New reporting obligation for beneficiaries of private foundations

As already reported (KI 02/11), from April 1 In 2011, foundation boards were required to report the beneficiaries of private foundations to the relevant authority. Tax office immediately To share. Accordingly, the names of all foundations that existed on March 31, 2011 or were established in accordance with § 5 of the Private Foundation Act (PSG) are listed below. Beneficiary the tax office responsible for collecting the corporate tax for the private foundation bis to 30th June 2011 electronically to be reported. At Injury These reporting obligations threaten Fines up to €20,000 per concealed or not fully disclosed beneficiary.

Fortunately, it is possible to do this Report About FinanzOnline to be done. In this case, Names, Date of birth and Address to be submitted electronically by the beneficiary. Following the manual published by the BMF for the implementation of the online reporting, the time of submission should also be specified. Begins as well as the Termination The Beneficiary status to report it, but not the time or amount of the benefit.

Furthermore, the BMF and the BMJ (Federal Ministry of Justice) have clarified in a statement that Insurance foundations and Sparkasse Foundations as well as employee sponsorship and employee shareholding foundations with regard to the objective of the standard Not of the reporting obligation affected They are. A corresponding statement is to be included in the foundation’s guidelines as part of the next maintenance.

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