, clinic address etc).
Some surgeries require payment before issuing the report.
RL360 will chase the surgery after approximately six weeks if there is no response.

Electronic Signatures

Accepted for most instructions when signed using DocuSign or Adobe Sign.
DocuSign requires a Certificate of Completion.
Adobe Sign requires the Final Audit Report and the Transaction ID on the signed PDF.
Electronic signatures are not permitted for surrenders, withdrawals, claims or trust deeds.

Payments and Bank Details

Initial premiums and top ups must be sent directly to RL360’s GBP Premium Account, not to Hubwise.
Payments must come from the account listed in the Source of Funds section.
Third-party payments may trigger AML referrals.
If a withdrawal will be paid to a new bank account, include a recent bank statement showing account ownership.

Regular Withdrawals

Do not complete withdrawal instructions within the Hubwise Portal. Regular withdrawals are set up manually by Hubwise.
Fixed-amount withdrawals do not automatically increase following a top up.
Percentage withdrawals increase automatically.

Sub-Policies

State the required number of sub-policies if the client has a preference.
If not specified, RL360 will issue the maximum of 100.

Correspondence Address

RL360 will use the correspondence address for all communications.
If no correspondence address is provided, all documentation will be sent to the first applicant’s residential address.
Check this carefully in trust cases or where advisers prefer documentation to go directly to the client.