News

CRS Reporting Reminder 2021

Since the deadline for filing the CRS reporting is approaching, we would like to inform all Swiss financial institutions on their CRS reporting requirements and some specific updates relevant for the tax year 2020.

Reminder: FATCA Certification and selecting the periodic review year in the QI Certification

Please be reminded that the FATCA Certification is due on July 1, 2021. Also, QIs with the certification period 2018-2020 must select the periodic review year in the QI/WP/WT system before July 1, 2021.

New Information about the QI and FATCA Responsible Officer Certifications

We would like to inform regarding the upcoming QI and FATCA Responsible Officer Certifications.

Extension of the QI Responsible Officer Certification Deadlines

The IRS extended the deadlines to certify the 2018-2020 QI certification period to December 1, 2021, and March 1, 2022, respectively.

Revision of the Swiss AEOI Act and the Swiss AEOI Ordinance

We would like to remind Swiss FIs that on January 1, 2021 the new revisions of the Swiss AEOI Act and the Swiss AEOI Ordinance entered into force.

Reporting Reminder 2021

We would like to inform all Swiss financial institutions on their reporting requirements under CRS, FATCA and QI. The QI Reporting Requirements outlined in this newsletter will also be applicable to non-Swiss QIs. For the non-Swiss CRS and FATCA reporting requirements, the respective local implementation guidance must be consulted. As in previous years, PEQ will be able to support FIs with preparing and uploading FATCA, QI and CRS reportable data to the respective authorities.

Upcoming revision of the Swiss AEOI legislation

Before a well-deserved Christmas break, we would like to inform all FIs on the upcoming revision of the Swiss AEOI legislation and their impact on the implementation of the AEOI requirements.

QI and FATCA Certification Reminder 2020

Important Update on Swiss FFIs

Important Update on Swiss FFIs subject to FATCA group request being required to resubmit the original, aggregated FATCA reporting if submitted on paper forms 8966.

Regulatory requirements under QI and FATCA

We would like to inform all QIs and FFIs on recent updates regarding regulatory requirements under QI and FATCA.

CRS Reporting Reminder 2020

Since the deadline for filing the CRS reporting is approaching, we would like to inform all Swiss financial institutions on their CRS reporting requirements and some specific updates relevant for the tax year 2019.

FATCA group requests

The Swiss Federal Tax Authority (SFTA) notified Swiss financial institutions about FATCA group requests, with the first requests expected after September 2020; institutions must meet obligations by June 15, 2020.

Updated deadlines for filing the FATCA, QI and CRS reporting

We would like to inform all Swiss financial institutions on the updated deadlines for filing the FATCA, QI and CRS reporting.

Reporting Reminder 2020

The QI Reporting Requirements outlined in this newsletter will also be applicable to non-Swiss QIs. For CRS and FATCA reporting requirements, local implementation guidance must be consulted. As in previous years, PQS will be able to support FIs with preparing and uploading FATCA, QI and CRS reportable data to the respective authorities.

Important Updates and Dates for the Implementation of the Regulatory Requirements for 2020

Before the year 2019 ends with a well-deserved holiday break, we would like to inform all QIs and FFIs on recent updates regarding submitted and upcoming certifications, as well as other recent and upcoming regulatory requirements under QI and FATCA.

U.S. Senate Approval of Amendment to the DTA - FATCA Group Requests

On July 17, 2019, the U.S. Senate approved the 2009 protocol to amend the double taxation agreement between Switzerland and the USA.

Update of Information on the QI and FATCA Portals

During the last few months we have noticed that several QIs have had issues when logging in to the QI/WP/WT application and account management system and/or the FIRE Production System.

Updated CRS Guidance

The Swiss FTA published a new AEOI Guideline in January 2019, with significant changes including the treatment of professionally managed investment entities in countries without AEOI agreements, clarification of the term "financial assets," "non-financial group" conditions, guidance on currency conversion, and requirements for trustee-documented trusts.

Reporting Reminder 2019

We would like to inform all Swiss financial institutions on their reporting requirements under CRS, FATCA and QI.

Important Updates and Dates for the Implementation of the Regulatory Requirements for 2019

We would like to inform all QIs and FFIs about important updates and deadlines regarding the implementation of the regulatory requirements for the upcoming year 2019.

FATCA Responsible Officer Certification FAQ

QI Responsible Officer Certification FAQ

Certification of Internal Controls

Reporting Reminder 2018

Update of the Customer Admission Documentation Under FATCA and QI, Lob Factsheet of the SBA

Extension of the Deadline for the Extension of the FFI Agreement, Upcoming Certification of the QI and FATCA Responsible Officers and QI and FATCA Compliance Review

Updated W-8 Forms and Associated Instructions

Extension of the FFO Agreement and a Second Version of the Common Reporting Standard for the Automatic Exchange of Information on Financial Accounts

Extension of Deadlines for Extension of Qi, Wp and Wt Agreements

Reminder: Extension of the QI Agreement