116. Federal law, with which the Banking Act changes, the Federal Act on the establishment of a register of accounts and the account inspection (account register and accounts law-KontRegG), the federal law on the reporting requirement of capital outflows and of capital inflows (capital outflow reporting act) and the federal law implementing the common reporting standard for the automatic exchange of information on financial accounts (Common Reporting Standard-Law-GMSG), which EU mutual assistance law and mutual assistance-implementing law

The National Council has decided:

table of contents

Article 1	Amendment of the Federal Act on Banking (Banking Act-BWG)
Article 2	Federal law on the establishment of a register of accounts and the contentions of accounts (account register and accounts law-KontRegG)
Article 3	Federal law on the reporting obligation of capital outflows and capital inflows (capital outflow reporting act)
Article 4	Federal law implementing the common reporting standard for the automatic exchange of information on financial accounts (Common Reporting Standard-Law-GMSG)
Article 5	Amendment of the EU's mutual assistance law
Article 6	Amendment of Administrative Assistance-Implementing Act

Article 1

Amendment of the Banking Act (BWG)

The Federal Act on Banking (Banking Act-BWG), BGBl. No. 532/1993, as last amended by the Federal Law, BGBl. I No 68/2015, shall be amended as follows:

(1) § 38 is amended as follows:

(a) (2) (1) is:

" 1.		in criminal proceedings in respect of the public prosecutors and courts in accordance with § § 116, 210 (3) of the Criminal Procedure Code 1975-StPO, BGBl. No 631/1975, and in criminal proceedings for intentional financial offences, with the exception of financial irregularities, in relation to the financial authorities in accordance with § § 89, 99 (6) of the Financial Criminal Law-FinStrG, BGBl. No 129/1958; "

(b) In paragraph 2, at the end of Z 9, the point of the point shall be replaced by a dash and the following points Z 10 to 13 shall be added:

" 10.		for the automatic exchange of information on financial accounts in accordance with the Common Reporting Standards Act-GMSG, BGBl. I No 116/2015;
11.		against tax authorities of the Federal Republic of Germany on a request for information pursuant to § 8 of the Kontenregister-und Konteneinschaugesetz-KontRegG, BGBl. I No 116/2015;
12.		§ 3 KontRegG and the exchange of information in accordance with § 4 of the KontRegG;
13.		With regard to the reporting obligations of § § 3 and 5 of the Capital Outflow Reporting Act, BGBl. I No 116/2015. "

(2) In § 107, the following paragraphs 88 and 89 are added:

" (88) § 38 paragraph 2 Z 1 in the version of the Federal Law, BGBl. I n ° 116/2015, occurs with 1. Jänner 2016 in force.

(89) ( Constitutional provision ) § 38 (2) (11) and (12) in the version of the Federal Law BGBl. I n ° 116/2015 shall be applied for the first time for periods from 1 March 2015. "

Article 2

Federal law on the establishment of a register of accounts and the contentions of accounts (account register and accounts law-KontRegG)

table of contents

	1. Part-Account register
§ 1.	Establishment of the account register
§ 2.	Contents of the account register
§ 3.	Transfers of credit institutions
	2. Part-View in the account register
§ 4.	Information from the register of accounts
§ 5.	Management of the accounts register
§ 6.	Authorisation
§ 7.	Criminal provisions
	3. Part-Contente and legal protection
§ 8.	Requests for information to credit institutions
§ 9.	Special legal protection
	4. Part-Legal Protection Officer
§ 10.	Duties of the discharge authority to the legal protection officer
§ 11.	Duties of the legal protection officer
	5. Part-Final provisions
§ 12.	Reference to other legislation
§ 13.	Personal names
§ 14.	Enforcement

Part 1

Account Register

Establishment of the account register

§ 1. (1) The Federal Minister of Finance has the accounts in the deposit business (Section 1, Section 1, Z 1 of the Banking Act-BWG, BGBl. 532/1993), in the Girotransaction (Section 1 (1) (2) of the Federal Elections Act) and in the construction business (Section 1 (1) (12) of the Federal Elections Act) and on the depots in the depository business (Section 1 (1) (5) of the Federal Elections Act) of the credit institutions to conduct a register (register of accounts) for the whole of the Federal territory.

(2) Credit institutions within the meaning of this Federal Law are:

1.		Credit institutions pursuant to Section 1 (1) of the Federal Elections Act (BWG) with the exception of statutory pension funds in accordance with company employee and self-employment pension law-BMSVG, BGBl. I No 100/2002,
2.		Branches of CRR credit institutions pursuant to § 9 BWG, CRR financial institutions pursuant to § 11 BWG, or subsidiaries of CRR financial institutions pursuant to Section 13 of the Federal Elections Act, which are entitled to carry out activities in the territory of the Federal Republic of Germany pursuant to No. 1 or 12 of Annex I to the Directive 2013 /36/EU, on access to the activities of credit institutions and the supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC, OJ L 73, 14.3.2006, p. No. OJ L 176 of 27.06.2013 p. 338, as last amended by Directive 2014 /59/EU, OJ L 176, 15.7.2014, p. No. OJ L 173, 12.06.2014, p. 190,
3.		Branches of investment firms in accordance with Section 12 of the Securities and Markets Act 2007-WAG, BGBl. I No 60/2007, which has the right to provide, within the country, ancillary services pursuant to point 1 of Section B of Annex I to Directive 2004 /39/EC, on markets in financial instruments, amending Directives 85 /611/EEC and 93 /6/EEC and the Directive 2000 /12/EC and repealing Directive 93 /22/EEC, OJ L 200, 30.7.2000, p. No. OJ L 145 of 30.04.2004 p. 1, as last amended by Directive 2010 /78/EU, OJ L 145, 31.5.2010, p. No. 120., as amended by the corrigendum OJ L 331, 15.12.2010, p. No. OJ L 54, 22.02.2014 p. 23.

Contents of the account register

§ 2. (1) The following data relating to the accounts and depots referred to in section 1 (1) shall be included in the account register:

1.		in the case of natural persons as customers, the area-specific personal identifier for taxes and charges (bPK SA); provided that the bPK SA could not be determined via the master-number register, first name, surname, date of birth, address and (b) to include a State of the State;
2.		in the case of legal entities as customers, the number of the company's core numbers according to § 6 (3) of the e-Government Act-E-GovG, BGBl. I n ° 10/2004, or an order of order with which this number can be determined, provided that the number of the tribe or the term of order could not be determined via the business register, the name, address and the state of the country of the country of interest shall be included;
3.		any person, trustee and beneficial owner authorised to represent the credit institution with respect to the account or the depository, where Z 1 and Z 2 are to be applied in a reasonable way;
4.		the account number or depot number,
5.		the day of the opening and the dissolution of the account or the depository,
6.		the name of the account or depository credit institutions.

(2) In the case of savings customers within the meaning of § 31 para. 3 BWG, the identified customer shall be reported as account holder. Savings accounts pursuant to Section 40 (7) of the BWG and Depots pursuant to Section 40 (5) of the Federal Elections Act are to be reported when an identity determination of the customer has taken place in the sense of § 40.

Transfers of credit institutions

§ 3. (1) The credit institutions shall keep the data required in accordance with § 2 on an ongoing basis electronically to the account register. Instead of the bPK SA referred to in Section 2 (1) (1) (1), the BPK SA is to be transmitted by the credit institutions as an encrypted area-specific personal identification code for taxes and charges (vbPK SA). The obligation to transfer credit institutions shall begin with the entry into service of the account register as defined by the Regulation. The first-time transmission has to include the data (§ 2) as of March 1, 2015, as well as the openings and resolutions that have taken place until the date of the commissioning. For the accounts and depots on 1 March 2015, this day shall be deemed to be the day of the opening (Section 2 (1) Z 5).

(2) For the purpose of data transfer to the account register, the credit institutions are entitled, as the contracting authorities of the public sector pursuant to § 10 (2) E-GovG, to equip their data applications with encrypted area-specific data. To demand personal marks for taxes and charges from the master number register authority. In the case of data pursuant to § 2 (1) (2) (2) (2), credit institutions are entitled to determine these data via the business register. Costs incurred in this connection, including those of the stock registration authority and the Bundesanstalt Statistik Österreich, shall be borne by the credit institution.

Part 2

Access to the account register

Information from the register of accounts

§ 4. (1) Information from the register of accounts shall be provided by electronic means of inspection:

1.		for criminal purposes to public prosecutors and criminal courts,
2.		for the purposes of financial criminal law, moreover, the financial authorities and the Federal Financial Court,
3.		if it is appropriate and appropriate in the interests of the collection, for tax purposes, the federal and federal financial court tax authorities.

(2) Search terms may only be specific persons or accounts.

(3) Any interrogation and transmission of personal data from the account register shall be recorded in such a way that it is possible to assign the interrogation or transmission to a particular organ walter. The log records are to be kept for ten years and then deleted.

(4) Concerned persons and entrepreneurs have the right to information on which data concerning them has been included in the register of accounts. The query can be done via FinanzOnline.

(5) Information from the register of accounts shall not be permitted in the procedure for the assessment of income tax, corporation tax and VAT, except where the tax authority has concerns about the accuracy of the declaration of duty, a Preliminary investigation procedure pursuant to section 161 (2) of the BAO (BAO), which had previously been given the opportunity to submit an opinion. The appraisal of the opinion shall be informed.

(6) On the basis of a review of the account register of the tax authority, the taxable person is to be informed about financial online.

(7) ( Constitutional provision ) Paragraph 1 may be amended by the National Council only in the presence of at least half of the Members of Parliament and by a majority of two-thirds of the votes cast.

Management of the accounts register

§ 5. (1) The account register shall be provided with support for automation. The data collected shall be ten years from the end of the year of the dissolution of the account or to store depots.

(2) The Federal Minister of Finance is a data protection entity within the meaning of § 4 Z 4 of the Data Protection Act 2000-DSG 2000, BGBl. I No 165/1999, for the register of accounts. It has to ensure its establishment and operation.

(3) The Bundesrechenzentrum Gesellschaft mit beschränkter Haftung (Bundesrechenzentrum Gesellschaft mit beschränkter Haftung, BRZ GmbH) is a legal service officer for the account register within the meaning of § 4 Z 5 and § 10 Abs. 2 DSG 2000.

Authorisation

§ 6. The Federal Minister of Finance has decreed the transmission procedure (§ 3) and the exchange of information (§ § 4 and 8) by means of financial online, including the electronic logging of the queries by the authorized authorities in of organisational and technical aspects.

Criminal provisions

§ 7. (1) Any person who intentionally violates the obligation to transfer § 3 shall be guilty of a financial offence and shall be punished with a fine of up to 200 000 euros.

(2) Anyone who is grossly negligent in the act referred to in paragraph 1 shall be punished with a fine of up to 100 000 euros.

(3) The financial proceedings referred to in paragraph 1 and (2) shall never be punished by the court.

(4) In order to carry out the financial criminal proceedings, the tax office responsible for the collection of charges by the credit institution responsible for the credit institution shall be responsible as a financial criminal authority. Section 58 (1) (lit). f last half-sentence of the Financial Criminal Law-FinStrG, BGBl. No 129/1958, shall apply mutatily.

Part 3

Account inspection and legal protection

Requests for information to credit institutions

§ 8. (1) The duty authority shall be entitled, in an investigation procedure, in accordance with § 165 of the Federal Tax Code (BAO), Federal Law Gazette (BGBl). No 194/1961, on the facts of a business relationship, of credit institutions, if:

1.		there are reasonable doubts as to the accuracy of the information provided by the person liable for the discharge
2.		It is to be expected that the information is likely to clarify the doubts and
3.		It is to be expected that the intervention associated with the exchange of information in the protection-worthy interests of the customer of the credit institution is not out of proportion to the purpose of the investigation.

(2) requests for information must be written in writing and must be completed by the head of the tax authority. Requests for information and their justification must be documented in the tax act.

(3) In the procedure for the assessment of the income tax, the corporation tax and the sales tax, requests for information are required (par. 1) not allowed, unless-after the removal of doubt by a supplementary order pursuant to § 161 (1) BAO-the levy authority has concerns about the correctness of the release declaration, initiates an investigation procedure in accordance with § 161 para. 2 BAO and the person concerned had previously had the opportunity to comment. The appraisal of the opinion shall be informed. Section 8 (1) shall apply mutatily.

(4) If the debtor is not the holder of the account, but is the representative of the payer, the trustee or the beneficial owner, a written request for information may not be made until the holder of the account has previously been given the opportunity to Opinion. The appraisal of the opinion shall be informed. Section 8 (1) shall apply mutatily.

Special legal protection

§ 9. (1) ( Constitutional provision ) The Bundesfinanzgericht (Federal Finance Court) decides on the approval of an account review by a single judge.

(2) A request for information (§ 8) shall be required by the Federal Financial Court. To this end, the levy authority shall submit the following documents electronically:

1.		the minutes relating to the hearing of the person who is subject to the discharge or the correspondence relating thereto if it has not come to a hearing for reasons which lie with the person liable to discharge; in the cases of Section 8 (3), also the assessment of the opinion the person who is not party to the duty procedure,
2.		the request for information made by the head of the tax authority; and
3.		the justification.

(3) On the basis of the request for information submitted, the Federal Financial Court shall examine the existence of the conditions for a review of the accounts in accordance with this Act. The decision is to be taken within 3 days.

(4) ( Constitutional provision ) A recourse may be filed against the decision of the Federal Financial Court pursuant to paragraph 1 above which the Federal Financial Court decides by a senate. § 288 BAO is to be applied in a reasonable way.

(5) If the Bundesfinanzgericht (Bundesfinanzgericht) of the Federal Finance Court (Bundesfinanzgericht) decides in accordance with paragraph 4 that the inspection of the accounts has been wrongly granted, then, with regard to the evidence obtained in the case of this account, a prohibition of exploitation shall apply in the case of the tax procedure in which the request for information is required .

Part 4

Legal Protection Officer

Duties of the discharge authority to the legal protection officer

§ 10. (1) In order to exercise the special legal protection in the duty procedure in connection with information from the register of accounts (Section 4 (1) (3)), the duties authority has in respect of the legal protection officer appointed in accordance with Section 74a of the FinStrG the following duties:

1.		at all times to provide an insight into all the necessary documents and records,
2.		to be followed by copies of individual files free of charge upon request
3.		to make the log records of the account register queries (§ 4 paragraph 3) accessible to him, and
4.		to provide all necessary information.

(2) The duties authority may not rely on the legal protection officer on the matter of the law of the law (Art. 20 (3) B-VG) still rely on the obligation to maintain confidentiality of duty (§ 48a BAO).

Duties of the legal protection officer

§ 11. The legal protection officer appointed in accordance with § 74a FinStrG has the following duties:

1.		The legal protection officer is responsible for the examination of the log records of the account register queries (Section 4 (3)).
2.		By 31 March of the following year, the legal protection officer shall submit to the Federal Minister for Finance a report on his activities and perceptions within the framework of his duties pursuant to this Act.

Part 5

Final provisions

Reference to other legislation

§ 12. Insofar as provisions of other federal laws are referred to in this Federal Act, these are to be applied in their respectively applicable version.

Personal names

§ 13. In so far as the names used in this Federal Act refer to natural persons, the chosen form shall apply to both sexes.

Enforcement

§ 14. The Federal Minister of Finance is responsible for the enforcement of this federal law.

Article 3

Federal law on the reporting obligation of capital outflows and capital inflows (capital outflow reporting act)

table of contents

§ 1.	Definitions
	1. Part Capital outflow-Reporting obligation
§ 2.	Reporting obligation
§ 3.	Scope of reporting requirements
§ 4.	Reporting Period
	2. Part Capital Inflow-Reporting Obligation
§ 5.	Reporting obligation
§ 6.	Scope of reporting requirements
§ 7.	Reporting Period
	3. Part of post-tax reporting of capital inflows subject to reporting
§ 8.	One-time payment
§ 9.	Coverage
§ 10.	Self-Show
	4. Part Common provisions and final provisions
§ 11.	Authorisation
§ 12.	Procedures for the discharge authority
§ 13.	Criminal provisions
§ 14.	Reference to other legislation
§ 15.	Personal names
§ 16.	Override
§ 17.	Enforcement

Definitions

§ 1. In the sense of this federal law means:

1.		Credit institution: a credit institution in accordance with § 1 para. 2 of the Account Register Act-KontRegG, BGBl. I No 116/2015.
2.		Payment institution: a payment institution in accordance with § 5 (1) of the Payment Services Act-ZaDiG, BGBl. I n ° 66/2009 or a branch of a payment institution pursuant to § 12 ZaDiG.
3.		Capital outflow:
a)			the payment and transfer of sight, appointment and savings deposits,
b)			the payment and transfer in connection with the provision of payment services in accordance with § 1 para. 2 of the ZaDiG or in connection with the sale of federal treasures,
c)			the transfer of ownership of securities (Section 1 (1) of the Custody Act, BGBl. No. 424/1969, and Section 3, Section 2, Z 13 of the Investment Fund Act 2011-InvFG 2011, BGBl. I n ° 77/2011) by means of domestic donation and
d)			the transfer of securities to foreign depots.
4.		Capital inflow:
a)			the deposit and transfer of sight, appointment and savings deposits,
b)			the deposit and transfer in the framework of the provision of payment services in accordance with § 1 para. 2 of the ZaDiG or in connection with the sale of federal treasures,
c)			the transfer of ownership of securities (Section 1 (1) of the Custody Act, BGBl. No. 424/1969, and Section 3, Section 2, Z 13 of the Investment Fund Act 2011-InvFG 2011, BGBl. I n ° 77/2011) by means of donation and
d)			the transfer of securities to domestic depots.

Part 1

Capital outflow-reporting obligation

Reporting obligation

§ 2. Credit institutions, payment institutions and the Austrian Federal Finance Agency (ÖBFA) are obliged to report high capital outflows to the Federal Minister of Finance in accordance with the provisions of this Federal Law.

Scope of reporting requirements

§ 3. (1) Reporting obligations are capital outflows of at least 50 000 euro of accounts or depots of natural persons. Excluded from this reporting obligation are capital outflows of business accounts of entrepreneurs and of other accounts of lawyers, notaries or economic spreaders. The rededication of an existing account into a business account as well as the transfer from a private account to a business account represent capital outflows according to § 1 Z 3.

(2) A reporting obligation shall be independent of whether the outflow of capital is effected in a single operation or in several operations between which a connection is manifestly established. Claims for damages may result from the fact that a reporting obligation according to § 1 or an employee in a negligent ignorance, that it is not a related transaction under this paragraph, can be considered as a related transaction pursuant to this paragraph shall not be collected.

(3) The message shall contain:

1.		the encrypted area-specific personal identifier for taxes and charges (vbPK SA); if the vbPK SA could not be determined via the master count register, first name, surname, date of birth, address and state of the country of origin must be included;
2.		the account or depot number and the respective amount.

(4) For the purpose of data transfer, the notifiers are entitled according to § 1, such as contracting entities of the public sector in accordance with § 10 para. 2 of the eGovernment Act-E-GovG, BGBl. I n ° 10/2004, to demand the provision of their data applications with vbPK SA from the master-number register authority. Costs incurred in this connection, including that of the master number register authority, must be borne by the reporting party in accordance with § 1.

(5) In the event that a reporting obligation on the occasion of a capital outflow of at least EUR 50 000 from business accounts of entrepreneurs is a notification to combat money laundering to the money laundering office of the Federal Criminal Police Office (§ 4 para. 2 of the Federal Criminal Police Office-Law BKA-G, BGBl. I n ° 22/2002), the money-laundering authority shall forward this notification to the Federal Ministry of Finance.

Reporting Period

§ 4. (1) The notification shall be made up to the last day of the month following the capital outflow. The reporting obligation for the period 1. January 2016 to 31 December 2016 is up to 31. Jänner 2017.

(2) ( Constitutional provision ) The reporting obligation shall be registered for the first time for the period from 1 March 2015 to 31 December 2015, with the notification no later than 31 December 2015. October 2016.

Part 2

Capital inflow-reporting obligation

Reporting obligation

§ 5. Credit institutions, payment institutions and the Austrian Federal Finance Agency (ÖBFA) are obliged to pay high capital inflows from the Swiss Confederation and the Principality of Liechtenstein in accordance with the provisions of this Federal Act to the Federal Republic of Germany. Federal Minister for Finance to be reported as far as they were in the periods referred to in § 7.

Scope of reporting requirements

§ 6. (1) Reporting obligations shall be capital inflows of at least EUR 50 000 on accounts or depots of

1.		natural persons, with the exception of capital inflows to business accounts of entrepreneurs, with the exception of this reporting obligation;
2.		foundations and foundation-like institutions; in case of doubt, the reporting person may assume that an institution is similar to a foundation.

(2) Where a capital inflow of at least EUR 50 000 is available in an account or depot during the reporting period, all other inflows that have taken place in the reporting period shall also be included in the notification.

(3) The message shall contain:

1.		the encrypted area-specific personal identifier for taxes and charges (vbPK SA); if the vbPK SA could not be determined via the master count register, first name, surname, date of birth, address and state of the country of origin must be included;
2.		the account or depot number and
3.		the respective amount.

(4) For the purpose of data transfer, the notifiers are entitled according to § 5, such as contracting entities of the public sector in accordance with § 10 para. 2 of the eGovernment Act-E-GovG, BGBl. I n ° 10/2004, to demand the provision of their data applications with vbPK SA from the master-number register authority. Costs incurred in this connection, including that of the master number register authority, must be borne by the reporting party in accordance with § 5.

Reporting Period

§ 7. (1) ( Constitutional provision ) The reporting obligation shall be exercised:

1.		For capital inflows from the Swiss Confederation for the period from 1 July 2011 to 31 December 2012,
2.		for capital inflows from the Principality of Liechtenstein for the period of 1. January 2012 until 31 December 2013.

(2) The notifications shall be reported no later than 31 December 2016.

Part 3

Post-taxation of notifiable capital inflows

One-time payment

§ 8. (1) holders of accounts or depots on which capital inflows subject to notifiable reporting have been recorded in accordance with § 6 may, until and including 31 March 2016, irrevocably inform the reporting credit institution in writing of the post-taxation of such To make assets by way of a one-off payment with a repayment effect. They shall provide the necessary amount of money to pay for them.

(2) The one-off payment shall be 38% of the assets subject to reporting obligations. It must be withheld and deducted from the reporting credit institution by 30 September 2016 at the latest; the individual payments have been made within one month after the expiry of this period to the competent authority responsible for the collection of corporate tax. Financial Office to submit a notification.

(3) The credit institution has to issue a certificate to the account holders or depoiners which has to contain the following information on the one-off payment:

1.		the identity (name and date of birth or name) and residence or registered office of the account or depotine holder;
2.		the identity (name and date of birth or name) and residence or registered office of the persons entitled to dispose;
3.		the identity (name and date of birth or name) and residence or registered office of the holders of those accounts or depots from which the notifiable inflow has been made;
4.		to the extent known, the Austrian financial office and tax number and/or social security number;
5.		the BIC code of the credit institution;
6.		the customer number (customer, account number or depot number, IBAN code);
7.		the amount of the one-off payment and the calculation basis, including the transferred economic goods.

(4) With the full credit of the one-off payment on the tax account of the credit institution, the inheritance tax and gift tax and the claims to the Community federal charges pursuant to section 8 (1) of the first and third cases of the credit institution shall apply. Financial Equalisation Act 2008 FAG 2008, BGBl. I n ° 103/2007, as well as the Foundation Tax and Insurance Tax Claims as a gold-plated. The resettlement effect shall apply to all the total debtors of the charges concerned. It shall include claims relating to the charges referred to above, in so far as they are based on facts which have led to the formation of assets subject to the reporting obligation under Article 6 of the reporting obligation in the country in which the Amount up to the amount of the payment basis of the one-off payment. At the same time, the reporting obligation in accordance with § 6 for the underlying inflows is not required.

(5) The retaliatory effect referred to in paragraph 4 does not enter into force where:

1.		the assets from a budget for money laundering in accordance with § 165 (1) of the Criminal Code StGB, BGBl No. 60/1974, with the exception of § 33 iVm § § 38a or 39 of the Financial Criminal Law FinStrG, BGBl No. 129/1958, or
2.		at the date of notification referred to in paragraph 1
a)			a levy or financial penalty authority has already provided concrete indications of untaxed assets subject to the obligation to notify, and this was known to the person entitled to dispose of such assets;
b)			to be subject to tax investigations, or
c)			In this regard, the acts of persecution (§ 29 para. 3 lit. a FinStrG).
In such cases, a deposit paid shall be treated as a voluntary payment on the taxable amount of the person entitled to the right of disposal. Section 214 (1) of the Federal Tax Code BAO, BGBl No. 194/1961 applies analogously.

(6) Paragraph 4 has no effect on the calculation of the basis of the VAT own resources provided for in Regulation (EEC, Euratom) No 1553/89 on the definitive uniform system for the collection of VAT own resources.

(7) In so far as the claims for duty are waiving in accordance with paragraph 4 and 5, the penalty shall be exempted in respect of any related financial offtake.

Coverage

§ 9. (1) In the event that the account or custody account does not include an adequate amount of money in an account of the credit institution which is subject to the reporting obligation, the account holder must write to the account or debit holder in writing, setting a deadline of four weeks at the latest, but at the latest until 29 September 2016, call for a sufficient amount of money to be provided. At the same time, account or debit holders are to be informed of the obligation to report the capital inflow.

(2) If the credit institution cannot fully withhold the one-off payment due to a lack of liquid funds, the credit institution shall comply with its obligation to notify in accordance with § 6 after the expiry of the period referred to in paragraph 1.

Self-Show

§ 10. (1) If self-disclosure (§ 29 FinStrG) is refunded due to financial loss, which is based on a situation which has led to the formation of assets, the inflow of which is subject to reporting requirements in accordance with § 6, § 29 (3) (lit) is to be found. d FinStrG not to be applied.

(2) In the case of self-evidence in accordance with paragraph 1, a penalty-free effect shall only occur to the extent that an increase in the amount is also paid. Section 29 (6) of the FinStrG shall apply mutatily.

Part 4

Common provisions and final provisions

Authorisation

§ 11. With a regulation, the Federal Minister of Finance has to regulate the procedure for the transfer of the notifications by way of financial online in accordance with § § 3 and 6 in organisational and technical terms.

Procedures for the discharge authority

§ 12. (1) The tax authorities shall add incoming reports of capital outflows (§ 3) to the electronic documentation in accordance with § 114 (2) BAO; in addition, the reports may be used exclusively for an analysis for the purpose of combating fraud. Reconciliation of the data available via the taxable person in the tax act and for general supervisory measures in connection with this in accordance with § § 143 and 144 BAO or external audits according to § 147 BAO. The provisions of the Financial Criminal Law remain unaffected by this.

(2) The tax authorities shall have to add incoming notifications of capital inflows (§ 6) of the electronic documentation pursuant to § 114 paragraph 2 BAO and to examine without any gaps in the sense of Section 115 (1) BAO. The provisions of the Financial Criminal Law remain unaffected by this.

Criminal provisions

§ 13. (1) Any person who intentionally violates the reporting obligations of § § 3 and 6 shall be guilty of a financial offence and shall be punished with a fine of up to 200 000 euros.

(2) Anyone who is grossly negligent in the act referred to in paragraph 1 shall be punished with a fine of up to 100 000 euros.

(3) The financial proceedings referred to in paragraph 1 and (2) shall never be punished by the court.

(4) In order to carry out the financial criminal proceedings, the tax office responsible for the collection of the duties of the competent tax office responsible pursuant to § 1 shall be the financial authority. Section 58 (1) (lit). f last half-sentence of the Financial Criminal Law-FinStrG, BGBl. No 129/1958, shall apply mutatily.

Reference to other legislation

§ 14. Insofar as provisions of other federal laws are referred to in this Federal Act, these are to be applied in their respectively applicable version.

Personal names

§ 15. In so far as the names used in this Federal Act refer to natural persons, the chosen form shall apply to both sexes.

Override

§ 16. Reports under this federal law are the last time to reimburse capital outflows in December 2022.

Enforcement

§ 17. The Federal Minister of Finance is responsible for the enforcement of this federal law.

Article 4

Federal law implementing the common reporting standard for the automatic exchange of information on financial accounts (Common Reporting Standard-Law-GMSG)

table of contents

1. Main item General provisions
§ 1.	Implementation of Union law and a government convention
§ 2.	Application of reporting requirements
§ 3.	General Reporting Obligations
§ 4.	Date and form of notification
§ 5.	Identification of notifiable accounts and information of the persons to be reported
§ 6.	Dislocation of reporting requirements
2. Main piece General duty of care
§ 7.	Notifiable account
§ 8.	Use of service providers
§ 9.	Voluntary application of stricter standards
3. Main piece Due diligence in existing accounts of natural persons
Section 1 Low-value accounts
§ 10.	Scope of the section
§ 11.	Residence Address
§ 12.	Search in electronic records
§ 13.	Change of circumstances and account value
§ 14.	Presence of circumstantial evidence
§ 15.	Special provisions for post-storage orders or c/o-address
§ 16.	Dismissal of the situation in a participating State
Section 2 Identification of high value accounts
§ 17.	Scope of the section
§ 18.	Search in electronic records
§ 19.	Search in Paper Documents
§ 20.	Exception to the search in paper documents
§ 21.	Demand from the customer maintainer
§ 22.	Consequences of the detection of circumstantial evidence
§ 23.	Change to an account of high value
§ 24.	Revision of the Review
§ 25.	Change of circumstances
§ 26.	Recognition of changes in circumstances
Section 3 Review Period
§ 27.	The date of the first review
§ 28.	Period of notification of accounts
4. Main piece Due diligence in the case of new accounts of natural persons
§ 29.	Scope of the section
§ 30.	Self-disclosure
§ 31.	Failure in a participating State
§ 32.	Change of circumstances
5. Main piece Due diligence in existing accounts of legal entities
Section 1 Audit, identification and reporting obligations of accounts
§ 33.	Scope of the section
§ 34.	Accounts with a maximum value of $250 000
§ 35.	Audit-subject accounts
§ 36.	Notifiable accounts
§ 37.	Mandatory review procedures
§ 38.	Determination of whether the legal entity is a notifiable person
§ 39.	Determination of whether the legal entity is a certain passive NFE
Section 2 Review Period
§ 40.	Accounts for the equivalent of more than $250 000
§ 41.	Accounts with a maximum value of $250 000
§ 42.	Change of circumstances
6. Main piece Due diligence in the case of new accounts of legal entities
§ 43.	Scope of the main item
§ 44.	Review procedure
§ 45.	Determination of whether the legal entity is a notifiable person
§ 46.	Determination of whether the legal entity is a certain passive NFE
7. Main piece Special due diligence in connection with the application of rules of 3. to 6. Main item
§ 47.	Leave for self-information and receipts
§ 48.	Alternative procedures for insurance contracts
§ 49.	Reinsurable insurance contracts and pension insurance contracts
§ 50.	Group insurance contracts and group pension insurance contracts eligible for repurchase
§ 51.	Summary of accounts of natural persons
§ 52.	Summary of accounts of legal entities
§ 53.	Customer maintainer summary rule
8. Main piece Definitions
Section 1 The term "reporting financial institution"
§ 54.	reporting financial institution
§ 55.	Financial institution of a participating State
§ 56.	Financial Institution
§ 57.	Depositary
§ 58.	Deposit Institute
§ 59.	Investment firms
§ 60.	Financial assets
§ 61.	Specified insurance company
Section 2 The term "non-reporting financial institution"
§ 62.	Non-reporting financial institution
§ 63.	State legal entities
§ 64.	International Organization
§ 65.	Central Bank
§ 66.	Pension fund with broad participation
§ 67.	Low-participation pension funds
§ 68.	Pension funds of a national legal entity, an international organisation or a central bank
§ 69.	qualified credit card provider
§ 70.	Taken-out organism for joint installations
Section 3 The term "financial account"
§ 71.	Financial Account
§ 72.	Deposit Account
§ 73.	Custody account
§ 74.	Equity participation
§ 75.	Insurance contract
§ 76.	Pension insurance contract
§ 77.	Reinmarkable insurance contract
§ 78.	Cash Value
§ 79.	Existing Account
§ 80.	New Account
§ 81.	Existing account of natural persons
§ 82.	Natural person's new account
§ 83.	Existing account of legal entities
§ 84.	Low Value Account
§ 85.	Account of high value
§ 86.	New account of legal entities
§ 87.	Account taken out
Section 4 The term "notifiable account"
§ 88.	Notifiable account
§ 89.	Person subject to reporting
§ 90.	Person of a participating State
§ 91.	Participating State
§ 92.	Dominant persons
§ 93.	NFE (Non-Financial Entity)
§ 94.	Passive NFE
§ 95.	Active NFE
Section 5 Other definitions
§ 96.	Account Owner
§ 97.	Anti-money laundering procedure (AML/KYC)
§ 98.	Legal entities
§ 99.	Related entities
§ 100.	Control Identification Number
§ 101.	Evidence
§ 102.	Change of circumstances
§ 103.	Guided Accounts
§ 104.	Electronically searchable data
§ 105.	Customer roots
§ 106.	Currency translation
9. Main piece Criminal provisions
§ 107.	Breach of notification duty
§ 108.	Breach of due diligence obligation
§ 109.	Exclusion of legal proceedings
§ 110.	Responsibility
§ 111.	Responsibility for monitoring compliance with due diligence and reporting obligations
10. Main piece Transmission and forwarding of information
§ 112.	Transmission of notified information to foreign authorities
§ 113.	Forwarding of foreign information to the competent tax authorities
11. Main piece Final provisions
§ 114.	References to other legislation
§ 115.	Personal names
§ 116.	Enforcement
§ 117.	entry into force

1. Main item

General provisions

Implementation of Union law and a government convention

§ 1. (1) This Federal Act regulates the implementation of mutual assistance between Austria and the other Member States of the European Union (Member States) within the framework of the global standard for the automatic exchange of information on financial accounts in Tax matters on the basis of Directive 2011 /16/EU on administrative cooperation in the field of taxation and repealing Directive 77 /799/EEC, OJ L 73, 27.2.1977, p. No. OJ L 64 of 11.03.2011 p. 1, as last amended by Directive 2014 /107/EU, OJ L 327, 28.12.2014, p. No. OJ L 359, 16.12.2014, p. 1 ('the Mutual Assistance Directive ').

(2) This federal law also regulates the implementation of mutual assistance between Austria and other non-member states within the framework of the global standard for the automatic exchange of information on financial accounts in tax matters.

Application of reporting requirements

§ 2. The provisions of this Federal Act concerning the identification of notifiable accounts and the reporting of the relevant financial information shall apply irrespective of other legal provisions.

General Reporting Obligations

§ 3. (1) Subject to § 6, each reporting financial institution shall report to the tax office responsible for the collection of the corporate income tax of the notifying financial institution for each account of the reporting financial institution which is responsible for the collection of the corporate income tax of the reporting financial institution. Information:

1.		by any person who is subject to notification and who is the account holder
a)			Name,
b)			Address,
c)			Country of State (s),
d)			Control identification number (s), and
e)			date of birth and place of birth (in the case of natural persons),
2.		by each legal entity, the account holder, and for which one or more dominant persons (s) who are notifiable persons have been identified in accordance with the procedures for performing the due diligence procedures in accordance with § § 33 to 53
a)			Name,
b)			Address,
c)			State (s) and (if any) other countries of the countries of the States and other countries of the
d)			the tax identification number (s);
e)			as well as any person subject to the reporting
aa)				Name,
bb)				Address,
cc)				Country of State (s)
dd)				Control identification number (s), and
ee)				Date of birth and place of birth.

(2) Weiters shall report the following information:

1.		the account number or its functional equivalent, if there is no account number;
2.		the name and the Austrian tax identification number of the notifying financial institution;
3.		the account balance or value (including the cash value or the repurchase value in the case of repurchase insurance or pension insurance contracts) at the end of the calendar year in question, or, if the account is over the course of the year or period, dissolved, the resolution of the account.

(3) In addition to the information referred to in paragraphs 1 and 2, in the case of depositary accounts, the following information shall be reported:

1.		the total gross amount of the interest, the total gross amount of the dividends and the total gross amount of other income generated by the assets held in the account and in each case on the account (or in relation to the account) during the course of the calendar year, or credited to the account, and
2.		the total gross proceeds from the sale or repurchase of financial assets which have been paid into the account or credited to the account during the calendar year and for which the reporting financial institution is a depositary, broker, Authorized representative or otherwise worked as a representative for the account holder.

(4) In addition to the information referred to in paragraphs 1 and 2, in deposit accounts, the total gross amount of interest paid to the account or credited to the account during the calendar year shall be reported.

(5) In addition to the information referred to in paragraphs 1 and 2, the total gross amount paid to the account holder in respect of the account during the calendar year shall be the total gross amount paid to the account holder in respect of all other accounts not falling under par. 3 or 4. has been credited and for which the reporting financial institution is debtor, including the total amount of any redemption amounts made to the account holder during the calendar year.

(6) In the information reported, it is necessary to mention the currency to which the amounts are denominated.

Date and form of notification

§ 4. (1) Melting financial institutions shall submit the notification by the end of the month of June of each calendar year for the reporting period prior to that calendar year. The transmission must be carried out electronically. The Federal Minister of Finance shall be authorized to determine the content and the procedure for electronic transmission by Regulation. The declaration shall be deemed to be a declaration of duty.

(2) § 112 (2) shall apply mutatily.

Identification of notifiable accounts and information of the persons to be reported

§ 5. (1) For the implementation of this Federal Act, any reporting financial institution shall be entitled to do so in accordance with § 3 or § 12 to identify, collect, store and process information for all account holders and other customers in respect of all existing accounts and all new accounts, whether or not the account holder or the account holder is other customers who are a notifiable person within the meaning of this Act.

(2) Each reporting financial institution shall, prior to the first-time transmission of the information to the competent tax office, communicate in general terms, in accordance with § 3 of each data subject, or make it available that the information determined in accordance with this Act shall be: Information is transmitted to the tax office in so far as required by this Federal Act.

Dislocation of reporting requirements

§ 6. (1) In accordance with § 3 (1), the tax identification number (s) and the date of birth must not be reported in relation to notifiable accounts, which are existing accounts, if this tax identification number (s) or this is the case. Date of birth shall not be included in the documents of the reporting financial institution and shall not be recognised by that reporting financial institution under national law or other legal instruments of the Union. However, a reporting financial institution shall be required to make reasonable efforts to ensure that, in existing accounts, the tax identification number (s) and the date of birth until the end of the second calendar year following the year in which Existing accounts have been identified as notifiable accounts.

(2) In accordance with § 3 (1), the tax identification number shall not be notified if a tax identification number is not issued by the country in which the person concerned is concerned.

(3) In accordance with § 3 (1), the place of birth is not to be reported unless:

1.		the reporting financial institution has or had to procure and report it under national law, or has the reporting financial institution, or had it in accordance with a valid or applicable law, or on the 5. Jänner 2015, to procure and report the Union's legal instrument and
2.		it is available in the electronically searchable data of the reporting financial institution.

2. Main piece

General duty of care

Notifiable account

§ 7. (1) An account shall be deemed to be a notifiable account from the day on which it is identified as such in accordance with the procedures for the performance of the due diligence obligations in § § 7 to 53 and, unless otherwise provided, the information shall be related to: a notifiable account shall be reported annually in the calendar year following the year to which the information relates.

(2) The balance or value of an account shall be determined on the last day of the calendar year.

(3) Where a balance or value limit is to be determined on the last day of a calendar year, the balance or value in question shall be determined on the last day of the reporting period ending with that calendar year or within that calendar year.

Use of service providers

§ 8. Each reporting financial institution may take advantage of service providers to fulfil the reporting and due diligence obligations imposed on it. In such a case, the reporting financial institution shall remain responsible for the performance of its duties.

Voluntary application of stricter standards

§ 9. Each reporting financial institution may:

1.		apply the due diligence procedures applicable to new accounts to existing accounts, or
2.		apply the procedures applicable to accounts of high value for the purpose of carrying out due diligence on accounts of low value.

3. Main piece

Due diligence in existing accounts of natural persons

Section 1
Identification of low-value accounts

Scope of the section

§ 10. The procedures laid down in § § 11 to 16 shall apply to accounts of low value.

Residence Address

§ 11. (1) If, on the basis of the evidence collected, the reporting financial institution shall have a current address of residence of the natural person who is the holder of the account, the reporting financial institution may the natural person who is the account holder, in order to determine whether such a person is the holder of the account. A person who is an account holder who is a notifiable person, is treated as a tax resident in Austria or another State in which the address is located.

(2) In any case, the reporting financial institution may treat a person subject to the notification as tax resident in a State where the address of residence recorded in the account opening documents is situated in that State which is the person referred to in paragraph 1 above. has been issued.

(3) The reporting financial institution may issue a current residence address in Austria if, in the context of the identification of the customer by means of anti-money laundering procedures (AML/KYC), an Austrian authority is required to address issued photo ID and no current home address pointing to another country.

Search in electronic records

§ 12. If the reporting financial institution does not rely on recorded supporting documents in respect of a current residence address of the natural person, which is the account holder, the reporting financial institution shall have to submit its electronically searchable data to Check the following circumstantial evidence and apply § § 13 to 16:

1.		Identification of the account holder as a resident of a participating State,
2.		current postal address or address of residence (including a postal address) in a participating State,
3.		one or more phone numbers in a participating state and no telephone number in Austria,
4.		Permanent contract (except for deposit accounts) for transfers to an account held in a participating State,
5.		Currently valid proxy or subscription rights granted to a person with address in a participating State, or
6.		a post-storage order or a c/o address in a participating country, provided that the reporting financial institution does not have a different address of the account holder.

Change of circumstances and account value

§ 13. (1) If no circumstantial evidence within the meaning of § 12 is found in the electronic search, no further measures are required until a change in circumstances occurs which causes the account to be assigned one or more circumstantial evidence. or the account will become an account of high value.

(2) If a reporting financial institution has relied on the verification of the address of residence as referred to in § 11, it shall change the circumstances on the basis of which the reporting financial institution is known or would have to be aware that the original receipts (or other equivalent documents) are not applicable or unbelievable, the reporting financial institution must either be up to the last day of the relevant calendar year, or 90 calendar days after notification or determination such a change in circumstances-depending on which date is later-a Obtain self-information and new documents to determine the tax (s) of the account holder. If, up to this date, the reporting financial institution cannot procure self-disclosure and no new documents, it must carry out the search in electronic records as described in § § 12 to 16.

Presence of circumstantial evidence

§ 14. Where the electronic search detects circumstantial evidence within the meaning of Article 12 (1) to (5) or changes in circumstances which result in the account being assigned to one or more evidence, the reporting financial institution shall: Account holder as a taxable person in each participating State for which an indication is identified, unless it decides to apply § 16 and one of the exceptions mentioned there shall apply to that account.

Special provisions for post-storage orders or c/o-address

§ 15. If a post-storage order or a c/o-address and no other address and any of the indications referred to in § 12 Z 1 to 5 are found for the account holder in the electronic search, the reporting financial institution shall apply in the respective the most appropriate order in which the search is carried out in paper documents in accordance with § 19 or an attempt is made to obtain a self-disclosure or supporting document from the account holder in order to determine the tax (s) of the account holder's tax (s). If no indication is found in the search in paper documents and the attempt to obtain a self-disclosure or supporting evidence is unsuccessful, according to § 4 the reporting financial institution shall report to the tax office responsible pursuant to section 3 (1) the account as not a documented account.

Dismissal of the situation in a participating State

§ 16. Notwithstanding the determination of circumstantial evidence in accordance with § 12, a reporting financial institution shall, however, not be entitled to consider an account holder not to be a resident of a participating State in the following cases:

1.		The data of the account holder shall contain a current postal address or residence address in that participating State, one or more telephone numbers in that participating State (and no telephone number in Austria) or a standing order (at Financial accounts with the exception of deposit accounts) for transfers to an account held in a participating State and the reporting financial institution procures the following documents or has already examined them and recorded them:
a)			a self-disclosure by the account holder of his or her country of origin (s) which do not include the participating State; and
b)			Evidence of the non-reporting status of the account holder.
2.		The data of the account holder shall include a currently valid proxy or subscription rights granted to a person with address in that participating State, and the reporting financial institution shall procure the following documents or have them already checked and recorded:
a)			a self-disclosure of the account holder through his or her state (s) or other state (s) not including the participating State; or
b)			Evidence of the non-reporting status of the account holder.

Section 2

Identification of high value accounts

Scope of the section

§ 17. The extended review procedures regulated in § § 18 to 26 shall apply to accounts of high value.

Search in electronic records

§ 18. For accounts of high value, the reporting financial institution must check its electronically searchable data for the circumstantial evidence listed in § 12.

Search in Paper Documents

§ 19. If the electronically searchable databases of the reporting financial institution contain fields for all the information referred to in § 20 and collect them, no further search is required in the paper documents. Where all such information is not collected in the electronic databases, the reporting financial institution shall, in the case of accounts of high value, also have the current customer base and, where the information is not contained therein, the following: -review the evidence referred to in § 12 of the evidence provided by the reporting financial institution within the last five years:

1.		the latest evidence collected for this account,
2.		the latest account opening contract or the latest account opening documents,
3.		the latest records procured by the reporting financial institution on the basis of anti-money laundering procedures (AML/KYC) or other supervisory purposes;
4.		currently valid authority or drawing authority and
5.		currently valid permanent contract for credit transfers (except for deposit accounts).

Exception to the search in paper documents

§ 20. A reporting financial institution shall not be obliged to search on paper documents in accordance with § 19, provided that its electronically searchable information contains:

1.		the status of the account holder,
2.		the residence address and postal address of the account holder, which is currently deposited with the reporting financial institution,
3.		where applicable, the telephone number (s) of the account holder, which are currently deposited with the reporting financial institution;
4.		in the case of financial accounts which are not deposit accounts, information on whether there is a standing order for transfers from that account to another account (including an account at another branch of the notifying parties) financial institution or any other financial institution),
5.		Information on whether the account holder currently has a post-storage order or a c/o-address, and
6.		Whether you have a power of authority or a drawing authority for the account.

Demand from the customer maintainer

§ 21. In addition to the search in electronic records and paper documents in accordance with § 18 and § 19, a reporting financial institution must have a high-value account assigned to a customer maintainer (including the one with this account of high value If the account holder is aware that the account holder is a notifiable person, the account must be considered as a notifiable account.

Consequences of the detection of circumstantial evidence

§ 22. (1) In the case of the extended review of accounts of high value described in this section, none of the circumstantial evidence listed in § 12 is identified and the account is not identified as an account of a notifiable person on the basis of § 21. No further action is required until a change in circumstances occurs, which causes the account to be assigned one or more circumstantial evidence.

(2) If, on the other hand, the enhanced verification of accounts of high value described in this section is determined in accordance with § 12 Z 1 to 5, or if there is subsequently a change in the circumstances which results in the account being entered into the account, or , the reporting financial institution must consider the account as a reporting account for each participating State for which an indication is established, unless it is decided to apply § 16 and one of the exceptions mentioned in § 16 shall apply to this account.

(3) In the extended review of accounts of high value described in this section, a post-storage order or a c/o address shall be established and no other address and none of the indications referred to in § 12 Z 1 to 5 shall be used for the Account holder shall establish the reporting financial institution by the account holder to obtain a self-disclosure or supporting evidence in order to determine the tax (s) of the account holder. If the reporting financial institution cannot procure self-information or receipts, it must report the account to the tax office responsible pursuant to section 3 (1) as an undocumented account in accordance with § 4.

Change to an account of high value

§ 23. However, in the case of an existing account of natural persons, which is not an account of high value as of September 30, 2016, but is an account of high value on the last day of a subsequent calendar year, the reporting financial institution shall be required to: shall complete the extended review procedure for that account within the calendar year following the calendar year in which the account becomes an account of high value. If the account is identified as a reporting account on the basis of this review, the reporting financial institution shall provide the necessary account-related information for the year in which the account is identified as a reporting account and for The following years shall be reported annually unless the account holder is no longer a notifiable person.

Revision of the Review

§ 24. If a reporting financial institution carries out the enhanced verification procedure for an account of high value referred to in this section, it shall not be obliged in the following years to re-apply those procedures for the same account of high value , except in the case of a customer maintainer in accordance with § 21, unless it is an undocumented account where the reporting financial institution has to re-implement these procedures annually until the account no longer is undocumented.

Change of circumstances

§ 25. (1) If, in the case of an account of a high value, a change in circumstances causes the account to be associated with one or more of the circumstantial evidence described in § 12, the reporting financial institution shall have the account for each participating State, for which an indication is determined, consider it as a notifiable account, unless it is decided for the application of § 16 and one of the exceptions mentioned in that account shall be applicable to this account.

(2) The reporting financial institution may, in the event of a change in circumstances for the revocation of the situation in a participating State in accordance with § 16, an account of high value for a period of 90 calendar days from the date on which the change the situation has occurred, as if there had been no change in circumstances.

Recognition of changes in circumstances

§ 26. A reporting financial institution must set up procedures to ensure that the customer maintainers identify changes to the circumstances of an account. For example, if a customer adviser is notified that the account holder has a new postal address in a participating State, the reporting financial institution must consider the new address as a change in circumstances and, if so, shall decide to apply § 16, to obtain the relevant documents from the account holder.

Section 3

Review Period

The date of the first review

§ 27. The review of existing accounts of high value of natural persons must be completed by 31 December 2017. The review of existing accounts of lower value of natural persons must be completed by 31 December 2018.

Period of notification of accounts

§ 28. An existing account of natural persons, which has been identified as a notifiable account after this item, shall be deemed to be a reporting account in all subsequent years, unless the account holder is no longer a notifiable person.

4. Main piece

Due diligence in the case of new accounts of natural persons

Scope of the section

§ 29. The procedures laid down in § § 30 to 32 shall apply to the identification of notifiable accounts under the new accounts of natural persons.

Self-disclosure

§ 30. (1) In the case of new accounts of natural persons, the reporting financial institution must, in the event of an account opening, procure a self-disclosure which may form part of the account opening documents and on the basis of which the reporting financial institution shall be subject to tax (s). the account holder (s) may, as well as the plausibility of such self-disclosure, on the basis of the information provided by the reporting financial institution in the event of an opening of the account, including the information provided on the basis of procedures for combating the Money laundering (AML/KYC) documents, confirm.

(2) An account opening may only take place if the self-information is present.

Failure in a participating State

§ 31. If it is clear from the self-disclosure that the account holder is tax-resident in a participating State, the reporting financial institution must consider the account as a reporting account and the self-disclosure also includes the The tax identification number of the account holder in the participating State (subject to § 6 (2)) and the date of birth.

Change of circumstances

§ 32. (1) In the case of a new account of natural persons, a change in the circumstances on the basis of which the reporting financial institution is known or would have to be known that the original self-information is not accurate or unbelievable, shall be deemed to have been: it must not rely on the original self-disclosure and must obtain a valid self-information from which the tax (s) of the account holder can be declared or not. .

(2) In the event of a change in circumstances, the reporting financial institution may, up to the date of obtaining a valid self-disclosure, a new account for a period of not more than 90 calendar days from the date on which the change in circumstances shall be treated as if no change in circumstances had occurred.

5. Main piece

Due diligence in existing accounts of legal entities

Section 1
Audit, identification and reporting obligations of accounts

Scope of the section

§ 33. The procedures laid down in § § 34 to 39 shall apply to the identification of notifiable accounts under the existing accounts of legal entities.

Accounts with a maximum value of $250 000

§ 34. Unless the reporting financial institution decides otherwise, either for all or in each case for a clearly identified group of existing accounts of entities, an existing account must be given by legal entities, which is due to take place on 30 September 2016. has a total account balance or value of not more than US$ 250,000, not verified, identified or reported as a reporting account until the total account balance or value for the last day of a subsequent The calendar year shall exceed this amount.

Audit-subject accounts

§ 35. An existing account of entities with a total account balance or value of more than $250,000 as of September 30, 2016, and an existing account of entities whose total account balance or value as of September 30, 2016 this However, the amount not exceeding that amount for the last day of a subsequent calendar year shall be notified in accordance with the procedures laid down in § § 37 to 39.

Notifiable accounts

§ 36. The existing accounts within the meaning of Section 35 shall only be applicable to accounts held by accounts held by one or more entities which are persons subject to notification or from passive NFEs with one or more accounts. Dominant persons who are notifiable persons.

Mandatory review procedures

§ 37. In the case of the existing accounts in accordance with § 35, a reporting financial institution must carry out the verification procedures in accordance with § 38 and § 39 in order to determine whether one or more notifiable person (s) or passive NFEs with one or more dominant Person (s) who are notifiable persons, account holders are/are.

Determination of whether the legal entity is a notifiable person

§ 38. (1) The reporting financial institution must provide information (including information collected on the basis of anti-money laundering procedures (AML/KYC) for prudential purposes or for customer service purposes). verify that the account holder is established in a participating State. For this purpose, a place of establishment, a registered office or an address in a participating State shall be deemed to indicate that the account holder is established in a participating State.

(2) In the event that the account holder is established in a participating State, the reporting financial institution shall consider the account as a reporting account unless the reporting financial institution procures the account Account holder shall establish self-disclosure or, on the basis of information in its possession or publicly available, it shall reasonably determine that the account holder is not a notifiable person.

Determination of whether the legal entity is a certain passive NFE

§ 39. In the case of an account holder of an existing account of entities (including a legal entity which is a notifiable person), the reporting financial institution shall determine whether the account holder is a passive NFE with one or more a dominant person (s) who are notifiable persons. If a person in charge of a passive NFE is a notifiable person, the account must be considered as a notifiable account. In the case of these findings, the reporting financial institution must comply with the guidelines referred to in points 1 to 3, in the most appropriate order.

1.		Determination of whether the account holder is a passive NFE: To determine whether the account holder is a passive NFE, the reporting financial institution must obtain a self-disclosure of the account holder to prove its status, unless the reporting date is Financial institution may, on the basis of information in its possession or publicly available information, determine in a reasonable manner that the account holder is an active NFE or a financial institution other than an investment company in accordance with § 59 Article 1 (2), which is not a financial institution of a participating State .
2.		Determination of the controlling persons of an account holder: To determine the dominant persons of an account holder, a reporting financial institution may be made up to the person established under the anti-money laundering procedure (AML/KYC) and you are leaving information.
3.		Determination of whether a dominant person of a passive NFE is a notifiable person: To establish whether a dominant person of a passive NFE is a notifiable person, a reporting financial institution may rely on the following: Exit:
a)			in the case of an existing account of entities the holder of which is/are one or more NFE (s) and whose total account or value does not exceed an amount equivalent to 1 000 000 US dollars, to which the account shall be based on the procedures for combating Money laundering (AML/KYC) collected and held information, or
b)			on a self-disclosure of the account holder or of that dominant person from the participating State (s) or other State (s) in which the controlling person is a tax-resident.

Section 2

Review Period

Accounts for the equivalent of more than $250 000

§ 40. The review of existing accounts of entities with a total account balance or value of an amount in the equivalent of more than $250,000 as of September 30, 2016 must be completed by December 31, 2018.

Accounts with a maximum value of $250 000

§ 41. However, the review of existing accounts of entities whose total account balance or value as at 30 September 2016 does not exceed an amount in the equivalent of $250 000, but at 31 December of a subsequent year exceeds this amount, must: within the calendar year after the year in which the total account balance or value exceeds that amount.

Change of circumstances

§ 42. Where existing accounts of entities are subject to changes in circumstances in which the reporting financial institution is aware of or should be aware that the self-disclosure or other account-related documents are not applicable, or to be unbelievable, it must redefine the status of the account in accordance with the procedures laid down in § § 37 to 39.

6. Main piece

Due diligence in the case of new accounts of legal entities

Scope of the main item

§ 43. The procedures laid down in § § 44 to 46 shall apply to the identification of notifiable accounts under the new accounts of legal entities.

Review procedure

§ 44. (1) In the case of new accounts of entities, a reporting financial institution must carry out the verification procedures in accordance with § § 45 and 46 in order to determine whether the account of one or more notifiable person (s) or of passive NFEs with one or more notifiable persons (s) A number of dominant persons (s) who are notifiable persons.

(2) An account opening may only take place if the self-information is present.

Determination of whether the legal entity is a notifiable person

§ 45. (1) The reporting financial institution shall procure a self-disclosure which may form part of the account opening documents and on the basis of which the reporting financial institution can determine the tax (s) of the account holder's tax (s), and the Plausibility of this self-disclosure based on the information provided by the reporting financial institution at the opening of the account, including the documents collected under the Anti-Money Laundering Procedures (AML/KYC) procedure. If the legal entity declares that there is no fiscal admissibility, the reporting financial institution may rely on the address of the main office of the legal entity in order to determine the default of the account holder.

(2) If the self-disclosure indicates that the account holder is resident in a participating State, the reporting financial institution must consider the account as a reporting account, unless the reporting financial institution uses the information in its possession or publicly available information in a reasonable manner that the account holder is not a notifiable person within the meaning of this law.

Determination of whether the legal entity is a certain passive NFE

§ 46. In the case of an account holder of a new account of entities (including a legal entity which is a notifiable person), the reporting financial institution shall determine whether the account holder is a passive NFE with one or more dominant The person (s) who are notifiable persons. If a person in charge of a passive NFE is a notifiable person, the account must be considered as a notifiable account. In the case of these findings, the reporting financial institution shall follow Z 1 to 3 in the most appropriate order.

1.		Determination of whether the account holder is a passive NFE: To determine whether the account holder is a passive NFE, the reporting financial institution must rely on a self-disclosure of the account holder to prove its status, unless that The reporting financial institution may, on the basis of information in its possession or publicly available, determine in a reasonable manner that the account holder is an active NFE or a financial institution other than an investment undertaking in accordance with Section 59 (1) (2), which is not a financial institution of a participating State .
2.		Determination of the controlling persons of an account holder: To determine the dominant persons of an account holder, a reporting financial institution may be made up to the person established under the anti-money laundering procedure (AML/KYC) and you are leaving information.
3.		Determining whether a dominant person of a passive NFE is a notifiable person: In order to determine whether a dominant person of a passive NFE is a notifiable person, a reporting financial institution may rely on only one person. Leave the account holder or this dominant person's self-disclosure.

7. Main piece

Special due diligence in connection with the application of rules of 3. to 6. Main item

Leave for self-information and receipts

§ 47. A reporting financial institution may not rely on self-disclosure or evidence if it is known or has to be aware that the self-disclosure or supporting documents are not accurate or unbelievable.

Alternative procedures for insurance contracts

§ 48. (1) Natural persons beneficiary of financial accounts

1.		a repurchase-capable insurance contract, or
2.		a pension insurance contract or
3.		Group insurance contracts eligible for repurchase (para. 2) or
4.		Group pension insurance contracts (para. 3)
Alternative procedures (§ § 49 and 50) are provided for.

(2) The term "reinsurable group insurance contract" means a repurchase-capable insurance contract which:

1.		provides cover for natural persons who are connected through an employer, a professional association, a workers ' organisation or another group or group; and
2.		for each member of the group (or a member of a category within that group), the payment of an insurance contribution, which is independent of the health characteristics of the natural person, with the exception of age, sex and tobacco consumption; of the member (or the member category) of the group.

(3) The term "group pension insurance contract" means a pension insurance contract in which the eligible persons are natural persons who have an employer, a professional association, a workers ' organisation or another Association or group.

Reinsurable insurance contracts and pension insurance contracts

§ 49. A reporting financial institution may assume that a beneficiary natural person (with the exception of the owner) of a repurchase-eligible insurance contract or a pension insurance contract receiving a death penalty shall not be entitled to is a notifiable person and regard this financial account as a non-reporting account, unless the reporting financial institution is known or it should be known that the beneficiary is a notifiable person. A reporting financial institution would have to be aware that a beneficiary of a repurchase insurance contract or a pension insurance contract is a notifiable person when the reporting financial institution and the reporting financial institution are The information contained in the beneficiary shall contain information in accordance with § § 11 to 16. If a reporting financial institution is actually known or if it should be aware that the beneficiary is a notifiable person, the reporting financial institution must comply with the procedures set out in § § 11 to 16.

Group insurance contracts and group pension insurance contracts eligible for repurchase

§ 50. A reporting financial institution may be a financial account representing the share of a member of a repurchase-eligible group insurance contract or a group pension insurance contract until the date on which the payment of an amount is paid to the Employees/holders of the insurance bill or beneficiaries are due to treat as a non-reporting account, provided that the financial account, which is the share of a member in a repurchase-able group insurance contract or a Group pension insurance contract, the following requirements meets:

1.		the group insurance contract or the group pension insurance contract is issued to an employer and extends to at least 25 employees or insurance certificate holders,
2.		the workers/policyholders shall be entitled to a contract value corresponding to their share and shall appoint beneficiaries to which the benefits shall be payable in the event of the worker's life being held, and
3.		the total amount to be paid to an employee/policyholder or beneficiary shall not exceed an amount equal to the equivalent of 1 000 000 US dollars.

Summary of accounts of natural persons

§ 51. For the purposes of determining the total aldos or value of financial accounts of a natural person, a reporting financial institution shall sum up all financial accounts which it is holding, but only in so far as the computerised systems of the financial accounts of a natural person shall be: to link financial accounts by reference to a data item such as a customer number or tax identification number, and to provide a summary of account balances or values.

(2) For the purposes of applying the summary provision of paragraph 1, each holder of a common financial account shall be attributed the total balance or value of the common financial account.

Summary of accounts of legal entities

§ 52. For the purpose of determining the total aldos or value of financial accounts of entities, a reporting financial institution shall take into account all financial accounts which it administers, but only in so far as the computer-based systems of the reporting Financial institution shall link financial accounts by reference to a data item such as a customer number or tax identification number, and provide a summary of the account balances or values.

(2) For the purposes of applying the summary provision of paragraph 1, each holder of a common financial account shall be attributed the total balance or value of the common financial account.

Customer maintainer summary rule

§ 53. For the purpose of determining the total aldos or value of a person's financial accounts to determine whether a financial account is a high value account, a reporting financial institution shall be in the case of financial accounts where a financial account is The customer is aware of or should be aware of the fact that they belong directly or indirectly to the same person, have the same person, or have been opened by the same person (except in a fiduciary capacity), to summarize all these accounts.

8. Main piece

Definitions

Section 1
The term "reporting financial institution"

Reporting financial institution

§ 54. (1) The term "reporting financial institution" means an Austrian financial institution, which is not a non-reporting financial institution.

(2) The term "Austrian financial institution" means:

1.		a financial institution established in Austria, but not branches of that financial institution located outside Austria; or
2.		a branch of a financial institution not established in Austria, if it is located in Austria.

Financial institution of a participating State

§ 55. (1) The term "financial institution of a participating State" means:

1.		a financial institution established in a participating State, but not branches of that financial institution which are outside the participating State; or
2.		a branch of a financial institution not established in a participating State, provided that the financial institution is located in that participating State.

(2) A financial institution shall be "established" in a participating State if it is subject to the jurisdiction of the participating State (that is, the participating State may enforce the reporting obligations of the financial institution). In general, if a financial institution is tax-resident in a participating State, it is subject to the jurisdiction of that participating State and is thus a financial institution of a participating State. A trust which is a financial institution shall be deemed to be the sovereign of a participating State (irrespective of whether it is resident in a participating State) if one or more of its trustees in the participating State are in the participating State. state, unless the trust reports all the information required under this Directive to any other participating State via accounts subject to reporting by the Trust, because it is in that other participating State is a tax-resident. However, where a financial institution (with the exception of trusts) has no fiscal law (for example, because it is considered to be tax-transparent or is established in a State which does not collect income tax), it shall be deemed to be the sovereign power of a shall be a financial institution of a participating State, provided that the following conditions are met:

1.		it is registered in accordance with the law of the participating State;
2.		it shall have the place of its management (including the actual management) in the participating State, or
3.		it is subject to financial supervision in the participating State.
Where a financial institution (with the exception of trusts) is established in two or more participating States, the reporting and due diligence obligations of the State in which it conducts the financial accounts shall apply.

Financial Institution

§ 56. The term "financial institution" means a depositary institution (§ 57), a deposit institution (§ 58), an investment company (§ 59) or a specified insurance company (§ 61).

Depositary

§ 57. The term "depositary institution" means a legal entity whose business activities are essentially to preserve financial assets for foreign account. The business activity of a legal entity is essentially to preserve financial assets for foreign accounts if the gross income of the financial assets and related financial services is attributable to the financial assets of the legal entity. Legal entities shall be at least equal to 20% of the gross income of the legal entity, either

1.		during the three-year period ending on 31 December (or the last day of an accounting period not corresponding to a calendar year) before the end of the year of destination; or
2.		during the period of existence of the legal entity,
depending on which period is shorter.

Deposit Institute

§ 58. The term "deposit institution" means a legal entity which receives deposits in the context of ordinary banking transactions or similar business activities.

Investment firms

§ 59. (1) The term 'investment firm' means a legal entity;

1.		which mainly carries out one or more of the following activities for a customer:
a)			trading in money market instruments (for example cheques, bills of exchange, certificates of deposit, derivatives), foreign exchange, exchange rate, interest rate and index instruments, transferable securities or commodity futs transactions,
b)			individual and collective asset management, or
c)			other types of investment or management of financial assets or capital on behalf of third parties
		or
2.		the gross income of which is to be attributed mainly to the installation or reinvestment of financial assets or to trading, if the legal entity is administered by another entity, which is a deposit institution, a depositary institution, a specified insurance company or an investment company within the meaning of Z 1.

(2) A legal entity carries out, for the most part, one or more activities within the meaning of Section 1 (1) (1), or the gross income of a legal entity is primarily the installation or reinvestment of financial assets or trade in the sense of in accordance with paragraph 1 (1) (2), if the gross income of the legal entity to be attributed to the corresponding activities is at least 50% of the gross income of the legal entity, either:

1.		during the three-year period ending on 31 December of the year preceding the year of destination, or
2.		during the period of existence of the legal entity,
depending on which period is shorter.

(3) The term "investment enterprise" does not include a legal entity which is an active NFE in the light of the fulfilment of the criteria in § 95 Z 4 to 7.

(4) (1) to (3) shall be interpreted in such a way as to include the similar wording of the definition of "financial institution" in the recommendations of the Financial Action Task Force on Money Laundering (FATF) is compatible.

Financial assets

§ 60. (1) The term "financial assets" shall include:

1.		securities, such as shares in the share capital of a capital company, shareholdings or economic ownership of the shareholdings in a privately held or listed personnel company, or a trust, and Bonds, bonds, bonds or other school-durations,
2.		participations in partnerships, commodity transactions, swaps (such as interest rate swaps, currency swaps, bastion swaps, interest rate swaps, commodity swaps, stock swaps, stock index swaps, and similar agreements),
3.		insurance or pension insurance contracts; or
4.		Shareholdings (including exchange-traded and non-exchange-traded futures and options) in securities, shareholdings in partnerships, commodities, swaps, insurance or pension insurance contracts.

(2) The term "financial assets" does not include any non-leveraged direct real estate participations.

Specified insurance company

§ 61. The term "specified insurance company" means a legal entity which is an insurance company (or the holding company of an insurance company) which has a repurchase-able insurance contract or a pension insurance contract, or is required to make payments in respect of such a contract.

Section 2

The term "non-reporting financial institution"

Non-reporting financial institution

§ 62. The term "non-reporting financial institution" means a financial institution which is the following:

1.		a national legal entity, an international organisation or a central bank, except in the case of payments arising out of an obligation relating to commercial financial activities to which a specified insurance company, of a depositor or a deposit institution;
2.		an old-age pension fund, a low-participation pension fund, a pension fund of a national legal entity, an international organisation or a central bank, or a qualified Credit card providers,
3.		another legal entity where there is a low risk of being abused for tax evasion and having essentially similar characteristics to those referred to in Z 1 and Z 2. The Federal Minister of Finance is authorized to lay down a regulation to determine which legal entities fulfil these conditions.
4.		an excluded organism for joint installations, or
5.		a trust, to the extent that the trustee of the trusts is a reporting financial institution and all after the 1. Report the main piece of information on all the trusts ' accounts subject to reporting.

State legal entities

§ 63. (1) The term "State entity" means the government of a participating State or other State, a local authority of a participating State or other State (including a member state, a province, (a) a district or municipality), or an authority or body situated in the sole ownership of a participating State or other State, or of one or more of the local authorities (each of which is a "State of State"). Legal entities "). This category consists of the main bodies, the right-holders and local authorities of a participating State or other State.

(2) A "essential entity" of a participating State or State shall mean, irrespective of its name, a person, organisation, authority, office, fund, institution or other body which shall: Government authority of a participating State or other State. The net income of the government authority must be credited to its own account or other accounts of the participating State or other State, without any part of it being granted to a private person. A substantial body does not include a natural person who is a government representative, official or custodian acting in his capacity as a private person.

(3) A "dominant legal entity" means a legal entity which is formally separated from the participating State or other State or is otherwise a separate legal entity, provided that:

1.		the legal entity is located directly or through one or more dominant entities in exclusive ownership and under the control of one or more State entities,
2.		the net income of the legal entity is credited to its own account or to the accounts of one or more State entities, without any part of its income being granted to a private person,
3.		the assets of the legal entity at its dissolution fall into one or more State entities.

(4) Income shall not benefit private individuals if they are the intended beneficiaries of a government programme and the programme activities are exercised for the general public in the interest of the common good, or relating to the administration of a government domain. However, notwithstanding the above provisions, income shall be deemed to be income which individuals benefit from when they come from commercial activities carried out through a public entity, such as commercial banking transactions, in which financial services are provided to private individuals.

International Organization

§ 64. The term "international organisation" means an international organisation or an authority or entity in its sole ownership. This category includes an intergovernmental organisation (including a national organisation),

1.		which is mainly made up of governments,
2.		which has concluded a seat agreement or a substantially similar agreement with Austria or a participating State, and
3.		whose income does not benefit private individuals.

Central Bank

§ 65. The term "central bank" means an institution which, on the basis of the law or a government permit, is the supreme authority for issuing as the currency, in addition to the government of Austria or of a participating State. Payment appropriations. This institution may include a body separate from the government of Austria or of a participating State, which may be wholly or partly owned by Austria or a participating State.

Pension fund with broad participation

§ 66. The term "wide-participation pension fund" means a fund for the provision of old-age pension and disability benefits, as well as benefits in the event of death or a combination of these benefits in return for benefits provided to beneficiaries who are current or former employees (or persons designated by them) of one or more employers, provided that the Fund

1.		does not have a single beneficiary who is entitled to more than 5% of the fund's assets,
2.		government regulation and provides information to the tax authorities; and
3.		at least one of the following conditions is met:
a)			the fund, on the basis of its status as a pension plan, is in principle exempted from income tax on capital income or the taxation of equivalent income is taxed, or at a reduced rate;
b)			the Fund shall cover at least 50% of its total contributions (with the exception of capital transfers from other plans referred to in Articles 66 to 68, or in the pension accounts referred to in Article 87 (1)), by employers;
c)			Distributions or deprivations from the Fund may only be made upon the occurrence of concrete events related to retirement, invalidity or death (with the exception of an old-age pension plan to others mentioned in § 66 to 68). Pension funds referred to in Article 87 (1) of the pension scheme referred to in paragraph 87 (1) of the pension scheme; otherwise, sanctions shall apply, or
d)			the employee contributions to the Fund (with the exception of certain eligible countervailing contributions) shall be limited or may be limited by the employee's earnings income, by applying the provisions referred to in § 51 bis (53) for the summary of accounts and the currency translation shall not exceed an amount equivalent to the equivalent of USD 50 000 per year.

Low-participation pension funds

§ 67. The term "low-participation pension fund" means a fund for the provision of pension and invalidity benefits, as well as benefits in the event of death in return for benefits provided to beneficiaries, the current or former workers (or certain persons) of one or more employers, provided that:

1.		less than 50 people are involved in the fund,
2.		one or more employers in the funds which are not investment firms or passive NFEs,
3.		the contributions of employees and employers to the Fund (with the exception of capital transfers from retirement accounts referred to in Article 87 (1)) are limited by the earned income or the remuneration of the worker,
4.		may not be entitled to a maximum of 20% of the Fund ' s assets in the participating State of the Fund, and
5.		the Fund is subject to state regulation and information is transmitted to the tax authorities.

Pension funds of a national legal entity, an international organisation or a central bank

§ 68. The term "pension fund of a national legal entity, an international organisation or a central bank" shall mean a fund set up by a national legal entity, an international organisation or a central bank. Provision of old-age pension and disability benefits, as well as benefits in the event of death to beneficiaries or participants, who may be present or former workers (or persons designated by them) or persons who do not current or former employees are, if the benefits are Beneficiaries and participants in return for their personal services to the national legal entity, the international organisation or the central bank.

Qualified credit card provider

§ 69. The term "qualified credit card provider" means a financial institution which satisfies the following conditions:

1.		The financial institution shall be considered as a financial institution only because it is a credit card provider which accepts deposits only if a customer makes a payment exceeding a balance due in respect of the card and does not immediately accept the overpayment is to be referred back to the customer.
2.		Not later than 1. In October 2016, the financial institution shall implement measures and procedures that either prevent a customer from providing an overpayment of an amount equivalent to more than US$ 50 000 or ensure that any overpayment by a customer, which is above this amount, will be refunded to the customer within 60 days, whereby in both cases the rules for the summary of accounts (§ 51 to § 53) and for the currency translation (§ 106) apply. Overpayments by customers in this sense do not include credit in connection with contentious transactions, but include funds as a result of the return of goods.

An organism of collective investment

§ 70. (1) The term 'collective investment undertaking' means an investment undertaking which, as an undertaking, is subject to the supervision of a joint undertaking, provided that all the holdings in the collective investment undertaking are natural persons or entities other than persons subject to a reporting obligation, or held on them, with the exception of a passive NFE with a dominant person who is a person subject to a reporting obligation.

(2) An investment undertaking which is subject to supervision as an undertaking for joint installations shall also be deemed to be a joint investment undertaking in accordance with paragraph 1, if the collective investment undertaking is to issue effective shares of the holding, if

1.		the collective investment organism has not issued or issued any effective bearer shares after 30 September 2016,
2.		the collective investment undertaking shall withdraw all such shares in the case of repurchase,
3.		the organism for joint installations carries out the procedures referred to in § § 7 to 53 for the purpose of carrying out due diligence obligations and reports to all notifiable information relating to these shares, if they are to be used for redeeming or otherwise paying shall be submitted, and
4.		the body for joint installations has measures and procedures to ensure that the shares in question are redeemed or no longer capable of transport as soon as possible and in any event before 1 January 2018.

Section 3

The term "financial account"

Financial Account

§ 71. (1) The term "financial account" means an account run by a financial institution and includes a deposit account, a depositary account and

1.		in the case of an investment firm, equity and debt capital participations in the financial institution. Notwithstanding the above provision, the term "financial account" does not include equity and debt participations in a legal entity which is considered to be an investment undertaking only because it is responsible for the purpose of the investment or management of financial assets which: in the case of a financial institution other than that legal entity, has been paid on behalf of a client, for or on behalf of that client
a)			Provide investment advice or
b)			Assets managed,
2.		in the case of a financial institution not described under Z 1, equity and debt capital participations in the financial institution, provided that the category of participation has been introduced in order to avoid the reporting obligation in accordance with § 3 bis § 6, and
3.		Reinsurance contracts and pension insurance contracts issued or managed by a financial institution, with the exception of immediate and non-transferable, non-transferable, natural or non-transferable pension insurance contracts, People are in a position to monetize an old-age pension or invalidity benefit provided on account of an account that is an account taken out of.

(2) The term "financial account" does not include accounts that are excluded accounts within the meaning of § 87.

Deposit Account

§ 72. The term "deposit account" shall include business, Giro, savings and forward accounts, and accounts securitised by certificates of deposit, savings letters, investment certificates, debt securities or similar instruments issued by a financial institution in the The scope of ordinary banking transactions or similar operations is conducted. A deposit account shall also include amounts held by an insurance company on the basis of a guaranteed capital investment contract or similar arrangement for payment or crediting of interest on those amounts.

Custody account

§ 73. The term "custody account" means an account (but not an insurance contract or a pension insurance contract), in which financial assets are held in favour of a third party.

Equity participation

§ 74. The term "equity participation" means, in the case of a private company, which is a financial institution, either a capital or a profit share in the personal company. In the case of a trusts who is a financial institution, equity participation shall be deemed to be held by a person considered as a trustee or beneficiary of the whole or part of the trusts, or by any other natural person, that actually dominates the trust. A notifiable person shall be deemed to be a beneficiary of a trusts, if it is entitled to receive, directly or indirectly (for example by an agent), a deposit from the trust, or directly or indirectly to receive a payment from the trust. voluntary payout from the Trust.

Insurance contract

§ 75. The term "insurance contract" means a contract (but not a pension insurance contract), in which the policymaker agrees, upon the occurrence of a specific event in connection with a death, illness, or death penalty, The risk of accident, liability or property damage should be paid.

Pension insurance contract

§ 76. The term "pension insurance contract" means a contract in which the policymaker agrees to make payments for a period of time determined in full or in part on the basis of the life expectancy of one or more natural persons , The term also includes a contract which, in accordance with the law, regulations or exercise of the law of the participating State or other State in which it was issued, is regarded as a pension insurance contract and in which the insurance provider is willing to make payments for a certain number of years.

Reinmarkable insurance contract

§ 77. The term "repurchase insurance contract" means an insurance contract (but not a reinsurance contract between two insurance companies) with a cash value.

Cash Value

§ 78. (1) The term "Barwert" means

1.		the amount which the policyholder is entitled to receive after the repurchase or termination of the contract (without any reduction in the amount of a repurchase fee or a police loan), or
2.		the amount which the policyholder may take as a loan under the contract or in relation to the contract, whichever is the higher.

(2) In the light of paragraph 1, the term "cash value" does not include an amount payable under an insurance contract as follows:

1.		solely on the basis of the death of a natural person who has a life insurance contract,
2.		in the form of a performance in the event of personal injury or illness or of any other benefit in compensation for an economic loss suffered in the event of the occurrence of the insurance case,
3.		in the form of a refund of a premium already paid on the basis of an insurance contract (but not a life or pension insurance contract linked to a capital investment contract) (minus insurance fees, irrespective of the actual value of the insurance fee) (a) in the event of a contract revocation or termination, a reduction in the risk potential during the contract period or correction of a misbooking or a comparable error in relation to the contract premium;
4.		in the form of a dividend payable to the policyholder (but not a final bonus), provided that the dividend comes from an insurance contract in which only those benefits are payable after Z 2; or
5.		in the form of a refund of a prepayment advance payment or a premium deposit for an insurance contract with a premium payment of at least annually, provided that the amount of the premium prepayment or the premium deposit is the next contract, shall not exceed the annual premium due.

Existing Account

§ 79. The expression "existing account" means

1.		a financial account that is run by a reporting financial institution as of 30 September 2016;
2.		any financial account of an account holder, irrespective of the date of opening of this financial account, if:
a)			the account holder is also the holder of a financial account with the reporting financial institution (or a related legal entity in the same participating country as the reporting financial institution), which is an existing account after Z 1;
b)			the reporting financial institution (and, where appropriate, the associated entities in the same participating State as the reporting financial institution), these two financial accounts and all other financial accounts of the account holder, which shall be considered as existing accounts in accordance with this , for the purposes of fulfilling the requirements referred to in Article 47 as regards the state of knowledge and for the purpose of determining the balance or value of one of the financial accounts for the purposes of applying one of the account-specific Thresholds are treated as a single financial account;
c)			the reporting financial institution may, in respect of a financial account subject to the anti-money laundering procedure (AML/KYC), comply with the requirements of those procedures with regard to the financial account by referring to the procedures for combating of money laundering (AML/KYC) which has been carried out for the existing account described under Z 1, and
d)			the opening of the financial account-except for the purposes of this Act-does not require the provision of new, additional or changed customer information by the account holder.

New Account

§ 80. The term "new account" means a financial account managed by a reporting financial institution, which is at or after the 1. It will be opened in October 2016 unless it is treated as an existing account in accordance with § 79 Z 2.

Existing account of natural persons

§ 81. The term "existing account of natural persons" means an existing account, the holder of which is a natural person, or is a natural person.

Natural person's new account

§ 82. The term "natural person account" means a new account, the owner of which is a natural person or is a natural person.

Existing account of legal entities

§ 83. The term "existing account of legal entities" means an existing account, the holder of which is a legal entity or is a number of entities.

Low Value Account

§ 84. The expression "low value account" means an existing account of natural persons with a total aldo or value equal to an amount equivalent to a maximum of 1 000 000 United States dollars as of 30 September 2016.

Account of high value

§ 85. The "high value account" expression means an existing account of natural persons with a total aldo or value equivalent to an amount equivalent to more than 1 000 000 US dollars as of 30 September 2016 or 31 December of a subsequent year.

New account of legal entities

§ 86. The term "new account of legal entities" means a new account, the holder of which is a legal entity or a number of entities.

Account taken out

§ 87. The expression "ausgenommenes account" means one of the following accounts:

1.		an age pension account that meets the following conditions:
a)			The account is under the supervision of a personal pension account or is part of a registered or oversight pension plan for the provision of pension and pension benefits (including invalidity benefits and Benefits in the event of death).
b)			The account is tax-favored (that is, contributions paid to the account, which would otherwise be taxable, are deductible or exempted from the account holder's gross income, or are taxed at a reduced rate, or the capital gains made with the account shall be restovised or taxed at a reduced rate).
c)			In relation to the account, there is a duty to provide information to the tax authorities.
d)			Withdrawal shall be subject to the attainment of a certain retirement age, invalidity or death or, in the event of the withdrawal of such events, from the date of occurrence of such events, any advance interest shall be due.
e)			Either
-				the annual contributions shall be limited to an amount equivalent to a maximum of USD 50 000; or
-				the account shall be subject to an overall lifetime contribution limit equal to an amount equivalent to a maximum of 1 000 000 US dollars,
			where in both cases the rules for the aggregation of accounts (§ § 51 to 53) and for the currency translation (§ 106) apply.
		A financial account that is the one in lit. In principle, this condition shall be fulfilled even if the financial account has assets or amounts of money from one or more financial accounts which are subject to the requirements of Z 1 or 2, or of one or more financial accounts. may be transferred to pension funds or pension funds which fulfil the conditions laid down in § § 66 to 68;
2.		An account that meets the following requirements:
a)			The account is considered to be an investment instrument for purposes other than that of prudential supervision and is regularly traded on a recognised stock exchange, or the account is under the supervision of a savings instrument for other purposes than the pension scheme.
b)			The account is tax-favored (that is, contributions paid to the account, which would otherwise be taxable, are deductible or exempted from the account holder's gross income, or are taxed at a reduced rate, or the capital gains made with the account shall be restovised or taxed at a reduced rate).
c)			Withdrawal shall be made subject to the fulfilment of certain criteria relating to the purpose of the investment or savings account (such as the provision of training or medical services), or to take account of the taking-up of such charges. Compliance with these criteria is due for advance interest rates.
d)			The annual contributions are limited to an amount equivalent to a maximum of USD 50 000, with the rules applicable to the summary of accounts (§ § 51 to 53) and to the currency translation (§ 106).
		A financial account that is the one in lit. In principle, this condition shall be fulfilled even if the financial account has assets or amounts of money from one or more financial accounts which fulfil the requirements of Z 1 or 2, or of one or more financial accounts, may be transferred to pension funds or pension funds which meet the requirements of § § 66 to 68;
3.		a life insurance contract with an insurance period prior to completion of the 90. The life year of the insured person shall end, provided that the contract satisfies the following conditions:
a)			During the contract period or until the completion of the 90. The period of life of the insured person-whichever period is shorter-shall be subject to periodic premiums at least annually, which shall not fall over time.
b)			The contract does not have a contract value to which a person can access without termination of the contract (by removal, insult or other means).
c)			The amount payable in the case of contract revocation or termination of the contract (with the exception of an achievement in the case of death) may be the total amount of the premiums paid for the contract less the sum of the fees for the risk of death and sickness and expenses incurred (irrespective of their actual survey) for the duration and duration of the contract, as well as all the amounts paid out before the contract revocation or termination of the contract.
d)			The holder of the contract is not a paid acquirer;
4.		an account whose exclusive holder is a discount, provided that the documents relating to that account contain a copy of the test or the death certificate of the deceased;
5.		an account that is established in connection with
a)			a court order or a court judgment;
b)			a sale, exchange or rental of an immovable or movable property, provided that the account meets the following conditions:
aa)				The account shall be financed solely with a deposit, a deposit in an amount appropriate to secure an obligation directly related to the transaction, or a similar payment, or with financial assets in connection with the transaction. is paid into the account with the sale, exchange or rental of the property.
bb)				The account will only be used to secure the buyer's obligation to pay the purchase price for the property, the seller's obligation to pay contingent liabilities or the obligation of the landlord or Tenant for the payment of damages in connection with the rental property according to the rental contract established and used.
cc)				The assets of the account, including the income earned from it, are disbursed in the case of sale, exchange or transfer of the assets or end of the lease in favour of the buyer, seller, landlord or tenant or in any other way (also in order to fulfil an obligation of one of these persons).
dd)				The account is not a Margin account or similar account in connection with a sale or exchange of financial assets.
ee)				The account is not in connection with an account according to Z 6;
c)			an obligation of a financial institution managing a loan secured by immovable property to repay part of a payment solely to enable the payment of taxes or insurance contributions in connection with the properties at a later date, or
d)			an obligation of a financial institution exclusively to enable the payment of taxes at a later date;
6.		a deposit account that meets the following requirements:
a)			The account shall be exclusive because a customer makes a payment exceeding a balance due in respect of a credit card or other revolving credit facility, and the overpayment shall not immediately be paid to the customer. will be remitted.
b)			Not later than 1. In October 2016, the financial institution shall implement measures and procedures which either prevent a customer from paying an amount equivalent to the national currency of each participating State in the equivalent of more than USD 50 000. , or ensure that any overpayment of a customer above that amount will be refunded to the customer within 60 days. In both cases, § 106 shall apply. Overpayments by customers in this sense do not include credit in connection with contentious transactions, but include funds as a result of the return of goods.
7.		a ruthless account. A resting account is
a)			an account with a value not exceeding the equivalent of 1 000 US dollars, which satisfies the following conditions:
-				The account holder has not initiated a transaction within the last three years with regard to this account or any other account, combined with this account in accordance with Section 51, at the reporting financial institution;
-				the account holder has not entered into contact with the reporting financial institution within the last six years with respect to the dormant account or any other account combined with that account in accordance with Section 51; and,
-				in the case of a repurchase insurance contract, the reporting financial institution shall not be with the account holder in respect of that account or any other account combined with that account in accordance with § 51 within the last six years in Contact kicked.
b)			an account with a value not exceeding the equivalent of 10 000 US dollars, for which § 40 para. 5 BWG or § 40 para. 7 BWG applies.
		Each reporting financial institution may also apply the provisions for notifiable accounts to dormant accounts; and
8.		another account, where there is a low risk of being abused for tax evasion, which has essentially similar characteristics to those described in Z 1 to 6. The Federal Minister of Finance shall be authorized by Regulation to determine the accounts which fulfil these conditions.

Section 4

The term "notifiable account"

Notifiable account

§ 88. The term "notifiable account" means a financial account managed by a reporting financial institution of a participating State, the holder of which is one or more notifiable person (s) or a passive NFE, of one or more persons who are subject to a reporting obligation. Persons (s) who are subject to a reporting obligation (s) are or are under control, provided that it has been identified as such in accordance with the procedures described in § § 7 to 53 for the purpose of carrying out due diligence obligations.

Person subject to reporting

§ 89. The term "notifiable person" means a person of a participating State, but not

1.		a capital company whose shares are traded on a regular basis in one or more recognized stock exchanges,
2.		a capital company which is a linked legal entity of a capital company after Z 1;
3.		a national legal entity,
4.		an international organization,
5.		a central bank or
6.		a financial institution.

Person of a participating State

§ 90. The term "person of a participating State" means a natural person or a legal entity which is resident in the country under the tax law of any participating State, or an estate of a deceased person who is resident in that country. was established in any other participating State. In this sense, a legal entity in which there is no tax law, such as a partnership, a limited liability partnership or a similar legal entity, shall be deemed to be resident in the State in which the place of its actual management.

Participating State

§ 91. The term "participating State" means:

1.		another Member State of the European Union;
2.		another State with which an agreement exists whereby the other State shall transmit the information referred to in § 3. The Federal Minister of Finance shall be authorized, in agreement with the Main Committee of the National Council, to determine by Regulation which States shall be deemed to be participating States in accordance with the Government Convention of 29 December 2008. October 2014 (OECD-MCAA). The list of States to be considered as participating States in accordance with this Regulation shall be notified to the European Commission.
3.		another state,
a)			with which the European Union has concluded an agreement to the effect that the other State shall transmit the information referred to in Articles 3 and 6 of this Directive, and
b)			which is listed in a list published by the European Commission.

Dominant persons

§ 92. (1) The expression "dominant persons" means the natural persons who master a legal entity.

(2) In the case of a trusts, this expression shall mean the trustee, the trustee (s), the protector (s), the beneficiaries (s), the beneficiaries (s) or the beneficiary class (s), and any other natural (s) Person (s) who actually master the trust or .

(3) In the case of a legal entity which is not a trust, this term shall mean persons in equivalent or similar positions as those mentioned in paragraph 2 above.

(4) The expression "dominant persons" shall be interpreted in a manner consistent with the FATF recommendations.

NFE (Non-Financial Entity)

§ 93. The term "NFE" means a legal entity which is not a financial institution.

Passive NFE

§ 94. The expression "passive NFE" means

a)			a NFE, which is not an active NFE, or
b)			an investment undertaking according to Article 59 (1) (2), which is not a financial institution of a participating State.

Active NFE

§ 95. The term "active NFE" means a NFE, which meets one of the following criteria:

1.		Less than 50% of the gross income of the NFE in the previous calendar year are passive income and less than 50% of the assets held by the NFE during the previous calendar year are assets with which: passive income should be achieved or achieved.
2.		The shares of the NFE are regularly traded on a recognised stock exchange, or the NFE is a related entity of a legal entity whose shares are regularly traded on a recognised stock exchange.
3.		The NFE is a national legal entity, an international organisation, a central bank or a legal entity which is in sole ownership of one or more of the above institutions.
4.		In essence, all activities of the NFE consist in the (total or partial) possession of the issued shares of one or more subsidiaries performing a different business activity than that of a financial institution, and in the Financing and provision of services to these subsidiaries, with the exception that a legal entity does not meet the criteria for this status if it operates as an investment fund (or is referred to as such), such as: a venture capital fund, a venture capital fund, a fund for foreign-funded acquisitions ("leveraged buyout funds") or a investment instrument whose purpose is to acquire or finance companies and subsequently to hold shares in these companies as fixed assets.
5.		The NFE does not yet operate a business and has not operated any business in the past, but deposits capital in assets with the intention of operating a business other than that of a financial institution; the NFE, however, falls after the day, which follows a period of 24 months from the date of the founding date of the NFE, not under this derogation.
6.		The NFE has not been a financial institution in the last five years and is currently divying its assets or is restructuring it with the intention of continuing or resuming operations other than that of a financial institution.
7.		The activities of the NFE consist primarily in the financing and safeguarding of transactions with or for related entities which are not financial institutions, and does not provide any financing or security services for entities which: are not affiliated entities, with the proviso that the Group of these associated entities is primarily engaged in business activities other than that of a financial institution.
8.		The NFE meets all of the following requirements:
a)			It shall be constructed and operated exclusively for religious, non-profit, scientific, artistic, cultural, sporting or educational purposes in the State in which it is established, or shall be established and operated in its State of State of the State. and is a professional association, an association of businessmen, a chamber of commerce, a workers 'association, an agricultural or horticultural association, a citizens' association or an organisation that operates exclusively for the promotion of welfare .
b)			He is exempt from the tax on income in his state of law.
c)			He does not have any shareholders or members who have property rights or rights of use in his income or assets.
d)			In accordance with the law in force in the country of law or the foundation documents of the NFE, its income and assets may not be distributed to or used in the benefit of a private person or non-profit-making entity, except in accordance with the performance of the non-profit activities of the NFE, as payment of an appropriate remuneration for services provided or as payment in the amount of the market value of an asset acquired by the NFE.
e)			In accordance with the applicable law of the State in which the NFE is founded or the foundation documents of the NFE, all of its assets must be distributed to a public entity or other non-profit organization in the course of its processing or dissolution, or , the government of the NFE or one of its local authorities shall be the subject of a visit to the NFE.

Section 5

Other definitions

Account Owner

§ 96. The term "account holder" means the person who is led or identified by the account-leading financial institution as the holder of a financial account. A person who is not a financial institution and has a financial account in favour of or on behalf of another person as a trustee, representative, depositary, authorized representative, signatory, investment advisor or intermediary shall not be deemed to be an account holder in the The meaning of this law, the other person is considered to be the account holder. In the case of a repurchase insurance contract or a pension insurance contract, the account holder shall be any person who is entitled to access the cash value or to change the beneficiary of the contract. If no one can access the cash value or change the beneficiary of the contract, the account holder shall be any person referred to in the contract as the owner and any person who has an incontestable payment claim under the terms of the contract. In the case of a maturity of a repurchase insurance contract or a pension insurance contract, any person who has a right to receive a payment shall be deemed to be the account holder. For the purposes of this Federal Act, the customer identified in accordance with Section 31 (3) of the Federal Elections Act (BWG) shall be deemed to be the account holder in the case of savings in accordance with Section 40 (

Anti-money laundering procedure (AML/KYC)

§ 97. The expression "anti-money laundering procedure (AML/KYC)" means the procedures of a reporting financial institution to comply with the customer due diligence obligations under the anti-money laundering requirements and similar rules to which this reporting financial institution is subject to federal legislation.

Legal entities

§ 98. (1) The term "legal entity" means a legal entity or a legal entity such as a capital company, a partnership, a trust or a foundation.

(2) A legal entity, such as a partnership, a limited liability partnership, or a similar legal entity in which the tax is not in accordance with § 90, shall be deemed to be resident in the State where the place of its actual existence is Executive Management. For this purpose, legal persons or legal entities as a partnership and a limited liability partnership are "similar" if they do not act as taxable legal entities in a participating State under their tax law. will be treated. However, in order to avoid double reporting (given the broad scope of the term 'dominant persons' in the case of trusts), a trust which is a passive NFE cannot be regarded as a similar legal entity.

Related entities

§ 99. A legal entity shall be a "connected legal entity" of another legal entity, if:

1.		one of the two legal entities dominates the other,
2.		the two entities are subject to the same mastery, or
3.		the two entities are investment undertakings within the meaning of Article 59 (1) (2), have a common management board and that management shall comply with the due diligence obligations of such investment undertakings.
For this purpose, control shall comprise direct or indirect ownership of more than 50% of the voting rights and of the value of a legal entity.

Control Identification Number

§ 100. The expression "tax identification number" means the identification number of a taxable person (or the functional equivalent if no tax identification number is present).

Evidence

§ 101. (1) The expression "supporting documents" shall include, in particular, the following documents:

1.		a certificate of residence issued by an authorized state body (for example, a government or one of its authorities or a municipality) of the participating State or any other State in which the payee is established be asserted;
2.		in the case of a natural person, a valid identity card issued by an authorized government body (for example, a government or any of its authorities or a municipality) containing the name of the natural person, and normally the name of the natural person, identification of identity;
3.		in the case of a legal entity, an official document issued by an authorized government body (for example, a government or any of its authorities or a municipality) containing the name of the legal entity, and either the address its headquarters in the participating State or any other State in which it is established, or the participating State or other State in which the legal entity has been registered or established;
4.		a audited financial statements, a third party credit information, an insolvency application or a report by the Exchange Supervisory Authority.

(2) With regard to existing accounts of entities, a reporting financial institution may use as evidence any classification in its documents relating to the account holder, based on a standardised industry coding system (paragraph 1). 3) identified by the reporting financial institution in accordance with its usual business practice for the purposes of anti-money laundering (AML/KYC) or other legal purposes (except for tax purposes); and before the date on which the financial account has been classified as an existing account, provided that the reporting financial institution is not known or does not have to be aware that this classification is not accurate or unbelievable.

(3) The term 'standardised industry coding system' shall mean a coding system used for the classification of facilities by type of business for purposes other than tax purposes.

(4) For the purposes of paragraph 1 (1) (3), the address of the main office of the legal entity shall in general be the place where its actual management is located. The address of the financial institution in which the legal entity leads an account, a mailbox or a plain postal address, is not the address of the main office of the legal entity, unless that address is the only one used by the legal entity , and appears as the registered address of the legal entity in its business documents. In addition, an address indicated by the instruction to send the entire correspondence to this address is not the address of the main office of the legal entity.

Change of circumstances

§ 102. A "change of circumstances" shall include any change that results in the inclusion of new information relevant to the status of a person, or in any other way contrary to the status of that person. In addition, any change in circumstances shall include any change or inclusion of information relating to the account holder's account (including the inclusion, replacement or any other change of an account holder) or any change or inclusion of Information on each account associated with such an account (using the rules for the summary of accounts according to § § 51 to 53), if this change or inclusion of information on the status of the account holder .

Guided Accounts

§ 103. In general, it is to be assumed that accounts are managed by the following financial institutions:

1.		Depositary accounts of the financial institution that holds the assets in the account (including financial institutions that hold assets as brokers for an account holder at that institution);
2.		Deposit accounts from the financial institution, which is obliged to make payments in respect of the account (with the exception of representatives of financial institutions, whether or not this representative is a financial institution);
3.		Ownership or equity investments in a financial institution in the form of a financial account from that financial institution;
4.		Repurchase-able insurance contracts or pension insurance contracts from the financial institution, which is obliged to make payments in respect of the contract.

Electronically searchable data

§ 104. Electronically searchable data are to be understood as information which a reporting financial institution holds in the customer base or in comparable files and which is in the form of an electronic database, the standard queries in programming languages. such as B. Structured Query Language (SQL) is enabled. Information, data and files stored in the form of an image recognition system (.pdf or scanned documents) shall not be considered as electronically searchable data.

Customer roots

§ 105. The customer base includes the master files of a reporting financial institution, which are conducted for the purposes of the information about the account holder, such as information that is used to contact the account holder or the fulfillment of Methods of combating money laundering (AML/KYC) are used.

Currency translation

§ 106. For the purposes of this Federal Act, the exchange rates (Euro foreign exchange reference rates) published by the European Central Bank shall be used as the relevant date for the currency translation. If no exchange rate is published by the European Central Bank for a currency, the last cash value published before the relevant reference date shall be used.

9. Main piece

Criminal provisions

Breach of notification duty

§ 107. (1) Any person who intentionally violates a reporting obligation pursuant to § 3 in that

1.		a notification is not reimbursed within the time limit, or
2.		not to be reported to persons who are subject to reporting;
3.		information required for the identification of a person, in particular information on the name, address or date of birth, is not required or is not reported correctly; or
4.		information about the amount of information or the amount to be reported is not reported or is not properly reported,
is guilty of a financial offence and is punishable by a fine of up to 200 000 euros.

(2) Anyone who is grossly negligent in the act referred to in paragraph 1 shall be punished with a fine of up to 100 000 euros.

Breach of due diligence obligation

§ 108. (1) Who, without realising the facts of § 107, intentionally violates the due diligence obligations according to the main pieces 3 to 7, is guilty of a financial offence and is punishable by a fine of up to 20 000 euros.

(2) Anyone who is grossly negligent in the act referred to in paragraph 1 shall be punished with a fine of up to 10 000 euros.

Exclusion of legal proceedings

§ 109. The financial process according to § § 107 and 108 has never been punished by the court.

Responsibility

§ 110. In order to carry out the financial criminal proceedings, the tax office responsible for the levying of the duties of the financial institution subject to the reporting obligation is responsible as a financial criminal authority. Section 58 (1) (lit). f last half-sentence of the Financial Criminal Law-FinStrG, BGBl. No 129/1958, shall apply mutatily.

Responsibility for monitoring compliance with due diligence and reporting obligations

§ 111. The control of compliance with the provisions of § § 3 to 53 is the responsibility of the federal tax authorities. The tax office is responsible for the collection of the corporate income tax of the reporting financial institution. In this connection, the provisions applicable to the levying of charges, such as the Federal Tax Code (BAO), BGBl (Federal Tax Code), are in this case. No 194/1961, apply mutatily. The notifications (§ 3) shall be deemed to be declarations of duty.

10. Main piece

Transmission and forwarding of information

Transmission of notified information to foreign authorities

§ 112. (1) The Federal Minister of Finance shall, within nine months of the end of the calendar year to which the information relates, transmit each year following an automated procedure to the competent authority of each participating State Information:

1.		The name, address, tax identification number (s) and date and place of birth (in the case of natural persons) of any person who is the person who is the holder of the account, and of a legal holder who is a holder of the account and who is responsible for the application of the procedures for the purposes of compliance with the due diligence obligations of one or more dominant persons, who are persons subject to reporting, name, address and tax identification number (s) of the legal entity, as well as the name, address, the tax identification number (s), date and place of birth of each person liable to be notifiable,
2.		Account number (or functional equivalent if no account number exists),
3.		the name and (where appropriate) identification number of the reporting financial institution;
4.		Account balance or value (including the cash value or the repurchase value in the case of repurchase insurance or pension insurance contracts) at the end of the calendar year in question or, if the account is over the course of the year or period dissolved, the resolution of the account,
5.		for depositary accounts:
a)			Total gross amount of interest, total gross amount of the dividends and total gross amount of other income earned by the assets held on the account and in each case in the account (or in relation to the account) during the calendar year has been paid or credited to the account, and
b)			Total gross proceeds from the sale or repurchase of financial assets which have been paid into the account or credited to the account during the calendar year and for which the reporting financial institution as depositary, broker, authorized representative or otherwise acting as a representative for the account holder,
6.		in the case of deposit accounts, the total gross amount of the interest paid into the account or credited to the account during the calendar year, and
7.		in the case of all other accounts not listed under Z 5 or Z 6, the total gross amount paid to or credited to the account holder in respect of the account during the calendar year and for which the reporting financial institution is The debtor shall be debtor, including the total amount of any redemption amounts paid to the account holder during the calendar year.

(2) The information to be transmitted in accordance with paragraph 1 shall relate to tax periods starting from 1. Jänner 2017. By way of derogation, in the case of new accounts within the meaning of § § 82 and 86, information is already collected which covers the period between 1 and 1. October 2016 and 31 December 2016.

Forwarding of foreign information to the competent tax authorities

§ 113. Information received from participating states within the framework of the automatic exchange of information provided for under this Federal Act shall be forwarded by the Federal Minister of Finance once a year to the competent tax authorities.

11. Main piece

Final provisions

References to other legislation

§ 114. Insofar as provisions of other federal laws are referred to in this Federal Act, these are to be applied in their respectively applicable version.

Personal names

§ 115. In so far as the names used in this Federal Act refer to natural persons, the chosen form shall apply to both sexes.

Enforcement

§ 116. The Federal Minister of Finance is responsible for the enforcement of this federal law.

entry into force

§ 117. This federal law comes with xx. Xx 20xx in force.

Article 5

Amendment of the EU's mutual assistance law

The EU's Administrative Assistance Act, BGBl. I No 112/2012, shall be amended as follows:

1. § 1 (1) reads:

" (1) This Federal Act regulates the implementation of mutual assistance between Austria and the other Member States of the European Union (Member States) in the exchange of information relating to the application and enforcement of the national law. On the right of the Member States, on the basis of the Directive 2011 /16/EU on administrative cooperation in the field of taxation and repealing Directive 77 /799/EEC, OJ L 376, 27.11.2011, p. No. OJ L 64 of 11.03.2011 p. 1, as last amended by Directive 2014 /107/EU, OJ L 327, 28.12.2014, p. No. 1 OJ L 359, 16.12.2014, p. 1 ('the Mutual Assistance Directive '), is likely to be significant. Insofar as the provisions of other federal laws are referred to in this Federal Act, with the exception of Section 4 (6) thereof, they shall be applied in their respectively applicable version. "

2. § 2 para. 1 Z 10 reads:

" 10.		"automatic exchange of information" means the systematic transmission of previously established information on persons established in other Member States to the relevant Member State of the Member State without the prior request of that Member State in regular, in the Pre-determined intervals. For the purposes of Section 7, available information shall be those contained in the tax files of the Member State providing the information and which shall be available in accordance with the procedures for the collection and processing of information of the Member State concerned. Member State may be called upon to: "

3. In § 7, the following paragraph shall be added in accordance with paragraph 3:

" (4) The implementation of the implementation of Directive 2014 /107/EU amending Directive 2011 /16/EU as regards the obligation to automatically exchange information in the field of taxation, OJ L 206, 22.7.2011, p. No. 1., the mandatory automatic exchange of information on the implementation of the global standard for automatic exchange of information on financial accounts in tax matters is governed by the provisions of the Common Reporting Standard-Law-GMSG, BGBl. I No 116/2015. "

Article 6

Amendment of Administrative Assistance-Implementing Act

The Mutual Assistance Implementing Act, BGBl. I n ° 102/2009, as last amended by the Federal Law BGBl. I n ° 40/2014, shall be amended as follows:

§ 1 reads:

" § 1. This federal law regulates the implementation of the OECD principles for bilateral information exchange in the area of taxation. It does not, however, affect those in the Joint Reporting Standard Act-GMSG, BGBl. I No 116/2015, contained provisions. "

Fischer

Faymann