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Automatic Exchange of Information (AEI)

What is the Automatic Exchange of Information?

The AEI is a worldwide initiative led by Organization for Economic Co-operation and Development (OECD) to combat tax evasion. Under AEI, banks are required to identify and classify their clients as well as report to its local tax authorities on the income and assets of such clients where required by the rules – essentially in relation to clients that are banking offshore*. The local tax authorities will then share this information with the tax authority of the country, where the client is tax resident.

The below graph shows the exchange of information under the AEI regime:

The exchange of information under the AEI regime

* clients that are tax resident outside the country where their bank is located

What are the implications of the AEI for bank clients?

Provide and/or verify information

The AEI standard requires banks to identify and document AEI status (i.e. tax residency for individual clients and tax residency as well as entity type for entity clients) for both new and existing clients.

In this respect, we will in the first instance use information already held, however we may ask our clients to provide and verify the following identification information:

  • Name 
  • Address 
  • Place of birth* (for individual)
  • Date of birth*  (for individual)
  • Country(ies) of tax residence 
  • Taxpayer identification number(s)*
  • Entity type (for entities)

* this does not apply in all countries and is subject to local law requirements

Reporting

Once a client is determined to be an AEI Reportable Person, in principle bank needs to report such a client annually to its local tax authorities. Subsequently, local tax authority will exchange this information with the tax authority of the country, where the client is tax resident. The information reported to tax authorities includes:

  • Identification information (e.g. name of individual or entity client, address, tax residence, TIN)
  • Account information (e.g. name of financial institution, account number)
  • Financial information (e.g. account balance, total amounts of dividends or interest credited)

 

Switzerland

Self-Certification for Individuals

Credit Suisse AG DE EN FR IT ES
Credit Suisse (Switzerland) Ltd. DE EN FR IT ES
Neue Aargauer Bank AG DE EN      

Self-Certification for Entities

Credit Suisse AG  DE EN FR IT ES
Credit Suisse (Switzerland) Ltd. DE EN FR IT ES
Neue Aargauer Bank AG DE EN      

Self-Certification for Entities (pre-filled)

  CS format OECD format
Credit Suisse (Switzerland) Ltd. EN EN
Credit Suisse AG EN EN
Neue Aargauer Bank AG EN  
Credit Suisse Securities (Europe) Ltd.   EN

Self-Certification for Controlling Persons

Credit Suisse AG  DE EN FR IT ES
Credit Suisse (Switzerland) Ltd. DE EN FR IT ES
Neue Aargauer Bank AG DE EN      

How to complete Self-Certification for Individuals (one-pager)

Credit Suisse AG, Credit Suisse (Switzerland) Ltd. DE EN FR IT ES
Neue Aargauer Bank AG DE EN      

How to complete Self-Certification for Entities (one-pager)

Credit Suisse AG, Credit Suisse (Switzerland) Ltd. DE EN FR IT ES
Neue Aargauer Bank AG DE EN      

Locations other than Switzerland

Please get in touch with your relationship manager or contact center if you require a Self-Certification form.

Participating and Reportable Jurisdictions

To date, more than 100 Jurisdictions have committed to participate in the AEI regime. The current list of countries participating in the AEI, alongside the date when they will start exchanging information, is available on the OECD webiste.

The AEI Standard has no direct legal force but needs to be implemented into domestic law by each jurisdiction. The AEI obligations become effective when the jurisdiction in which a financial institution is located adopts the AEI by implementing a domestic AEI law and enters into Multilateral or Bilateral agreements with other jurisdictions countries to exchange the AEI information.

Please see below list of countries where Credit Suisse operates (i.e. maintains financial accounts) together with information to which countries these locations send AEI information.

Australia

Please use this link for list of countries, which exchange AEI information with Australia.

Austria

Please use this link for list of countries, which exchange AEI information with Austria.

The Bahamas

Please use this link for list of countries, which exchange AEI information with the Bahamas.

Brazil

Please use this link for list of countries, which exchange AEI information with Brazil.

Guernsley

Please use this link for list of countries, which exchange AEI information with Guernsley.

Hong Kong

Please use this link for list of countries, which exchange AEI information with Hong Kong.

India

Please use this link for list of countries, which exchange AEI information with India.

Italy

Please use this link for list of countries, which exchange AEI information with Italy.

Japan

Please use this link for list of countries, which exchange AEI information with Japan.

Luxemborg

Please use this link for list of countries, which exchange AEI information with Luxemborg.

Mexico

Please use this link for list of countries, which exchange AEI information with Mexico.

Singapore

Please use this link for list of countries, which exchange AEI information with Singapore.

Switzerland

Please use this link for list of countries, which exchange AEI information with Switzerland.

United Kingdom

Please use this link for list of countries, which exchange AEI information with United Kingdom.

The Entity Classification Guide is intended to assist in determining an Entity's AEI Classification and in completing the documentation that is required by Credit Suisse for an Entity's AEI Classification. The content of this document is based on currently available AEI information. The document will be amended if and when any further relevant information is released.

This document contains a visualization of the classification process in simplified form. The text descriptions help to accurately determine an Entity's AEI Classification.

Any terms not described in this document are defined in the Glossary.

Further information

While Credit Suisse and its employees cannot provide clients with any legal or tax advice, clients are welcome to contact their relationship managers at any time for further information, or they can visit the OECD page.

Answers to Frequently Asked Questions can be found in the following documents.  Q&A (PDF) 
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