Documents AEI – Automatic Exchange of Information

AEI – Automatic Exchange of Information

Information relating to the OECD's Automatic Exchange of Information in Tax Matters.

The automatic exchange of information (AEI) is a standard which defines how the tax authorities in the participating countries share information on foreign reportable accounts (e.g. life insurance) held by taxpayers. The AEI standard was developed and issued by the Organization for Economic Cooperation and Development (OECD).

The AEI standard is being introduced globally and to date more than 100 countries have committed to its implementation. As part of the introduction of the AEI standard, the participating countries will sign agreements and adopt national laws. The first exchange of data will take place in 2017. Other countries will follow.

The AEI standard requires financial institutions (e.g. insurance companies) in participating countries to identify all clients who are resident in another participating country. In certain configurations, this also applies to the controlling persons of Entities. Once a reportable person has been identified, the financial institution reports the relevant information annually to the local tax authorities, which then forward this data to the tax authorities in the country of residence of the reportable person.

The following information must be reported by the financial institutions and is shared with the tax authorities in the client's country of domicile:

  • Identification information (e.g. the name of the natural person or Entity, address, country of domicile, tax identification number, or date of birth);
  • Account information (e.g. the name of the financial institution and insurance number); and
  • Financial information (e.g. the insurable value at the end of a calendar year and the total gross proceeds from the sale or redemption of financial assets)

The AEI standard requires financial institutions to extend their existing procedures for the identification and documentation of existing and new clients. This applies to both natural persons and Entities (e.g. companies, trusts, etc.). Based on the increased duty of due diligence, clients must supply their bank with certain information and documents which define their status under AEI.

For some time now, Credit Suisse Life & Pensions AG has pursued a strategy focusing on tax compliance and it supports all measures intended to ensure that clients' incoming funds are taxed. Credit Suisse Life & Pensions AG therefore endorses the AEI as a global standard. The insurance company will contact clients immediately if their business relationship with Credit Suisse Life & Pensions AG is relevant under the AEI.

Self-Certification for Individuals

  • Credit Suisse Life & Pensions AG
    DE | EN | FR
  • Credit Suisse Life & Pensions AG, Italian Branch
    IT
  • Appendix: Summary Descriptions of Select Defined Terms
    DE | EN | FR | IT

Self-Certification for Entities

  • Credit Suisse Life & Pensions AG
    DE | EN | FR
  • Credit Suisse Life & Pensions AG, Italian Branch
    IT
  • Appendix 1: Controlling Persons
    DE | EN | FR | IT
  • Appendix 2: Summary Descriptions of Select Defined Terms
    DE | EN | FR | IT
Topic Content Documents
Entity Classification Guide and Glossary

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 Life & Pensions AG 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.

Entity Classification Guide (PDF) DE | EN | FR | IT

Glossary (PDF) DE | EN | FR | IT

Further Information and Q&A

Credit Suisse Life & Pensions AG and its employees cannot provide clients with legal or tax advice.

Answers to Frequently Asked Questions can be found in the following documents.

Q&A (PDF)

EN | DE | FR | IT