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Switzerland: Updates to FATCA guidance

Switzerland: Updates to FATCA guidance

Switzerland’s federal tax administration in May 2020 issued the following updates regarding the FATCA regime.

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  • An updated version of the FATCA information delivery user guide providing technical specifications for the transmission of the information that will be requested by the federal tax administration (SEI.XML, FATCA.XML, PDF documentation) in response to any FATCA group requests anticipated to be received from the IRS starting in 2020
  • Updated “frequently asked questions” on group requests
  • A document titled “‘Important business and validation rules for SEI XML and FATCA XML” providing Swiss financial institutions with business and validation rules to be followed to verify the delivered information packages (information packages that do not comply with the requirements will be rejected and require redelivery)
  • An information letter on the FATCA group request procedure sent to Swiss financial institutions requesting transmission of contact details and certain statistical information


Read a May 2020 report [PDF 74 KB] prepared by the KPMG member firm in Switzerland

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

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