Switzerland: FFI agreement renewal extended | KPMG | GLOBAL

Switzerland: FFI agreement renewal extended to 24 October 2017

Switzerland: FFI agreement renewal extended

The Swiss State Secretariat for International Financial Matters issued a release announcing that the U.S. tax authority (IRS) extended the deadline for Swiss financial institutions to renew their foreign financial institution (FFI) agreement. The deadline was originally 31 July 2017, but it has been extended to 24 October 2017.

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Swiss financial institutions that fail to renew by 24 October 2017 will no longer be included on the FFI list and will be treated as nonparticipating FFIs effective from 1 January 2017.

 

Read a September 2017 report [PDF 86 KB] prepared by the KPMG member firm in Switzerland

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