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Old 17.12.2018, 07:50
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Us citizen receiving inheritance from a swiss person

Hi,

I will be receiving an inheritance of my swiss uncle and I heard that the Swiss bank will charge me almost a 40% to receive that inheritance (Something related with FATCA) because Im a US person. Is that true? My lawyer here told me they should not charge me anything since the US is tax free when it comes to receive an inheritance even if I am sending all the money to the US and closing the Swiss account. Does anyone know about this? Thank you in advance!!
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Old 17.12.2018, 09:22
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Re: Us citizen receiving inheritance from a swiss person

Most Swiss cantons charge an inheritance tax to non-lineal descendents/ other persons receiving a Swiss inheritance. The rate or rate range can be determined from this Credit Suisse chart by first determining the canton responsible and then reviewing the relationship column:

https://www.credit-suisse.com/media/...tabelle-en.pdf

Only a few U.S. states charges inheritance tax (as opposed to an estate tax) so your attorney is probably right regarding U.S. inheritance taxes.
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Old 17.12.2018, 10:17
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Re: Us citizen receiving inheritance from a swiss person

Awesome! Thanks for your fast reply.
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Old 17.12.2018, 10:43
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Re: Us citizen receiving inheritance from a swiss person

I dont think the taxing has to do with FATCA, but the rest sounds about right. The tax ranges from 0% in Kanton Schwyz up to 50% in Kanton Basel land, also some Kantone will rip you for a "Schenkungssteuer" or a Gifting-tax as well.
And the law allows for a double taxing for international inheritances, so if your country wants their pound of flesh you bleed twice.
Who knows, you may be able to get a decent meal at McDonalds out of your inheritance after your new buddy the Swiss taxman comes a-calling.
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