Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #1  
Old 12.08.2015, 16:29
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 8,296
Groaned at 107 Times in 91 Posts
Thanked 14,216 Times in 5,024 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Transferring PF 3a to finance a build

We will be using our Postfinance 3a account to finance our new build (with another bank). Has anyone gone through this process and what documents will I need to transfer the cash? I presume the building contract and land purchase contract, but what else?
I've written to our guy at PF but he is on vacation, so I thought I'd try to get a headstart whilst they deal with my request.
Reply With Quote
This user would like to thank PaddyG for this useful post:
  #2  
Old 12.08.2015, 22:05
Newbie 1st class
 
Join Date: Jul 2015
Location: Zug
Posts: 14
Groaned at 0 Times in 0 Posts
Thanked 5 Times in 3 Posts
InZug2015 has become a little unpopularInZug2015 has become a little unpopular
Re: Transferring PF 3a to finance a build

You will have to show them the contract. Once you transfer the cash the bank is required to notify the tax authorities which will tax you on the lump sum distribution. Postfinance has a good calculator to calculate the tax burden:
https://www.postfinance.ch/de/priv/p...alc/cap3a.html
Reply With Quote
This user would like to thank InZug2015 for this useful post:
  #3  
Old 13.08.2015, 09:55
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 8,296
Groaned at 107 Times in 91 Posts
Thanked 14,216 Times in 5,024 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Re: Transferring PF 3a to finance a build

Quote:
View Post
You will have to show them the contract. Once you transfer the cash the bank is required to notify the tax authorities which will tax you on the lump sum distribution. Postfinance has a good calculator to calculate the tax burden:
https://www.postfinance.ch/de/priv/p...alc/cap3a.html
Thanks, so we shouldn't need any other documentation. I was aware of the tax situation, but it seems to be a little less than we imagined. Have you done this through PF yourself, how long did the process take?
Reply With Quote
  #4  
Old 13.08.2015, 10:07
newtoswitz's Avatar
Forum Veteran
 
Join Date: Jan 2010
Location: Rapperswil
Posts: 1,158
Groaned at 15 Times in 13 Posts
Thanked 1,310 Times in 596 Posts
newtoswitz has a reputation beyond reputenewtoswitz has a reputation beyond reputenewtoswitz has a reputation beyond reputenewtoswitz has a reputation beyond repute
Re: Transferring PF 3a to finance a build

It wasn't a new build, but in order to provide the Kaufzusage (promise to buy/pay) SGKB insisted the P3a was transferred to them.

They then included it in all the documentation for the main mortgage, deposit etc etc. They kept in in cash for a couple of months before paying it out to the seller, so no losses due to investment costs etc.

I'd assume much the same requirements as for a mortgage on a new build, or transfer it to the other bank first so it's all in one place.
Reply With Quote
  #5  
Old 09.09.2015, 11:14
PaddyG's Avatar
Forum Legend
 
Join Date: Aug 2007
Location: Pensier, Fribourg
Posts: 8,296
Groaned at 107 Times in 91 Posts
Thanked 14,216 Times in 5,024 Posts
PaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond reputePaddyG has a reputation beyond repute
Re: Transferring PF 3a to finance a build

Hi all, a quick update. We filled out and sent off the required forms as requested, which the pension fund has received. However, we also needed a "Cessation of Pledge" letter from the creditor, i.e. our PostFinance mortgage broker, in order for the account to be released and the funds transferred. I'm a bit miffed our bank didn't take the initiative and inform me right from the beginning, but I've been in touch with them to do it ASAP.
Reply With Quote
This user would like to thank PaddyG for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Finance/Finance Math tutoring, CFA, FRM and CIIA coaching Kutuzov Jobs wanted 1 16.03.2012 23:56
Sending money from UK to PF account PaddyG Finance/banking/taxation 2 14.12.2011 15:45
The Build Muscle, Build Bones Event! (Free!) vanessa-g Commercial events 1 21.11.2011 15:50
What bank/CCs do you recommend in Basel? PF? Badgerman Finance/banking/taxation 7 28.09.2011 12:40
FOR SALE: [Zurich] Yamaha Clavinova PF P-100 electric piano pdrag Items for sale 1 14.02.2010 18:44


All times are GMT +2. The time now is 22:08.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0