Tax glossary
Securities register
The securities register is the schedule to your tax return that lists every bank account, custody account and shareholding with its balance and income — and it doubles as your claim for a refund of Swiss withholding tax.
The statement of securities and assets (Wertschriften- und Guthabenverzeichnis) is one of the most important schedules to the Swiss tax return. It lists your movable assets: bank and PostFinance accounts, securities custody accounts, bonds, fund units, cryptocurrencies, private loans and shareholdings. For each item you enter the balance as at 31 December and the income earned during the year.
The register serves two purposes at once. It is the basis for wealth tax and for taxing investment income — and it also counts as your claim for a refund of withholding tax. Leave an item out and you automatically forgo the refund of the 35 per cent deducted from it.
Completeness is not a mere formality here. Banks report accounts and income under the automatic exchange of information; gaps in the register stand out and lead to queries or to back-tax proceedings.
What to include
All movable assets must be listed — including small balances and dormant accounts.
- Every bank, postal and savings account in Switzerland and abroad, even at zero interest
- Securities custody accounts with tax value and gross income
- Units in investment funds and ETFs
- Cryptocurrencies at the year-end rate
- Loans to private individuals and claims from inheritances
- Unlisted shareholdings in companies
Reclaiming withholding tax
A withholding tax of 35 per cent is deducted at source from interest and dividends paid by Swiss sources. It is not a final tax but a safeguard tax: anyone who declares the income correctly gets it back in full.
The refund is made automatically with the tax assessment — provided the income appears in the securities register. The entitlement is forfeited if you fail to declare the income and the tax authority discovers it on its own.
Your bank’s tax statement
Most banks issue a tax statement that lists all positions and income in exactly the form needed for the tax return. There is sometimes a charge for it, but it saves a great deal of work and reduces errors. For custody accounts holding several securities it is almost always worth it.
Example: a forgotten savings account
A taxpayer declares their salary account and their custody account but forgets an old savings account holding CHF 18,000 that earned CHF 90 in interest. The withholding tax on it comes to CHF 31.50.
Those CHF 31.50 are lost — the smaller problem. The bigger one: if the bank reports the account, the tax office adds it to the taxpayer’s wealth and, depending on the circumstances, opens back-tax or penalty proceedings. Being complete is cheaper than any optimisation.
Frequently asked questions: Securities register
Do I also have to declare foreign accounts?
Yes. Your worldwide assets must be declared. No Swiss withholding tax is levied on foreign income; depending on the country, you can claim a flat-rate credit for foreign tax withheld.
How do I declare cryptocurrencies?
As assets in the securities register, valued at the year-end rate. The Swiss Federal Tax Administration publishes official year-end rates for the most common currencies.
What about capital gains on shares?
Capital gains on private movable assets are tax-free. Only the income — interest and dividends — is taxable. The exception is professional securities trading.
Related terms
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