Swiss financial institutions report to the Federal Tax Administration (ESTV / AFC). FATCA and CRS filings require strict adherence to IRS and FTA schemas — including SEI XML for group requests under Model 2 IGA.
Switzerland reporting requirements
- Reporting authority: ESTV / AFC (Federal Tax Administration)
- FATCA model: Model 2 IGA — Swiss FIs report to the FTA, which exchanges with the IRS
- FATCA schema: IRS FATCA XML Schema v2.0
- SEI XML schema: SEI-XML Schema V.1.2 for group requests
- File structure: Each information package contains one SEI XML, one FATCA XML, and one PDF
SEI XML requirements (group requests)
- Each package must contain exactly one SEI XML, one FATCA XML, and one PDF.
- The SEI XML validates against SEI-XML Schema V.1.2.
- Detailed business rules apply to
AccountCategory,AccountType, and US indicia fields. - The FATCA XML must validate against FATCA XSD v2.0 and meet the business rules in the IRS FATCA XML Schema User Guide.
- The FTA publishes additional technical specifications that Swiss FIs must follow.
Key validation rules for Swiss FATCA
- FATCA XML must validate against the IRS FATCA XSD v2.0.
- Business rules per the IRS FATCA XML Schema User Guide must be satisfied.
- SEI XML must validate against SEI-XML Schema V.1.2.
- Country codes, TIN formats, and currency codes must follow OECD standards.
How Novus helps
- Generate FATCA XML v2.0 and SEI XML v1.2 from your source data.
- Validate against both IRS and FTA schemas before submission.
- Package SEI XML + FATCA XML + PDF automatically.
- Handle group request workflows for multi-account submissions.
- TIN validation against Swiss and OECD rules.
Related jurisdictions
Frequently asked questions
What is SEI XML and why is it needed in Switzerland?
SEI XML (Standard Exchange of Information) is a Swiss-specific format required alongside FATCA XML when filing group requests with the FTA. Each package must include one SEI XML, one FATCA XML, and one PDF.
Does Switzerland use Model 1 or Model 2 FATCA?
Switzerland operates under Model 2 IGA. Swiss FIs report to the FTA, which transmits the information to the IRS.
Which schema versions apply in Switzerland?
FATCA XML v2.0 (IRS) and SEI-XML Schema V.1.2 (FTA). The FTA publishes additional technical specifications that Swiss FIs must follow.
Can Novus generate SEI XML automatically?
Yes. The platform generates SEI XML v1.2 from your source data and packages it with the FATCA XML and PDF as required by the FTA.