CDB Forms

Swiss beneficial ownership forms under the Bankers' Code of Conduct (CDB) are typically named using letters (A, K, S, T) to denote their purpose: Form A for identifying beneficial owners (BOs) of assets (especially for individual, joint and domiciliary accounts), Form K for the Controlling Persons (major shareholders/directors) of operating companies, and Forms S/T for patrimonial entities (foundations or trusts). These forms are used by banks to meet due diligence requirements, establishing who ultimately owns or controls assets or legal structures.

Synonyms

Acronyms

Examples

A newly-established trading company applies for a corporate account with a Swiss bank to facilitate international payments for its export business. To approve the account, the bank must first perform the KYB process to see whether there is significant risk of money laundering and/or the financing of terrorism.

Since the company is operational and not a trust or a foundation, the bank needs to ensure that Form K is filled out. First they need to identify if there are any UBOs with 25% or more ownership, if there is none then whether there are any Controlling Persons and if this is also not the case the managing directors are to be identified. For the persons listed on the form basic identification information, such as their full name, date of birth, nationality, and address are captured. They also accept the responsibility to update information about their ownership structure as needed.

Having filled out the Form K, the bank verifies the information by using registries or corporate documents.

FAQ

What is form K in Switzerland?

In Switzerland, form K is used to identify beneficial owners of an operating legal entity. A business fills out form K when being onboarded by a Swiss financial institution.

What is form A in Switzerland?

In Switzerland, form A is used to identify beneficial owners of a domiciliary legal entity, i.e. a legal entity that has no physical residence or employees. A business fills out form A when being onboarded by a Swiss financial institution.

What is form S in Switzerland?

In Switzerland, form S is used to identify the beneficial owners as well as the structure of a foundation. It is filled out when being onboarded by a Swiss financial institution in order to remain compliant with AML/CFT regulations.

What is form T in Switzerland?

In Switzerland, form T is used to identify the beneficial owners as well as the structure of a trust. It is filled out when being onboarded by a Swiss financial institution in order to remain compliant with AML/CFT regulations.