Service Finder
Submit reports on financial account data in accordance with the Common Reporting Standard (CRS)
Service Description
The Common Reporting Standard (CRS) obliges financial institutions (e.g. banks or insurance companies) to support the fight against tax evasion. To achieve this, financial institutions must determine in which country their customers are liable to pay tax. The Federal Central Tax Office (BZSt) oversees this process by, among other things, transmitting the data to the participating countries.
Over 90 countries are now involved in the exchange procedure.
In particular, the following financial account information is exchanged:
- Name
- Address
- Country of residence
- Tax identification number
- Date of birth
- Place of birth
- Account number
- Name and identification number of the financial institution
- Account balance
- Interest / dividends / other income
Financial institutions must comply with certain due diligence obligations to identify reportable financial accounts. This also includes obtaining self-disclosures. By obtaining a self-certification, financial institutions aim to determine the tax residency of their customers. Account holders must complete and sign the self-certification form and send it to their financial institution.
The financial institutions report the accounts identified as reportable to the BZSt each year in electronic form. An online form or a mass data interface are available for the transmission of the data. The transmission can also be carried out by a service provider.
Process flow
The self-certification of tax residence is sent by financial institutions (e.g. banks or insurance companies).
- Financial institutions subject to reporting requirements must check their financial account data for the tax residency of account holders or controlling persons in a reporting country according to defined criteria.
- A self-certification can be obtained in particular when opening a new account.
- In the case of existing accounts, the reporting obligation can also be determined on the basis of circumstantial evidence. This can be, for example, a current postal or home address, a telephone number or a currently valid power of attorney in favor of a person with an address in a reporting country.
- The financial account data determined in accordance with the due diligence obligations must be transmitted annually in electronic form to the Federal Central Tax Office (BZSt).
- Prior to the first transmission, the data sender (financial institution or commissioned service provider) must register with the CRS department of the BZSt.
- The reports are submitted via the BZSt online portal (BOP) or the mass data interface (ELMA). This requires a certificate issued by the BZSt (BOP and ELMA) or a certificate issued by the Elster procedure (only possible for BOP). The exact procedure is described in manuals and videos on the BZSt website.
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For each transmission, the reporting financial institution or the reporting service provider receives technical feedback on the status and result of the processing. If data has been rejected, the errors must be rectified and the data resubmitted.
Requirements
Reportable accounts include accounts of:
- natural persons or
- entities (including trusts and foundations)
- that are resident in another participating state under the tax law of that state
Accounts of passive legal entities are also reportable accounts if a controlling natural person behind them is resident in another participating state under the tax law of that state.
Which documents are required?
none
What are the fees?
none
What deadlines do I have to pay attention to?
The notification is made annually by July 31 of each calendar year for the previous year.
Processing duration
The data transmitters receive technical feedback for their CRS message. As a rule, this takes a maximum of 2 days. In the event of technical maintenance work outside the submission deadline, processing may take 1-2 weeks.
Legal basis
- § Section 2 Act on the Multilateral Competent Authority Agreement (MCAA) of October 29, 2014
- § Section 5 (1) no. 5b of the Financial Administration Act
- Act on the Implementation of Mutual Administrative Assistance in Tax Matters between the Member States of the European Union (EU Administrative Assistance Act - EUAHiG)
- Act on the Automatic Exchange of Information on Financial Accounts in Tax Matters (Financial Accounts Information Exchange Act - FKAustG)
Applications / forms
none
Appeal
Form: yes
Online procedure possible: yes
Written form required: no
Personal appearance required: no
Further Information
- Further information on the Common Reporting Standard - CRS for account holders on the website of the Federal Central Tax Office (BZSt)
- Further information on the Common Reporting Standard - CRS procedure on the website of the Federal Central Tax Office (BZSt)
- Further information on the participating countries can be found on the website of the Federal Central Tax Office (BZSt)
- Standard for the automatic exchange of financial information in tax matters on the website of the Federal Ministry of Finance (BMF)
Author
The text was automatically translated based on the German content.
- Reports in accordance with the Common Reporting Standard (CRS) Receipt
Remark: Display of performance in the source portal
Technically approved by
Federal Ministry of Finance (BMF)
Professionally released on
19.11.2020
Source: Zuständigkeitsfinder Thüringen (Linie6PLus)
Competent Authority
Bundeszentralamt für Steuern (BZSt)
Address
53225 Bonn, Stadt
Remark: Head office Bonn-Beuel
Link to the directions:
https://www.bzst.de/DE/DasBZSt/Dienstsitze/_docs/anfahrt_ds_bonn.html
Opening times
Monday: 09:00 - 16:00
Tuesday: 09:00 - 16:00
Wednesday: 09:00 - 16:00
Thursday: 09:00 - 16:00
Friday: 09:00 - 16:00
Further Authorities
Address
53225 Bonn, Stadt
