Automatic exchange of information (AEoI)

The Common Reporting Standard (“CRS”) regime has come into effect in most participating jurisdictions.
Insurance companies must report the following information with respect to each account that is within the scope of the law: 

• Reportable person's name, address, country or countries of tax residence,
• Reportable person's tax identification numbers (TINs) and, in the case of an individual, the person's date and place of birth,
• The same information as above with respect to each reportable Controlling Person of a Passive Non-Financial Entity (Passive NFE), the role of the Controlling Person, as well as the details of the Passive NFE,
• Account number,
• Account balance or value at the relevant year-end or upon account closure, and
• Other amounts paid during the year reported, depending on the type of account.

The forms to be used for collecting information and obtain Tax Self-certification from clients can be downloaded directly from our website: www.swisslife-global.com/download/private/downloads.html

• The form Tax Reporting Self-Certification - Natural Person for all physical policyholders and all natural persons exercising control in legal entities that are themselves policyholders  
• The form Tax Reporting Self-Certification - Entity for all legal entities acting as policyholders of any contracts 
• The form Tax Compliance Confirmation for all policyholders, with no distinction between natural persons and legal entities 

The first reporting activity for Luxembourg insurance companies will be due by 30 June 2017 and for Liechtenstein insurance companies by 31 July 2017 (date has been extended) including: 

• pre-existing individual accounts with an account balance or value (after aggregation) > $1m
• all new 2016 individual accounts
• payments made to all accountholders during the financial year 2016