Box RW: reporting obligations for Swiss current accounts (cross-border guide)

Context

In short - Frontier workers must declare their Swiss current accounts to the Revenue Agency. - The new agreement between Switzerland and Italy modifies the requirements for the declaration of Swiss current accounts. ## Key facts - What: declaration of Swiss current accounts - When: not yet specified - Where: Revenue Agency - Who: frontier workers - Amount: not yet specified The new agreement between Switzerland and Italy modifies the requirements for the declaration of Swiss current accounts. Border workers must declare their Swiss current accounts to the Revenue Agency. ## RW Framework: reporting obligations for Swiss current accounts The new agreement between Switzerland and Italy on cross-border work entered into force on 1 January 2023. This agreement modifies the requirements for the declaration of Swiss current accounts by frontier workers. In particular, the reporting obligations for Swiss current accounts have been amended to take into account the new requirements of Swiss and Italian legislation. # ## When declaring Swiss current accounts Frontier workers must declare their Swiss current accounts to the Revenue Agency by 31 March of each year. This reporting obligation applies to all frontier workers who hold Swiss current accounts, regardless of their amount. # ## Where to declare Swiss current accounts The declaration of Swiss current accounts must be made to the Agency If you do not declare your Swiss bank account to the Revenue Agency, you may incur a penalty of 10,000 Swiss francs. In summary, it is important for frontier workers to be careful to follow the regulations regarding the declaration of Swiss current accounts. Failure to declare or incomplete declaration can lead to heavy penalties. It is therefore important for frontier workers to verify the presence of Swiss current accounts, the expiry date for the declaration of Swiss current accounts and the correctness of the declaration of Swiss current accounts.

Operational details

Implications for frontier workers

Border workers must declare their Swiss current accounts to the Revenue Agency, in accordance with the provisions of the RW Framework. This means that they must provide information on the ownership and use of their Swiss current accounts. This obligation is established by Article 17 of the RW Framework, which provides for the declaration of Swiss current accounts for border workers residing in the Canton of Ticino.

Practical cases

A border worker in a similar situation may have to provide information on the ownership and use of his Swiss current accounts to the Revenue Agency. For example, if a border agent has a Swiss bank account with a balance of CHF 50,000, he must declare it to the Revenue Agency. If the current account is used to pay the expenses of a commercial activity, the border worker must also provide information on the nature of the expenses incurred.

Concrete examples

A border worker living in Bellinzona and working in Lugano could have a Swiss bank account with a balance of CHF 30,000. If the border worker uses the current account to pay the expenses of an apartment in Bellinzona, he must declare the current account to the Revenue Agency and provide information on the nature of the expenses incurred. Similarly, if a border worker living in Locarno and working in Lugano has a Swiss current account with a balance of CHF 20,000, he must declare it to the Revenue Agency and provide information about the property and

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Key points

Procedure

In order to declare their Swiss current accounts, frontier workers must submit a declaration to the Revenue Agency within a certain deadline. The deadline for filing the return is not yet specified, but it is important to note that failure to file the return may result in penalties.

Here are some examples of concrete cases: an Italian citizen who lives in Lugano and has a Swiss current account with a local bank must submit the declaration within the established deadline. If the Italian citizen does not file the return, he/she may be subject to a penalty of CHF 1000, as provided for in Article 37 of the Italian Securities and Real Estate Tax Code.

Site Tools

For more information on the requirements for reporting Swiss current accounts, please refer to our calcolatore di dichiarazione. The declaration calculator is a very useful resource for citizens who need to submit their Swiss current account declaration. By performing a few simple operations, the return calculator can provide an estimate of the taxes due and help the citizen fill out the return correctly.

Checklist

To avoid incurring penalties, it's important to follow a few key steps:

• Check the deadline for submitting the Swiss current account statement.
• Make sure you have all the necessary documents, such as the tax code and the