UTR reporting

Do I have a reporting obligation?

Pursuant to Article 1 LWTF, the FIU identifies the following service providers which have a reporting obligation:

  • Accountants
  • Lawyers and legal advisors
  • Administration offices
  • Banks
  • Tax advisors
  • Investment institutions
  • Casinos and online casinos
  • Factoring companies
  • Monetary transaction companies
  • Dealers of items of a large value
  • Collection agencies
  • Life insurance companies or agencies
  • Real estate agents
  • Civil-law notaries
  • Pawn shops | compra y venta (‘Buy and Sell’)
  • Trust service providers

The above list is not exhaustive. You (also) have a reporting obligation in the event that you perform one or more of the services below.

Financial service providers

  • Accepting deposits and other repayable funds from the public;
  • Lending;
  • Financial leasing, with the exception of consumer-related leasing;
  • Transferring funds or monetary values or having them transferred;
  • Issuing and managing payment methods besides cash, which in any case include credit cards, debit cards, checks, traveler’s checks, bank drafts, money orders and electronic funds;
  • Providing financial guarantees and commitments;
  • Trading in financial market instruments, foreign currency, shares, currency, interest and index instruments, transferable securities and futures instruments.
  • Participating in the issue of securities and the provision of financial services in that context;
  • Managing individual and group investment portfolios;
  • Taking charge of and administrating cash or liquid securities;
  • Any other investment, administration or management of funds or monies on behalf of third parties;
  • The conclusion, redemption and payment, as well as the provision of mediation when concluding, redeeming and paying out a life insurance contract, in the sense of Article 1 of the State Ordinance on the Supervision of the Insurance Industry (AB 2000, no. 82), and other investment-related insurance products;
  • Exchanging cash and foreign currency;

Non-financial service providers

  • Any private individual, legal entity, company or partnership that acts as a lawyer, civil-law notary, practicing notary, tax advisor or in the performance of a similar legal profession or company;
  • Any private individual, legal entity, company or partnership that acts as an external registered accountant, external accountant administration consultant or similar professional;
  • Any private individual, legal entity or company which acts professionally or commercially as an intermediary in the procurement or sale of real estate, vessels, ships, airplanes, works of art, antiques and the rights to which they are subject;
  • Any private individual, legal entity or company which trades professionally or commercially in precious metals, gems and jewels;
  • Casinos in the sense of Article 1, first paragraph of the State Ordinance on Games of Chance (AB 1990, no. GT 44), as well as online casinos;
  • A trust service provider in the sense of Article 1 of the State Ordinance on the Supervision of Trust Service Providers (AB 2009, no. 13);