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All news PQS Updates 1042-S IDES IRIS IRS CRS Deadlines & Reminders QI 1042 1099 FATCA CARF IRS Reporting & E-Filing Swiss Regulatory Updates U.S. Regulations Certifications & Internal Controls Systems & Portals Compliance & Risk Management
18.07.2022 13'

FIRE System Update

With this extensive information we would like to inform about the changes made to Form 4419, the updates to the FIRE system, the new IR-TCC system introduced by the IRS, and the proposed and possible solutions to the challenges resulting from the changes.
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14.07.2022 3'

FATCA Group Request Reminder

Swiss financial institutions are advised to ensure the accuracy of their FATCA reporting from 2014 to 2021, prepare required information and documents promptly for submission to the SFTA, and test information exchange procedures ahead of potential group requests, as the USA can now make such requests under the Swiss-US FATCA IGA, with a strict ten-day deadline for compliance.
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01.06.2022 3'

CRS Reporting Reminder 2022

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 2021.
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28.01.2022 15'

Reporting Reminder 2022

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, PQS will be able to support FIs with preparing and uploading FATCA, QI and CRS reportable data to the respective authorities.
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22.11.2021 7'

Revised Forms W-8

We would like to inform all QIs about the recently published new revisions of the Forms W-8. QIs and FFIs documenting account holders with Forms W-8 are expected to request the new revisions within the next months. This information was updated on November 22, 2021.
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14.09.2021 2'

Information for Users of the FIRE System

We would like to inform all QIs that the IRS scheduled to deploy a new application process for new users of the Filing Information Returns Electronically (FIRE) system. Existing FIRE users are asked to review their current filing data in the FIRE system before September 15, 2021, and to transition to the new process in late 2022.
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22.06.2021 3'

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.
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20.01.2021 14'

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.
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10.06.2020 3'

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.
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19.05.2020 2'

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.
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29.01.2020 11'

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.
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15.03.2019 2'

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.
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