On 4 September 2026, the Swiss Federal Tax Administration (ESTV) published an updated technical guidance for the Automatic Exchange of Information (AIA) under the Common Reporting Standard (CRS). The revision incorporates the new reporting requirements stemming from the CRS revision that entered into force in Switzerland on 1 January 2026. Notably, the guidance specifies the technical requirements for the adoption of the OECD CRS XML Schema Version 3.0, which becomes mandatory for reporting financial institutions from 1 January 2027. Financial institutions must adjust their reporting systems to comply with the new schema and data validation rules.
Key Takeaways
- Mandatory XML Schema 3.0: All reporting financial institutions must use CRS XML Schema 3.0 for data submissions starting 1 January 2027; earlier schema versions will no longer be accepted.
- Enhanced Data Requirements: The revised guidance details new data elements and validation rules aligned with the OECD’s updated CRS, including expanded account holder information and controlling person disclosures.
- Transition Period Ends: The guidance clarifies that the transition period for schema adoption ends on 31 December 2026, urging institutions to complete system upgrades and testing well before the deadline.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement