The case

Change in Circumstances (CiC): With regard to CiC regarding “individuals” the question is whether the Swiss AEoI Guidelines (Guidelines) request “more” (additional quality of) information and documentation (documentary evidence?) than the CRS?

With regard to differentiate between the mentioned Swiss regulation and the OECD Standard (CRS) I am referring to note 12 on p. 130 CRS Commentary: … must obtain either i) a valid SC (…), or ii) a reasonable explanation and documentation (…).

The “Procedure for determining a change in circumstances for individuals” is determined in point 6.6.1.2 of the Guidelines:

If the Reporting Swiss FI discovers one or more indicia in accordance with Point 6.2.1.2.3.1 such that it must proceed as indicated above due to a change in circumstances, the Reporting Swiss FI must either obtain a valid self-certification indicating (CRS states: “establish”) the tax residence of the Account Holder or an appropriate (CRS states: reasonable) explanation and documentation (CRS states: as appropriate) – whereas the Guidelines requires “documentary evidence” – which confirms (CRS states: supporting) the validity of the original self-certification within 90 days of discovering the change in circumstances in the case of New Accounts, or no later than the last day of the current calendar year or within 90 days of discovering the change in circumstances in the case of Pre-existing Accounts (similar to the Remedy Procedures in accordance with Point 6.2.1.2.4). The plausibility test of the self-certification is always performed based on the current situation at the time of submission.

“Documentary evidence” as defined in point 5.9 of the Guidelines refers to certificate issued by an authorised government body.

Source: CRS and Swiss AEoI Guidelines

The commentary

With regard to “documentation” (as appropriate) the CRS seems to be more flexible compared to the Guidelines (requiring “documentary evidence). As part of a peer review, the Global Forum examines the requirements of the CRS. However, a Swiss FI must implement the Guidelines.