As at 30 September 2026, Germany had exchanged financial account data for the year 2025 with 118 countries and territories. The data was provided by foreign financial institutions. These include not only banks but also certain investment firms and insurance companies.
The institutions first report the information to the relevant authority in their own country. That authority then forwards it to the Federal Central Tax Office (BZSt) as part of the automatic exchange of information. From there, information on persons resident for tax purposes in Germany is forwarded to the relevant state tax authorities and can be cross-checked against tax returns.
The basis for this is the OECD’s Common Reporting Standard (CRS) and the relevant statutory and international exchange regulations. In Germany, the procedure is governed in particular by the Financial Account Information Exchange Act.
Key facts about data exchange under the CRS:
- Exchange as at 30 September 2026 with 118 countries and territories
- Data reported: person, account, account balance, income
- New from 2026: separate reporting procedure for e-money and cryptocurrencies (DAC8)
- The tax office cross-checks the data against the tax return
- Voluntary disclosure: only possible in individual cases, subject to the statutory conditions and provided there are no grounds for exclusion
If you are unsure: Make sure you have it checked by a specialist at an early stage!
The number of reporting countries is steadily increasing
For 2016, Germany received data from 67 countries; for 2026, 118 countries have submitted their data to the Federal Central Tax Office. These include all EU Member States, Switzerland, Liechtenstein and many other countries. Rwanda and Senegal are new additions in 2026.
You can find the current list here: Federal Central Tax Office: Participating CRS partner countries. At the end of this article, you will also find a list of the countries currently participating, as provided by the Federal Central Tax Office.
For the 2024 reporting period, the tax office received more than 14.4 million data records through the exchange (see German Bundestag, Parliamentary Paper 21/2452). There is no current data available for 2025.
The CRS in a nutshell
- What is the CRS? The Common Reporting Standard (CRS) is an OECD standard. It governs the automatic exchange of financial account data between tax authorities.
- How long has it been in place? The OECD adopted the standard in 2014. German financial institutions have been collecting the data since 2016. The exchange of data has been taking place since 2017.
- Consequences? Financial institutions check their customers’ tax residency and report accounts subject to reporting requirements to the relevant authority in accordance with the applicable regulations. Information on persons resident for tax purposes in Germany is forwarded via the Federal Central Tax Office to the relevant state tax authorities. These authorities can cross-check the data against tax returns. Taxable foreign income should therefore be declared in full.
What happens to the data now?
The exchange takes place as follows:
- Financial institutions report account details to the relevant authority in each country in accordance with that country’s deadlines. For German financial institutions required to report, the deadline for reporting to the Federal Central Tax Office (BZSt) is generally 31 July of the following year.
- The annual automatic exchange of information between the competent authorities shall, as a rule, take place by 30 September of the following year.
- The Federal Central Tax Office forwards the data to the state tax authorities.
- The relevant tax office assigns the data to the taxpayers concerned and cross-checks it against their tax returns.
Whether you receive a letter from the tax office as a result depends on the cross-check. If the details do not match those on your tax return, the tax office may ask for further information. In such cases, you are often required to explain what the account is for and where the money comes from.
Anyone who holds an account or investment portfolio abroad should seek advice from a financial adviser at an early stage to check whether, and to what extent, the income generated from it is taxable in Germany and must be declared.
Background information on data exchange: What account details are reported?
The following information is reported: master data, account details, the account balance and income. Individual account transactions are not included.
In detail, this includes:
| Area | Reported figures |
| Person | Name, address, tax identification number, date and place of birth, tax residence |
| Account | Account number, name and identification code of the reporting financial institution |
| Value | Account balance or account value at the end of the calendar year |
| Income | Interest, dividends and other income (gross in each case); for custody accounts, additionally the gross proceeds from the sale or repurchase of assets |
| Other accounts (e.g. insurance policies) | Total gross amount of payments made to the account holder, including redemption amounts |
Accounts held by companies, foundations and trusts may also be subject to reporting requirements. In the case of passive legal entities in particular, the controlling natural persons behind them may also be required to be reported.
The specific details to be reported depend on the type of account and any statutory exemptions. The tax identification number, date of birth and place of birth do not always have to be reported in full. The reported amounts also include the relevant currency. If an account is closed during the reporting period, the closure is reported instead of a year-end balance. A reported account value or gross sales proceeds is not to be equated with taxable income.
Since 1 January 2026, the range of accounts subject to reporting has been expanded. E-money and digital central bank money are treated in the same way as deposit accounts. This applies to reporting periods from 2026 onwards. The first data exchange relating to this will therefore take place in autumn 2027 at the earliest. For these periods, additional details will be provided, such as the account type, whether it is a joint account and whether a self-declaration from the account holder was provided.
Have you received an unexpected letter from the tax office?
If so, we should discuss it as soon as possible in an initial exploratory meeting!!
Outlook: Crypto assets from 2026, first reports in 2027 (DAC8)
The Crypto-Asset Tax Transparency Act (KStTG) has been in force since 1 January 2026. It implements the EU’s DAC8 Directive and the OECD’s CARF reporting framework. Crypto-service providers subject to reporting requirements must collect their users’ data from the 2026 reporting period onwards. The first report to the Federal Central Tax Office is due by 31 July 2027. The exchange of information within the EU will take place by 30 September 2027. This is therefore a separate procedure and not part of the CRS exchange.
Read more: CARF and the 2026 crypto reporting requirement
What should those affected check now?
First, make a list of all your accounts, investment accounts and e-money accounts held abroad, including any older ones.
You should then check whether all interest, dividends and capital gains subject to tax in Germany have been fully included in your tax return. For individuals subject to unlimited income tax liability in Germany, income from foreign accounts and custody accounts may also be subject to German income tax. A foreign withholding tax does not replace an existing German obligation to declare. Any possible credit or refund must be checked separately.
To do this, gather your bank statements and income statements from previous years. You should also check that the information you have provided to the bank regarding your tax residence (self-declaration) is correct.
You should not rush to reply to a letter from the tax office. Have it checked by an expert first. The tax and legal advisory teams at ACCONSIS work closely together on this.
My advice in such a case
An effective voluntary disclosure may, subject to the statutory conditions, lead to immunity from prosecution for the tax evasion offences covered.
It is often unclear at what point an offence is deemed to have been ‘discovered’. Opinions differ as to whether the receipt or the cross-checking of CRS data alone is sufficient to prevent a voluntary disclosure. Each case must be assessed on its own merits. It is therefore not possible to rely on fixed time limits.
Furthermore, not every error constitutes tax evasion. Depending on the circumstances, a correction under Section 153 of the German Fiscal Code (AO) may also be an option.
Given the complex legal requirements, whether a voluntary disclosure is possible must therefore always be examined in detail on a case-by-case basis.
Before you take any action, please do get in touch with me. I’d be happy to arrange an initial consultation with you; in cases like these, it’s often a matter of urgency.
List of CRS partner countries currently taking part, in alphabetical order:
Albania, Andorra, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Azerbaijan, Australia, the Bahamas, Bahrain, Barbados, Belgium, Belize, Bermuda, Brazil, the British Virgin Islands, Brunei Darussalam, Bulgaria, Chile, China, the Cook Islands, Costa Rica, Curaçao, Denmark, Dominica, Ecuador, Estonia, the Faroe Islands, Finland, France, Georgia, Ghana, Gibraltar, Grenada, Greece, Greenland, Guernsey, Hong Kong, India, Indonesia, Ireland, Iceland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, the Cayman Islands, Canada, Kazakhstan, Qatar, Kenya, Colombia, Korea (South Korea), Croatia, Kuwait, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Macau, Malaysia, the Maldives, Malta, Marshall Islands, Mauritius, Mexico, Moldova, Monaco, Montserrat, Nauru, New Caledonia, New Zealand, Netherlands, Nigeria, Niue, Norway, Oman, Austria, Pakistan, Panama, Peru, Poland, Portugal, Rwanda, Romania, Samoa, San Marino, Saudi Arabia, Sweden, Switzerland, Senegal, Seychelles, Singapore, Sint Maarten, Slovakia, Slovenia, Spain, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, South Africa, Thailand, Trinidad and Tobago, the Czech Republic, Turkey, the Turks and Caicos Islands, Uganda, Ukraine, Hungary, Uruguay, Vanuatu, United Arab Emirates, United Kingdom, Cyprus
(Source: BMF letter dated 8 June 2026, 2026 List of Countries)
Your ACCONSIS contact
Dr. Christopher Arendt
Lawyer, specialised lawyer for tax law
Managing Director of ACCONSIS
Service phone
+49 89 547143
or via email
c.arendt@acconsis.de
FAQ on data exchange for overseas accounts
This applies to reportable financial accounts held with institutions in a participating country where the account holder is resident for tax purposes in Germany. These include, for example, current accounts, instant-access savings accounts and fixed-term deposit accounts, securities accounts and certain insurance policies. Not every account is automatically reported. It depends on whether the account is subject to reporting requirements and on the account holder’s tax residence.
No. The information reported comprises master data, the account balance at the end of the year and the income. For investment accounts, the gross proceeds from sales are also included. The tax office does not receive a full account statement. Furthermore, reported sales proceeds are not the same as taxable profit. If the tax office has any queries, it may request further supporting documentation.
Yes. If a reportable account was closed during the reporting period, the closure must be included in the report for that year. Closing the account does not alter this.
A separate procedure applies to crypto-assets. The Crypto-Asset Tax Transparency Act (DAC8) has been in force since 1 January 2026. The obligations must be met for the first time in respect of the calendar year 2026. The first regular provider report to the BZSt must, in principle, be submitted by 31 July 2027; the subsequent international exchange of information must, in principle, take place by 30 September 2027.
The OECD’s CARF standard is intended for use in other countries. For more on this, see the article CARF and the 2026 crypto reporting requirement – current status
The bank needs to know in which country you are resident for tax purposes. Only then can it check whether it is required to report your account. To do this, it will ask you to provide a self-declaration. The information you provide must be accurate and complete. If your circumstances change – for example, if you move house – the self-declaration must be updated. For the purposes of the CRS, it is your tax residence under the relevant rules that is decisive, not simply your nationality. In some cases, more than one country of tax residence may need to be taken into account.
Yes. If you are subject to unlimited income tax liability in Germany, income from foreign accounts and custody accounts may also be subject to German income tax. Taxable capital gains that have not been subject to German capital gains tax withholding must, as a general rule, be declared in your income tax return. A foreign withholding tax does not replace this obligation. Whether, and to what extent, the foreign tax can be credited or refunded must be assessed separately. The automatic exchange of information does not replace your tax return.
That depends on the individual case. A voluntary disclosure under section 371 of the German Fiscal Code (AO) is only possible provided there are no grounds for exclusion. Grounds for exclusion include, for example, a notified audit order, the initiation of proceedings or the discovery of the offence. Opinions differ as to whether the receipt or cross-checking of CRS data alone precludes a voluntary disclosure.
Do not reply to the letter hastily. Take note of the deadline specified. First, have an expert assess what the tax office is asking for and what the consequences of your disclosures might be. Start gathering bank statements, income statements and tax returns for the relevant years now. Please contact us at an early stage: arrange an initial consultation.
