What has to be done if possible U.S. tax liability is determined?

If possible U.S. tax liability is determined in your case, you will receive corresponding forms from us with which you can make a declaration regarding your U.S. tax status.

A distinction is made between the following customer groups in the verification and reporting procedure:

  • Customers who certify that they are U.S. taxpayers have to be reported by us annually to the U.S. tax authorities with their tax data.
  • Customers who refute that they are U.S. taxpayers by providing an alternative tax domicile will not be reported.
  • Customers who do not respond to our request have to be treated and reported as U.S. customers.
  • We have to regularly question customers who open an account or custodial account with us after June 30, 2014 as to the existence of U.S. tax liability.

What is reported and when?

Customers who we have identified as U.S. customers will be reported to the U.S. tax authorities on September 30 of each subsequent year. As an exception, reporting for the reporting period 2014 has to take place on March 31, 2015. It will be limited initially to the account or custodial account balance as of the end of the year or, if the account was closed during the year, immediately before closure. Income (broken down by types of investment) will also be reportable in the future. Personal data and the following account and custodial account data have to be reported: