Jurisdiction · Switzerland
Swiss FATCA & CRS reporting, with SEI XML built in.
Swiss financial institutions report under Model 2 today: directly to the IRS, with the Federal Tax Administration handling group requests. Novus generates IRS-schema FATCA XML and FTA-compliant SEI XML from the same data.
01Reporting requirements
Switzerland at a glance.
Swiss financial institutions work with the Federal Tax Administration (ESTV / AFC). FATCA filings must follow the IRS and FTA schemas, including SEI XML for group requests under the Model 2 IGA.
- Reporting authority
- ESTV / AFC (Federal Tax Administration)
- FATCA model
- Model 2 IGA: consenting US accounts are reported directly to the IRS; the IRS can make group requests about non-consenting accounts through the FTA
- FATCA schema
- IRS FATCA XML Schema v2.0
- SEI XML schema
- SEI-XML Schema V.1.2, for group requests
- Package structure
- Each information package contains one SEI XML, one FATCA XML and one PDF
02Switzerland specifics
SEI XML and the group-request package.
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01 / Rule
One of each
Each package must contain exactly one SEI XML, one FATCA XML and one PDF.
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02 / Rule
SEI-XML V.1.2
The SEI XML validates against SEI-XML Schema V.1.2, with detailed business rules for
AccountCategory,AccountTypeand the US indicia fields. -
03 / Rule
FATCA XSD v2.0
The FATCA XML must validate against FATCA XSD v2.0 and meet the business rules in the IRS FATCA XML Schema User Guide.
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04 / Rule
OECD codes
Country codes, TIN formats and currency codes must follow OECD standards. The FTA also publishes technical specifications Swiss FIs must follow.
Switzerland moves to Model 1 in 2027
Switzerland has signed a Model 1 agreement with the United States, scheduled to take effect in 2027. Swiss FIs will then report to the FTA, which exchanges the information with the IRS.
03How Novus helps
From source data to a file ready to upload.
Novus prepares and validates every file. Your institution submits them under its own credentials: IDES packages to the IRS, and group-request packages to the FTA.
- Generate FATCA XML v2.0 and SEI XML v1.2 from your source data.
- Validate against both the IRS and FTA schemas before you submit.
- Package SEI XML, FATCA XML and PDF together, as the FTA requires.
- Handle group-request workflows for multi-account submissions.
- Validate TINs against Swiss and OECD rules.
FAQ
Switzerland FATCA & CRS questions
Something else? Ask our team
What is SEI XML, and why is it needed in Switzerland?
SEI XML is a Swiss-specific format required alongside FATCA XML when answering group requests through the FTA. Each package must include one SEI XML, one FATCA XML and one PDF.
Does Switzerland use Model 1 or Model 2 FATCA?
Today, Model 2: Swiss FIs report consenting US accounts directly to the IRS, and the IRS can make group requests about non-consenting accounts through the FTA. Switzerland’s Model 1 agreement is scheduled to take effect in 2027, after which FIs report to the FTA.
Which schema versions apply in Switzerland?
FATCA XML v2.0 (IRS) and SEI-XML Schema V.1.2 (FTA). The FTA publishes additional technical specifications that Swiss FIs must follow.
Can Novus generate SEI XML automatically?
Yes. Novus generates SEI XML v1.2 from your source data and packages it with the FATCA XML and PDF, as the FTA requires.
Filing in Switzerland? Validate before you upload.
See how Novus prepares Switzerland FATCA and CRS files from your existing data, in a 20-minute demo.