How do I have to declare securities and accounts?

The correct declaration of securities and accounts is a central component of the Swiss tax return. This guide systematically explains what you must declare, how to proceed, and what advantages a correct declaration offers.

What Must You Declare in the Securities Register?

All Accounts and Balances

Bank Accounts:

• Savings, private, salary accounts at every bank
• Accounts with zero balance: Even empty accounts must be declared
• Rental deposit accounts: Often forgotten, but mandatory to declare
• Smartphone banking accounts: Digital banks like Revolut, N26
• Children's accounts: As long as children don't file their own tax return
• Foreign accounts: All accounts abroad, even with small balances
• Crypto assets: Digital currencies and tokens

All Securities

Financial Instruments:

• Stocks: Swiss and foreign securities
• Bonds: Government bonds, corporate bonds
• Funds: Investment funds, ETFs, hedge funds
• Structured products: Certificates, options
• LLC shares: Participations in companies
• Life insurance: Surrender value policies (not Pillar 3a)

What is NOT Subject to Declaration?

• Pillar 3a accounts: Tax-exempt until withdrawal
• Vested benefits accounts: Tax-free until maturity
• Pension fund assets: Occupational pension
• Household goods: Furniture, electrical appliances, personal items

Valuation and Reference Date

Reference Date for Valuation

All assets are valued as of December 31 of the tax year:

• Listed securities: Closing price of the last trading day in December
• Bank accounts: Account balance on December 31
• Unlisted securities: Market value according to tax authority estimate

Foreign Assets

• Conversion to Swiss francs mandatory
• Wealth: Use year-end exchange rate
• Income: Use annual average exchange rate
• Exchange rate list of the Federal Tax Administration at ictax.ch

Practical Procedure for Declaration

The Easy Way: Tax Statement

For securities held with Swiss banks:

1. Request tax statement from your bank
2. Transfer total to one line of the securities register
3. Attach complete tax statement (all pages)
4. No need to record individual positions

Individual Declaration

If no tax statement available:

• List each position individually
• State tax value as of Dec. 31
• Record all income for the year
• Collect receipts: Account statements, dividend statements

Declaring Income Correctly

Interest Income

• Account interest: Even for minimal amounts
• Bond interest: Current interest and accrued
• With withholding tax: Use separate column
• Without withholding tax: Use different column

Dividends and Distributions

• Gross dividends: Before withholding tax deduction
• Fund distributions: All income and capital gains
• Foreign dividends: With any withholding tax

Capital Gains

• Private investors: Capital gains are tax-free
• Professional trading: All gains taxable
• Observe criteria for professional trading

Reclaiming Withholding Tax

Requirements

• Residence in Switzerland at the time of maturity
• Correct declaration of all assets and income
• Proof of beneficial ownership of assets

Refund Procedure

• Automatic offset with tax bill
• Deadline: 3 years after the end of the calendar year of maturity
• If refused: Irrevocable forfeiture of claim

Important: This deadline cannot be extended or interrupted. An extension for the tax return does not apply to the refund claim!

Wealth Tax: What You Need to Know

Taxable Assets

• Account balances: All types, including abroad
• Securities: At market values as of Dec. 31
• Life insurance: Surrender values
• Vehicles: According to market value
• Art objects: If of considerable value

Wealth Exemptions (Selection of Major Cantons)

• Canton of Zurich: CHF 80,000 (single) / CHF 159,000 (married)
• Canton of Bern: CHF 100,000 general exemption
• Canton of Zug: Taxation from very low amounts
• Canton of Valais: CHF 30,000 (single) / CHF 60,000 (married)

Tax Rates

Wealth tax amounts to 1-5 per thousand of taxable wealth depending on the canton and is progressively structured.

Avoiding Common Mistakes

Completeness

• ☑ Declare all accounts: Even with minimal balances
• ☑ Foreign assets: Don't forget
• ☑ Children's assets: With joint tax return

Valuation

• ☑ Use correct reference date (Dec. 31)
• ☑ Correct conversion of foreign currencies
• ☑ Keep tax statement current

Income

• ☑ Declare gross income (before tax deduction)
• ☑ Use correct columns (with/without withholding tax)
• ☑ Note due date, not payment date

Special Situations

Inheritances

• During the year: Proportional declaration
• Estate community: Divide according to inheritance quotas
• Withholding tax: Separate treatment before/after inheritance
• Until date of death: Refund in name of deceased
• After date of death: Each heir claims individually for their share

Foreign Withholding Tax

• Utilize double taxation agreements
• Request refund in source state
• Crediting possible in Switzerland
• Form DA-1: Required for crediting

Qualified Participations

• From 10% participation: Reduced taxation
• Federal/cantonal level: Different reliefs
• Liquidation proceeds: Special regulations

Practical Tips

Documentation

• Keep receipts: At least 10 years
• Systematic filing: By year and category
• Digital copies: Recommended as backup

Tax Optimization

• Timing: Plan purchases and sales optimally for taxes
• Choice of residence: Consider cantonal differences
• Use pension: Maximize Pillar 3a

Professional Help

• For complex situations: Consult tax advisor
• Borderline cases: Contact tax office
• Legal certainty: Ask when uncertain

Important Deadlines and Dates

Tax Return

• Filing deadline: Usually March 31 of following year
• Extension: Often until end of September upon request
• Electronic filing: Partially longer deadlines

Withholding Tax

• Application: Earliest on January 1 after maturity
• Limitation: 3 years after the end of the calendar year of maturity
• Automatic offset: With tax bill
• No interruption: Deadline cannot be extended

Digital Tools

Online Tools

• Cantonal tax programs: Usually available free of charge
• Tax statement upload: Direct import possible
• Calculation tools: For tax comparisons

Mobile Apps

• Banking apps: For current account balances
• Portfolio trackers: For securities overview
• Tax apps: For on the go

Control and Evidence

Automatic Exchange of Information (AEOI)

Since 2017, Swiss tax authorities automatically receive information about:

• Foreign bank accounts of Swiss taxpayers
• Life insurance with foreign providers
• Interest income and account balances

Consequences of Non-Declaration

• Back tax procedures: With interest and fines
• Criminal proceedings: For willful tax evasion
• Loss of withholding tax: No refund possible anymore (forfeiture)

Conclusion

The correct declaration of securities and accounts is essential for a legally compliant tax return. Through complete and correct information, you not only secure the refund of withholding tax but also avoid costly back tax procedures.

Most Important Points:

• Completeness is crucial: Declare all accounts and securities
• Note December 31 reference date
• State gross income (before tax deduction)
• Observe 3-year deadline for withholding tax refund
• Use bank's tax statement for easier declaration

When uncertain, don't hesitate to seek professional help or contact your cantonal tax office directly.

Remember: Completeness and correctness pay off – both in terms of taxes and legally.