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Swiss Cantonal Banks And Private Banks Making Voluntary Disclosure To IRS: Time Is Running Out For Taxpayers To Make Voluntary Disclosure Of Offshore Accounts
PRWeb - Thu Jan 23, 4:46AM CST
As of the December 31 deadline, numerous Swiss cantonal and private banks announced their agreement to participate in the U.S. Department of Justice's voluntary disclosure program for banks. Among the banks who publicly announced their decision to participate are: Aargauische Kantonalbank, Bank am Bellevue. Bank Coop, Banque Cantonale Vaudois, Banque Cantonale de Genève, Banque cantonale du Jura, Banque Privee Edmond de Rothschild, Basellandschaftliche Kantonalbank, Berner Kantonalbank, EFG International AG, Graubündner Kantonalbank, Hyposwiss Privatbank Zurich AG, Hyposwiss Private Bank Geneve SA, Hypothekarbank Lenzburg, Linth Bank, Luzerner Kantonalbank, Migros Bank, Nidwaldner Kantonalbank, Piguet Galland & Cie SA, Post Finance, St. Galler Kantonalbank, Union Bancaire Privee, Valiant Holding AG, Vontobel Holding AG, Walliser Kantonalbank and Zuger Kantonalbank. ["Factbox: Swiss Banks and the U.S. Tax Crackdown," Reuters, December 20, 2013, at http://reut.rs/1eeWwxI.] In addition, many of Switzerland's private banks are believed to be participating, however, due to Swiss regulations, certain private banks are not required to publicly disclose such decisions.