AEOI - Q&A and Definitions

Information for clients

Information required under art. 14 of the Swiss Federal Act on the International Automatic Exchange of Information in Tax Matters (AEOI Act)

Backed Assets GmbH (Backed) is a reporting Swiss financial institution in accordance with the AEOI Act.

Under the AEOI regime, Switzerland exchanges data with countries with which a reciprocal agreement is in place (Reportable Jurisdictions). You can see which countries have signed an AEOI agreement with Switzerland here:

How does AEOI work?

As a reporting Swiss financial institution, Backed must determine the tax residence(s) of all its clients.

Every year Backed must report to the Swiss Federal Tax Administration (FTA) certain information regarding all account holders who are tax resident in a Reportable Jurisdiction.

The FTA then sends the information reported to the tax authorities of the clients’ country of tax residence(s).

How might AEOI affect you?

During the account opening process, you will be asked to confirm your jurisdiction(s) of tax residence and your Taxpayer Identification Number(s) (TIN).

What will Backed report to the FTA?

The reportable information includes:

  • the account holder’s personal data (name, address, country of tax residence, date of birth, TIN);

  • account information (account number, aggregate balance or value of the account by 31st December, investment income including total gross amount of interest, dividends or other income and total gross proceeds from sales or redemptions).

In certain cases, Backed must also report the Controlling Persons of entity account holder.

If an entity classifies as Financial Institution, the entity itself may be responsible to report relevant account holders to its local tax authority.

For what purpose will this information be used?

The FTA will send the information received from Backed to the tax authority in the relevant Reportable Jurisdiction(s). In principle, the information exchanged may only be shared with the tax authorities of the relevant country/ies of tax residence and may only be used for tax purposes. The information must be treated as confidential.

What are your rights?

Under the AEOI Act and the Swiss Federal Act on Data Protection (FADP), you have the following rights:

Vis-à-vis Backed:

  • You are entitled to the full extent of legal protection offered by the FADP. In particular, you have the right to request what information Backed has collected about you and will be reported to the FTA.

  • You are entitled to request that incorrect data in Backed’s systems be corrected.

Vis-à-vis FTA:

  • You are entitled to access information.

  • You are entitled to request that incorrect data resulting from errors in the exchange process are corrected.

  • If the exchange of information were to result in disadvantages for you that are not permissible due to a lack of constitutional guarantees, your rights are set out in art. 25a of the Swiss Federal Act on Administrative Procedure.

You do not have the right to access FTA records. You do not have the right to block the disclosure of personal details to FTA.

If you have any concerns about your tax obligations, please consult your legal or tax advisors.


For additional information, please refer to the FTA’s publications on the subject:

(available in German, French and Italian)

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