Reporting

QI Reporting

Our QI Reporting Services encompass a wide range of offerings, from simply uploading electronic Forms 1042-S as a transmitter on behalf of a QI, WP, or WT, to assisting with all reporting-related activities, including transaction reconciliation and the preparation of all required forms.

Hundreds of Qualified Intermediaries, Withholding Partnerships, and Withholding Trusts worldwide rely on our QI Reporting Services. We offer three distinct levels of QI Reporting Services:

• Transmitter Service:

  • For Form 1042-S, Form 1099 and Form 8809:

    PQS is an IRS-registered Third-Party Transmitter eligible to upload Forms 1042-S, 1099 and 8809 on the IRS IRIS portal. With the transmitter service, we assist intermediaries by formally reviewing their Form 1042-S and 1099 electronic files and transmitting them.

  • For Form 7004, Form 1042 and Form 1120-F:

    PQS is licensed as an Electronic Return Originator, Transmitter and Software Developer with the IRS to create and transmit the Form 7004, Form 1042 incl. attachments (Forms 1042-S of upstream custodians and Schedule Q (Form 1042)) and Form 1120-F incl. attachments (Forms 1042-S of upstream custodians and Schedule Q (Form 1120-F)) in the required XML-format to the IRS via the platform modernized e-File.

• Reporting Service:

  This service involves conducting a form-based reconciliation, creating the Form 1042-S and 1042, and subsequently filing the Forms with the IRS on behalf of the QI. We ensure compliance with all deadlines and technical specifications. This Reporting Service also encompasses the services provided in the Transmitter Service.

• Reconciliation Service:

  Our all-inclusive managed service includes a thorough transaction-based reconciliation throughout the reporting process, typically performed on a quarterly basis. We generate Forms 1042-S and 1042 based on the final reconciliation and manage all amendments. This service includes the benefits of both the Transmitter and Reporting Services.

PQS also assists QI, QDD, WP and WT with responding to IRS notices or ordering account transcripts. For that purpose, Form 2848 must be completed granting power of attorney to our IRS-accredited U.S. tax attorneys.

As an additional service, we provide the preparation and validation of the Form 945 and Form 1099, as required for backup withholding on U.S. reportable amounts.

FATCA Reporting

Many Foreign Financial Institutions (FFI), such as Banks, Brokers, Trustees, Family Offices and Asset Managers are faced with increasing technical and quantitative challenges that the FATCA reporting requirements bring.

Since the inception of FATCA, we have been providing support for the creation and transmission of FATCA Reportings for over 50 FFIs. As an official "Third Party Preparor", PQS can directly file FATCA Reports with the IRS on a FFI's behalf on IDES (for FFI in an IGA Model 2 jurisdiction) or on the platform of the respective IGA Model 1 jurisdiction.

Our FATCA Reporting Services include:

• Performing data quality and plausibility checks to ensure account holders are reported correctly.

• Preparing the XML-files based on a template the FFI provides to us. We prepare XMLs according to the IRS XML-schema or any schema mandated by a Model 1 jurisdiction.

• Encrypting the XML using PQS's certificates, if required.

• Uploading the XML on the IRS' IDES platform or the respective country's portals.

For many banks, we perform the FATCA reporting services by using the existing system infrastructure in place. Especially in combination with PQS' Compliance Services, the benefit PQS can provide in ensuring accurate, complete and formally correct FATCA reporting is invaluable.

Trustees and family offices, often facing reporting requirements from multiple jurisdictions, particularly benefit from PQS as a one-stop-shop service provider.

FATCA Group Requests

Since 2020, the Swiss Federal Tax Administration (SFTA) has been enforcing requests from the U.S. Department of Justice, which can seek information on all accounts reported by Swiss financial institutions in aggregated form since tax year 2014. These group requests entail various technical and content specifications, including specific encryption of the information packages.

We maintain direct communication with the SFTA's responsible team and handle group requests with minimal required input from our clients on an annual basis. Many of our clients entrust us with both their FATCA reporting and FATCA group request reporting, often combined with our CRS reporting services.

CRS and CARF Reporting

The Common Reporting Standard (CRS) and the Crypto-Asset Reporting Framework (CARF) mandate that jurisdictions gather information from their Financial Institutions (FI) and Reporting Crypto-Asset Service Providers (RCASP), and annually exchange this information with other jurisdictions. As CRS continues to evolve, with more jurisdictions joining the exchange of information each year, Reporting Financial Institutions face challenges concerning their annual CRS reporting. While CARF was postponed in Switzerland until 1 January 2027, other jurisdictions have already implemented the framework as of 1 January 2026.

Our CRS and CARF Reporting Services includes:

• Performing data quality and plausibility checks to ensure accurate reporting.

• Preparing Reporting XML files based on a template provided by PQS and completed by the FI or RCASP. We ensure compliance with the OECD-XML schema, taking into account any jurisdiction-specific requirements.

• Reviewing XML files prepared by the client.

• Encrypting the XML data according to jurisdiction's technical specification.

• Uploading the XML files to CRS/CARF reporting platforms in various jurisdictions.

• Submitting Nil Reports where necessary.

• Tracking all FIs and RCASP to ensure complete and punctual annual reporting, particularly beneficial for trustees or family offices.

For many FIs and RCASP, especially banks, we have direct access to system infrastructure, allowing us to handle all aspects of CRS and CARF reporting. Particularly when combined with PQS' Compliance Services, our expertise in ensuring accurate, comprehensive, and formally correct CRS and CARF reporting is invaluable.

As CRS and CARF reporting may involve various platforms based on the domicile jurisdictions of reporting entities, trustees and family offices especially benefit from PQS as a one-stop-shop service provider.

Many of our clients who entrust us with their CRS and CARF reporting also combine it with our FATCA reporting service and FATCA group request service.

Other Reportings

Substitute Forms 1099

With the introduction of the Chapter 4 U.S. Payee Pool, many banks no longer issue or file 1099 forms for their U.S. clients. As many U.S. individuals rely on 1099 Forms to complete their annual tax returns, banks still often receive requests from account holders seeking information on U.S. income paid.

We can create substitute Forms 1099 that do not qualify as official Forms 1099 for this purpose. However, the substitute forms are not filed with the IRS.

U.S. Tax Statements

U.S. account holders require specific information to meet their tax return obligations with the IRS. This includes details such as total U.S. and non-U.S. sourced income, gains or losses from trades involving U.S. and non-U.S. securities, a summary of bank fees debited, and the highest account balance for FBAR filing. PQS can analyze and validate transaction data from the client's account to condense it into a U.S. tax statement using a white-label solution.

Filings for SEC registered investment advisers

Form ADV (incl. Form CRS)

Investment advisers file Form ADV to register with the SEC and/or their respective states. They are required to update this form annually (the "Annual Amendment") and when certain triggering events occur (the "Other-than-Annual Amendments"). Additionally, investment advisers providing services to retail investors must file Form CRS. We assist clients in preparing Form ADV and Form CRS.

Form U4 (Registration) /U5 (Deregistration)

SEC-registered investment advisers must register their representatives, known as "Investment Adviser Representatives," using Form U4 in the appropriate jurisdictions or states. We can provide support for the registration and deregistration of these representatives on behalf of our clients.

Form 13F

Form 13F must be filed quarterly by registered investment advisers who exercise investment discretion over $100 million or more in Section 13(f) securities. Our services include monitoring the filing threshold and handling the quarterly filing process.