DAC8 Annex I — held amending text

DAC8 Annex I — held amending text ANNEX I Annex I to Directive 2011/16/EU is amended as follows:

(1) Section I is amended as follows:

(a) paragraph A is amended as follows:

(i) the introductory wording and subparagraphs A(1) and A(2) are replaced by the following: ‘A.

Subject to paragraphs C to F, each Reporting Financial Institution shall report to the competent authority of its Member State with respect to each Reportable Account of such Reporting Financial Institution:

1. the following information:  (a) the name, address, Member State(s) of residence, TIN(s) and date and place of birth (in the case of an individual) of each Reportable Person that is an Account Holder of the account and whether the Account Holder has provided a valid self-certification;

(b) in the case of any Entity that is an Account Holder and that, after application of the due diligence procedures consistent with Sections V, VI and VII, is identified as having one or more Controlling Persons that is a Reportable Person, the name, address, Member State(s) and (if any) other jurisdiction(s) of residence and TIN(s) of the Entity and the name, address, Member State(s) of residence, TIN(s) and date and place of birth of each Reportable Person, as well as the role(s) by virtue of which each Reportable Person is a Controlling Person of the Entity and whether a valid self-certification has been provided for each Reportable Person;

2. the account number (or functional equivalent in the absence of an account number), the type of account and whether the account is a Pre-existing Account or a New Account;’; (ii) subparagraph A(6) is replaced by the following: ‘6. in the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period;’; (iii) the following subparagraph is inserted: ‘6a. in the case of any Equity Interest held in an Investment Entity that is a legal arrangement, the role(s) by virtue of which the Reportable Person is an Equity  Interest holder; and’;

(b) paragraph C is replaced by the following: ‘C.

Notwithstanding subparagraph A(1), with respect to each Reportable Account that is a Pre-existing Account, the TIN(s) or date of birth is not required to be reported if such TIN(s) or date of birth is not in the records of the Reporting Financial Institution and is not otherwise required to be collected by such Reporting Financial Institution under domestic law or any Union legal instrument.

However, a Reporting Financial Institution is required to use reasonable efforts to obtain the TIN(s) and date of birth with respect to Pre-existing Accounts by the end of the second calendar year following the year in which Pre-existing Accounts were identified as Reportable Accounts and whenever it is required to update the information relating to the Pre-existing Account pursuant to domestic AML/KYC Procedures.’;

Notwithstanding subparagraph A(5), point (b), and unless the Reporting Financial Institution elects otherwise with respect to any clearly identified group of accounts, the gross proceeds from the sale or redemption of a Financial Asset are not required to be reported to the extent such gross proceeds from the sale or redemption of such Financial Asset are reported by the Reporting Financial Institution in accordance with Article 8ad.’;

(2) in Section VI, paragraph 2, point (b) is replaced by the following: ‘(b) Determining the Controlling Persons of an Account Holder.

For the purpose of determining the Controlling Persons of an Account Holder, a Reporting Financial Institution may rely on information collected and maintained pursuant to AML/KYC Procedures, provided that such procedures are consistent with the Directive (EU) 2015/849.

If the Reporting Financial Institution is not legally required to apply AML/KYC Procedures that are consistent with the Directive (EU) 2015/849, it shall apply substantially similar procedures for the purpose of determining the Controlling Persons.’;

(3) in Section VII, the following paragraph is inserted: ‘Aa.

Temporary lack of self-certification.

In exceptional circumstances where a self-certification cannot be obtained by a Reporting Financial Institution in respect of a New Account in time to meet its due diligence and reporting obligations with respect to the reporting period during which the account was opened, the Reporting Financial Institution shall apply the due diligence procedures for Pre-existing Accounts, until such self-certification is obtained and validated.’;

(4) Section VIII is amended as follows:

(a) subparagraphs A(5), A(6) and A(7) are replaced by the following: ‘5.

The term “Depository Institution” means any Entity that:

(a) accepts deposits in the ordinary course of a banking or similar business; or (b) holds E-money or Central Bank Digital Currencies for the benefit of customers.

The term “Investment Entity” means any Entity:

(a) which primarily conducts as a business one or more of the following activities or operations for or on behalf of a customer:

(i) trading in money market instruments (cheques, bills, certificates of deposit, derivatives, etc.); foreign exchange; exchange, interest rate and index instruments; transferable securities; or commodity futures trading; (ii) individual and collective portfolio management; or (iii) otherwise investing, administering, or managing Financial Assets, money, or Reportable CryptoAssets on behalf of other persons; or (b) the gross income of which is primarily attributable to investing, reinvesting, or trading in Financial Assets or Reportable Crypto-Assets, if the Entity is managed by another Entity that is a Depository Institution, a Custodial Institution, a Specified Insurance Company, or an Investment Entity described in subparagraph A(6), point (a).

An Entity is treated as primarily conducting as a business one or more of the activities described in subparagraph A(6), point (a), or an Entity’s gross income is primarily attributable to investing, reinvesting, or trading in Financial Assets or Reportable Crypto-Assets for the purposes of subparagraph A(6), point (b), if the Entity’s gross income attributable to the relevant activities equals or exceeds 50 % of the Entity’s gross income during the shorter of:

(i) the three-year period ending on 31 December of the year preceding the year in which the determination is made; or (ii) the period during which the Entity has been in existence.

For the purposes of subparagraph A(6), point (a)(iii), the term “otherwise investing, administering, or managing Financial Assets, money, or Reportable Crypto-Assets on behalf of other persons” does not include the provision of services effectuating Exchange Transactions for or on behalf of customers.

The term “Investment Entity” does not include an Entity that is an Active NFE because that Entity meets any of the criteria in subparagraph D(8), points (d) to (g).  This subparagraph shall be interpreted in a manner consistent with the similar language set out in the definition of “financial institution” in Directive (EU) 2015/849.

The term “Financial Asset” includes a security (for example, a share of stock in a corporation; partnership or beneficial ownership interest in a widely held or publicly traded partnership or trust; note, bond, debenture, or other evidence of indebtedness), partnership interest, commodity, swap (for example, interest rate swaps, currency swaps, basis swaps, interest rate caps, interest rate floors, commodity swaps, equity swaps, equity index swaps, and similar agreements), Insurance Contract or Annuity Contract, or any interest (including a futures or forward contract or option) in a security, Reportable Crypto-Asset, partnership interest, commodity, swap, Insurance Contract, or Annuity Contract.

The term ‘Financial Asset’ does not include a non-debt, direct interest in real property.’;

(b) in paragraph A, the following subparagraphs are added: ‘9.

For the purposes of this Annex, the term “Electronic Money” or “E-money” means any product that is:

(a) a digital representation of a single Fiat Currency;

(b) issued on the receipt of funds for the purpose of making payment transactions;

(d) accepted in payment by a natural or legal person other than the issuer; and (e) by virtue of regulatory requirements to which the issuer is subject, redeemable at any time and at par value for the same Fiat Currency upon request of the holder of the product.

The term “Electronic Money” or “E-money” does not include a product created for the sole purpose of facilitating the transfer of funds from a customer to another person pursuant to instructions of the customer.

A product is not created for the sole purpose of facilitating the transfer of funds if, in the ordinary course of business of the transferring Entity, either the funds connected with such product are held longer than 60 days after receipt of instructions to facilitate the transfer, or, if no instructions are received, the funds connected with such product are held longer than 60 days after receipt of the funds.

10.

The term “Fiat Currency” means the official currency of a jurisdiction, issued by a jurisdiction or by a jurisdiction’s designated Central Bank or monetary authority, as represented by physical banknotes or coins or by money in different digital forms, including bank reserves and Central Bank Digital Currencies.

The term also includes commercial bank money and electronic money products (Electronic Money).

11.

The term “Central Bank Digital Currency” means any digital Fiat Currency issued by a Central Bank or other monetary authority.

12.

The term “Crypto-Asset” means crypto-asset as defined in Article 3(1), point (5), of Regulation (EU) 2023/1114.

13.

The term “Reportable Crypto-Asset” means any Crypto-Asset other than a Central Bank Digital Currency, Electronic Money, or any Crypto-Asset for which the Reporting Crypto-Asset Service Provider has adequately determined that it cannot be used for payment or investment purposes.

14.

The term “Exchange Transaction” means any:

(a) exchange between Reportable Crypto-Assets and Fiat Currencies; and (b) exchange between one or more forms of Reportable Crypto-Assets.’;

(c) in subparagraph B(1), point (a) is replaced by the following: ‘(a) a Governmental Entity, International Organisation or Central Bank, other than:

(i) with respect to a payment that is derived from an obligation held in connection with a commercial financial activity of a type engaged in by a Specified Insurance Company, Custodial Institution, or Depository Institution; or (ii) with respect to the activity of maintaining Central Bank Digital Currencies for Account Holders which are not Financial Institutions, Governmental Entities, International Organisations or Central Banks;’;

(d) subparagraph C(2) is replaced by the following: ‘2.

The term “Depository Account” includes any commercial, checking, savings, time, or thrift account, or an account that is evidenced by a certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar instrument maintained by a Depository Institution.

A Depository Account also includes:

(a) an amount held by an insurance company pursuant to a guaranteed investment contract or similar agreement to pay or credit interest therein;

(b) an account or notional account that represents all E-money held for the benefit of a customer; and (c) an account that holds one or more Central Bank Digital Currencies for the benefit of a customer.’;

(e) subparagraphs C(9) and C(10) are replaced by the following: ‘9.

The term “Pre-existing Account” means:

(a) a Financial Account maintained by a Reporting Financial Institution as of 31 December 2015 or, if the account is treated as a Financial Account solely by virtue of the amendments to this Directive made by Council Directive (EU) 2023/2226 (*1), as of 31 December 2025;

(b) any Financial Account of an Account Holder, regardless of the date such Financial Account was opened, if:

(i) the Account Holder also holds with the Reporting Financial Institution (or with a Related Entity within the same Member State as the Reporting Financial Institution) a Financial Account that is a Pre-existing Account under subparagraph C(9), point (a);  (ii) the Reporting Financial Institution (and, as applicable, the Related Entity within the same Member State as the Reporting Financial Institution) treats both of the aforementioned Financial Accounts, and any other Financial Accounts of the Account Holder that are treated as Pre-existing Accounts under subparagraph C(9), point (b), as a single Financial Account for the purpose of satisfying the standards of knowledge requirements set out in Section VII, paragraph A, and for the purpose of determining the balance or value of any of the Financial Accounts when applying any of the account thresholds; (iii) with respect to a Financial Account that is subject to AML/KYC Procedures, the Reporting Financial Institution is permitted to satisfy such AML/KYC Procedures for the Financial Account by relying upon the AML/KYC Procedures performed for the Pre-existing Account described in subparagraph C(9), point (a); and (iv) the opening of the Financial Account does not require the provision of new, additional or amended customer information by the Account Holder other than for the purposes of this Directive.

10.

The term “New Account” means a Financial Account maintained by a Reporting Financial Institution opened on or after 1 January 2016 or, if the account is treated as a Financial Account solely by virtue of the amendments to this Directive made by Directive (EU) 2023/2226, on or after 1 January 2026. (*1) Council Directive (EU) 2023/2226 of 17 October 2023 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (OJ L, 2023/2226, 24.10.2023, ELI: http://data.europa.eu/eli/dir/2023/2226/oj).’;" (f) subparagraph C(17) is amended as follows:

(i) in point (e), the following point is added: ‘(v) a foundation or capital increase of a company provided that the account satisfies the following requirements: — the account is used exclusively to deposit capital that is to be used for the purposes of the foundation or capital increase of a company, as prescribed by law; — any amounts held in the account are blocked until the Reporting Financial Institution obtains an independent confirmation regarding the foundation or capital increase; — the account is closed or transformed into an account in the name of the company after the foundation or capital increase; — any repayments resulting from a failed foundation or capital increase, net of service provider and similar fees, are made solely to the persons who contributed the amounts; and — the account has not been established more than 12 months ago;’; (ii) the following point is inserted: ‘(ea)a Depository Account that represents all Electronic Money held for the benefit of a customer, if the rolling average 90 days end-of-day aggregate account balance or value during any period of 90 consecutive days did not exceed USD 10 000 at any day during the calendar year or other appropriate reporting period;’;

(g) subparagraph D(2) is replaced by the following: ‘2.

The term “Reportable Person” means a Member State Person other than:

(a) an Entity the stock of which is regularly traded on one or more established securities markets;

(b) any Entity that is a Related Entity of an Entity described in point (a);

(d) an International Organisation;

(e) a Central Bank; or (f) a Financial Institution.’;

(h) in paragraph E, the following subparagraph is added: ‘7.

The term “Identification Service” means an electronic process made available free of charge by a Member State or the Union to a Reporting Financial Institution for the purpose of ascertaining the identity and tax residence of an Account Holder or Controlling Person.’;

(5) in Section IX, the following paragraph is added: ‘In order to achieve the purposes of this Directive, records referred to in the first paragraph, point (2), shall remain available not longer than necessary but in any event not less than five years.’;

(6) the following section is added: ‘SECTION XI TRANSITIONAL MEASURES Notwithstanding Section I, subparagraph A(1), point (b), and subparagraph A(6a), with respect to each Reportable Account that is maintained by a Reporting Financial Institution as of 31 December 2025 and for reporting periods ending by the second calendar year following such date, information with respect to the role(s) by virtue of which each Reportable Person is a Controlling Person or Equity Interest holder of the Entity is only required to be reported if such information is available in the electronically searchable data maintained by the Reporting Financial Institution.’. (*1) Council Directive (EU) 2023/2226 of 17 October 2023 amending Directive 2011/16/EU on administrative cooperation in the field of taxation (OJ L, 2023/2226, 24.10.2023, ELI: http://data.europa.eu/eli/dir/2023/2226/oj).’;’  32023L2226

docs_evidence/eu-legislation/eurlex-full-text/20260823T093000Z/32023L2226.pdf · sha256 790b878f8a4352b3b9462ed036329594843a9e42a6f76071f832cec443b717ff · saved and fingerprinted 20260823T093000Z · Annex I; PDF page 12; derived-text line 827

Legal text reproduced from the official source under Commission Decision 2011/833/EU. Only the official publication is authentic. This page shows our saved copy of the text. It is not advice and does not decide whether any provision applies to anyone.