The purpose of submitting the futility report is to combat tax evasion.

As a credit institution, you have 3 months from the start of the business relationship with the contracting person to record the identification number.
If you were unable to record the identification number, you must submit the following information to the Federal Central Tax Office (BZSt):

• Personal details and
• details of the address

of each authorized signatory and beneficial owner.

You are obliged to provide the above-mentioned information in order to maintain the accuracy of your accounts. Truth in accounts applies to every person who wishes to hold an account, keep valuables in safekeeping or provide a safe deposit box.

You submit the declaration of futility via an electronic reporting procedure provided by the BZSt.

Note
If you hold a credit account and the credit is only for the

• financing of private consumer goods and
• the credit limit does not exceed the amount of EUR 12,000,

you do not need to determine the identification number.