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Old 23.01.2017, 00:50
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UK bank accounts AEOI, EUSD - AHV/AVS

Hi,

I called my U.K. bank (Natwest) to give them my AHV/AVS number for the purposes of AEOI (and to be excluded from EUSD).

They already have my Swiss address but to the best of my knowledge, they would need my AHV/AVS number as well. They seemed like they did not know what I was talking about.

Is it

a) the banks that do the reporting and thus the banks that need the AHV/AVS number
OR
b) HMRC that does the reporting and thus HMRC (not the banks) needs the AHV/AVS number.

If it's the banks, did someone else also have this issue of calling to give them the AHV/AVS number only to talk to someone who said they would not store or process this information?

All the best,
K
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Old 23.01.2017, 09:23
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

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Hi,

I called my U.K. bank (Natwest) to give them my AHV/AVS number for the purposes of AEOI (and to be excluded from EUSD).

They already have my Swiss address but to the best of my knowledge, they would need my AHV/AVS number as well. They seemed like they did not know what I was talking about.

Is it

a) the banks that do the reporting and thus the banks that need the AHV/AVS number
OR
b) HMRC that does the reporting and thus HMRC (not the banks) needs the AHV/AVS number.

If it's the banks, did someone else also have this issue of calling to give them the AHV/AVS number only to talk to someone who said they would not store or process this information?

All the best,
K
Natwest seem behind the curve, no doubt they will ask you at some point.
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Old 23.01.2017, 09:49
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

Duh, excuse ignorance, but is this something new? Because I've never provided our AHV numbers to any UK bank. Never been asked for them ether.
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Old 23.01.2017, 10:42
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

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Duh, excuse ignorance, but is this something new? Because I've never provided our AHV numbers to any UK bank. Never been asked for them ether.
Banks are supposed to have a TIN (Tax Identification no) which will be used for exchange of information. The AHV is the Swiss TIN.
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Old 23.01.2017, 14:28
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

Is this a new thing though?
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Old 23.01.2017, 14:32
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

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Is this a new thing though?
Yes, from 1st Jan 2017 banks will send info to tax authorities of all account holders.
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Old 27.01.2017, 10:15
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

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Natwest seem behind the curve, no doubt they will ask you at some point.
Now it seems like Hargreaves Lansdown as well is not familiar with the concept of registering my tax residence and they seem to confuse it with registering my residential address for communication purposes, they sound like they have no use for my AHV/AVS number.
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Old 21.03.2017, 12:48
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Re: UK bank accounts AEOI, EUSD - AHV/AVS

Th AEOI (automatic exchange of information) is indeed newish, although you will have read headlines for the last few years that Swiss Banking secrecy is dead.... sharing of info will be both ways.

I haven't heard of anything swiss residents with offshore bank accounts (which would be almost every expat in the country!) need to do with regard to providing a swiss TIN (AHV number) information to their offshore banks, before reading this today.

Anyone seen this posted by their own banks?

This requirement is also not referred to in the FAQ on the matter (in English dated Sept 2016) - from the Swiss "State Secretariat for International Financial Matters" SIF.

There is general info on the SIF site here in English , but basically they are collecting the information this year and will start exchanging it in 2018, and 100 countries are to be involved (they seem to be adding to the list of which ones they have actual agreements and procedures in place with).

They will exchange, according to the credit suisse site

"The following information is to be reported by the financial institutions and will be exchanged with the tax authorities in the client's country of tax residence:

Identification information (e.g. name of the natural person or entity, address, country of residence for tax purposes, taxpayer identification number and date of birth);
Account information (e.g. name of the financial institution and account number); and
Financial information (e.g. account balance, dividends, income, other income and gross proceeds)
"

Last edited by alemap; 21.03.2017 at 12:49. Reason: typos
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