We have insurance transactions with a German company, but we sent the payments to a Swiss bank. How should we report this transaction?
Question
We have insurance transactions with a German company, but we sent the payments to a Swiss bank. How should we report this transaction?
Answer
Since your transaction was with a German entity, you should report this as a transaction with Germany. Where the money actually goes is irrelevant, even if you were to send your payments to a bank in the U.S. as a matter of convenience.
Sign up for e-mail notifications.
Print Answer
Email Answer