Information from the Swiss Federal Tax Administration (FTA) concerning group requests from the United States

The Swiss Federal Tax Administration (FTA) has recently published guidelines for Swiss FFIs regarding the delivery of information to the FTA in the event of a group request from the United States (US) under Article 5 of the Swiss Intergovernmental Agreement (IGA).

Once the FTA receives a request from the US, the FFIs affected will have 10 days to provide the respective account information. Once the FTA receives the information from the FFI, the FTA will review the information, issue a final decision and notify the persons affected anonymously by means of a notice in the Federal Gazette and on its Internet site.

In response to the request from the FTA, the FFI will need to provide an information package including an SEI-XML file, a PDF documentation file and the FATCA XML file delivered by the authority. For each account affected, the PDF documentation file should contain the following documents:

- The balance of the account on 30 June 2014 (for pre-existing accounts)
- The balance of the account on 31 December (or on date of closure if after 30 June 2014)
- A document showing the contracting party (such as an account opening form, etc.)
- If the specified US person or non-participating FFI is not the contracting party, a document with details of this person (e.g., self-certification, Form A, Form T, etc.)
- If the account holder is a Passive NFFE, a document identifying the person(s) controlling the Passive NFFE (e.g., self-certification form, Form A, Form T, etc.)
- Document showing the US indicium that resulted in the aggregate reporting (e.g., account opening documentation, passport, greencard, standing instructions, etc.). If no documentation is available or if an additional explanation is needed, the FFI should enter a comment in the SEI-XML file.
- If the account holder is a Passive NFFE, a document showing why the entity is considered a Passive NFFE (e.g., self-certification form, Form W-8BEN-E, etc.)
- If the account holder is a non-participating FFI, a document showing why the account holder is classified as a non-participating FFI (e.g., self-certification form, etc.) and that a foreign reportable amount was paid to the non-participating FFI during the year

For more information, including the technical specifications for the SEI-XML file and the FATCA-XML file, please visit the FTA website (http://www.estv.admin.ch/intsteuerrecht/themen/01458/01648/index.html?lang=en) and navigate to International fiscal law -> Administrative assistance and judicial assistance -> Administrative assistance according to the FATCA.