Tax declaration

Email them back quoting that bit of their own instruction that I quoted above and say you’re under the limits and so don’t have to file this year, problem solved

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How can I prove them that I had less than 100k at 31.12.2017? Taxable wealth is only bank/borker accounts?

If I understand correctly I have to send them:

  • my PF bank account status (from 31.12.2017)
  • my Polish bank account (converted to CHF from 31.12.2017 rate)
  • my CT investments (with prices from 31.12.2017)
  • my IB investments (with prices from 31.12.2017 and converted from USD to CHF with 31.12.2017 rate)

You don’t need to prove anything, just assert it. Maybe state approximate number and say you can supply statements if needed, most likely they won’t bother as it’s not worth their time

They’ll get info on your foreign accounts automatically anyway thanks to AEOI, swiss accounts are protected by bank secrecy though, they have to trust what you say and banks statements if you supply them

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Small update. It took very long, but the guy from the tax office finally wrote: “If your married couple’s income from assets is less than CHF 2’000 and your joint taxable assets do not exceed CHF 202’000, a supplementary assessment may be waived.”

So, yeah, I just had to confirm over e-mail that this is the case and I’m done for this year.

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How come that when I enter my AAPL stocks it suggests me to move them to the DA-1, while for all other funds I have who paid dividends, the suggestion does not appear and they remain in the WV form?

In fact, if I try to add the same ETFs to the DA-1 form, they are not found from the ISIN number as they were in the WV form. Anybody knows what I am doing wrong? Last year I had very little income from dividends and didn’t care, but this year I got more and would like to do it right and get the 15% paid to the US back…

I had the same problem (Zurich tax). When I put VT into WV, it was fine, even loaded the dividends. But in DA-1 form it wasn’t found and I needed to add it all manually. I guess that’s just how it is.

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Funny though because also in the DA-1 form one can search for securities and what returned results in the VW doesn’t in the DA-1

Hi all,

first year that I am trying to do this, so I have a question. (sorry if it’s not exactly on topic, as it’s more about reclaiming the 15% from the US)
I understand there should be a W-8BEN form available through IB in their Acc.Mgmt. > Reports > Tax area.
However, at the moment, when I go there, I don’t see anything available yet.
Also when I go to “Availability Dates”, I am unable to locate where W-8BEN should be listed.
Any tips on this part?

Thank you,
D

I checked the tax reports yesterday and even though they should have been available Jan 31st, they were not.

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Hi @dbu, as far as I understand (see also here https://www.interactivebrokers.com/en/index.php?f=1554&p=nonus&conf=am) W8-BEN is filled as you open your account (cause IB is a qualified intermediary).

As they write:
Forms W-8 are valid for the year in which they are signed and for the next three calendar years. For example, a Form W-8BEN signed on March 5, 2018, remains valid through December 31, 20121, and must be resubmitted to IBKR no later than January 30, 2022. Failure to update your W-8 form will result in withholding on all income including gross proceeds from securities sales.

Moreover:
Note: IBKR will send you an email when you are required to resubmit your Form W-8.

So, I think you will only need to fill DA-1 together with your tax declaration.

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Thanks @weirded
I do remember there were some US-related treaty details when signing up; I just thought it might have to be specific via forms.
Does that then mean that those first 15% have already been “returned” to me (or to put it better - “not kept” by US) when my dividend was paid out?

Unfortunately I am on Quellensteuer, so no DA-1 for me (in BS).

I think when I signed up to IB there was a page where I had to provide TIN and the page was titled something like “substitute for W8-BEN”.

You can check on the website of the provider of your ETF what is the gross dividend per piece. Then you can check at IB how much you got, and how big was the withholding tax. The tax is 15% with the form and 30% without it. So most probably there is nothing that you need to do.

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Indeed :slight_smile:
Just discovered the rich reports available at IB. :smiley:
15% was scraped off - all good!
Thank you,
D

Or fortunately. Unless your Quellensteuersatz is under 15%

It is exactly around that number. :nerd_face:

How do you declare your cash balance from IB account? If you have money in several currencies there is no corresponding IBAN for each currency, right?

And what reports from the IB do you include for the tax declaration? I generated a very detailed report with all the transactions, costs, dividends and holdings? Isn’t it too detailed for the tax office? As far as I understand they just need to know your holdings (number of shares), dividends and cash balance, right?

I have a minimal cash amount @IB, so last year added it all together and put in tax decl as CHF. One line.
Yes, tax authority only wants to know like you describe, however for the DA-1, I delivered the individual transaction notice for each dividend payment that I was getting something back / credit from them for. I think it said that is required somewhere, not sure where right now.
Added later:
Just checked - for my canton, at the bottom of DA-1 under Erläuterungen right at the end - “Legen Sie dem Antrag die Bankbelege bei.” (=include the bank statements)
Also the same in the Ergänzungsblatt Steuerrückbehalt USA - “Diesem Antrag sind die … Abrechnungen … beizulegen.”

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You mean you declared it as physical cash not as an account? As far as I know they exchange information about bank accounts now and they probably know you have it. Or is this cash balance not considered a bank account?

No, I mean I added the EUR & GBP & USD & CHF amount equalling about CHF 100 & just declared CHF 100 at IB account on one line, instead of a line for each currency. For simplification due to amount being very small.

Why bother at all? You think the tax office will chase you after that 100 CHF?

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