# AMLR Art. 59 — Identification of a class of beneficiaries > TJPG Art. 16 (BBl 2025 2900) has been in force since 1 October 2026. See [[Effective-dates timeline]]. - **Part of:** [[AMLR]] - **FATF keying:** [[FATF R.25 - Transparency and beneficial ownership of legal arrangements|FATF R.25]] - **Swiss provisions:** [[TJPG Art. 16 - Trustee duties incl. class-of-beneficiary criteria|TJPG Art. 16]] - **Detailed citation:** TJPG Art. 16 Abs. 5 ## What it requires Where beneficiaries of a trust-like entity (Art. 57) or a trust or similar arrangement (Art. 58, excluding discretionary trusts) have not yet been determined, the class of beneficiaries and its general characteristics must be identified, and individuals become beneficial owners once identified or designated (Abs. 1). For pension schemes under Directive (EU) 2016/2341, low-risk employee share or participation schemes, and low-risk non-profit or charitable trusts or entities, only the class need ever be identified (Abs. 2), with notification to the Commission (Abs. 3). ## Swiss position TJPG Art. 16 Abs. 5 is the operative counterpart: where the trust deed designates categories of beneficiaries, the trustee must determine the criteria for establishing beneficiary status. It sits within the trustee's general duty under Art. 16 Abs. 1-2 to identify beneficial owners and obtain their particulars, so a person must be identified once they meet the criteria the trustee has set. The provision is trust-specific; it does not cover legal entities similar to express trusts (AMLR Art. 57), and it does not itself distinguish a discretionary trust from any other class-of-beneficiaries case the way AMLR Art. 59 Abs. 1 does by excluding discretionary trusts (which Art. 60 covers). ## Key divergences AMLR Art. 59 does two things: it states the general mechanic for undetermined beneficiaries - identify the class, individualise once determined (Abs. 1) - and separately creates a permanent carve-out letting Member States treat certain low-risk vehicles, namely pension schemes, employee share or participation schemes, and non-profit or charitable trusts and entities, as needing only class-level identification indefinitely, subject to a risk assessment and notification (Abs. 2-3). TJPG Art. 16 Abs. 5 supplies only the first half: the trustee must set criteria for establishing beneficiary status where the trust deed designates categories. Nothing in TJPG Art. 16 creates a Swiss counterpart to the Abs. 2 carve-out for pension, employee-participation or non-profit vehicles; on the pinned provision, every Swiss trust beneficiary within a designated class becomes individually identifiable once the trustee's criteria are met, rather than remaining permanently within a class-only description. ## Effective dates TJPG Art. 16 (BBl 2025 2900) has been in force since 1 October 2026. See [[Effective-dates timeline]]. ## Further connections *These links come from an article-by-article comparison of the primary texts. They add to the provisions listed at the top of this note and make no equivalence claim.* - [[GwV-FINMA Art. 64 - Groupings of persons, trusts, asset|GwV-FINMA Art. 64]] — Where no beneficiaries are named, the declaration covers the circle of possible beneficiaries by category. No permanent class-only carve-out for pension, employee or charitable vehicles as in Art. 59(2). *(direct)* - [[VSB 20 Art. 41 - Trusts|VSB 20 Art. 41]] — Formular T item 4b asks for the beneficiary group(s) known at signing, in addition to any determined beneficiaries or where none is determined. The article text itself only refers to the declaration or form. No class-only carve-out as in Art. 59(2). *(related)* ## Authoritative text > [!quote]- Regulation (EU) 2024/1624 (AMLR), Article 59 — English text (EUR-Lex, CELEX 32024R1624) > **Article 59** > *Identification of a class of beneficiaries* > 1. In the case of legal entities similar to express trusts under Article 57 or, with the exception of discretionary trusts, express trusts and similar legal arrangements under Article 58, where beneficiaries have yet to be determined, the class of beneficiaries and its general characteristics shall be identified. Beneficiaries within the class shall be beneficial owners as soon as they are identified or designated. > 2. In the following cases, only the class of beneficiaries and its characteristics shall be identified: > (a) pension schemes within the scope of Directive (EU) 2016/2341; > (b) employee financial ownership or participation schemes, provided that Member States, following an appropriate risk assessment, have concluded a low risk of misuse for money laundering or terrorist financing; > (c) legal entities similar to express trusts under Article 57, express trusts and similar legal arrangements under Article 58, provided that: > (i) the legal entity, the express trust or similar legal arrangement is set up for a non-profit or charitable purpose; and > (ii) following an appropriate risk assessment, Member States have concluded that the category of legal entity, express trust or similar legal arrangement is at a low risk of misuse for money laundering or terrorist financing. > 3. Member State shall notify to the Commission the categories of legal entities, express trusts or similar legal arrangements under paragraph 2, together with a justification based on the specific risk assessment. The Commission shall communicate that notification to the other Member States. ## Sources - AMLR Art. 59 — CELEX 32024R1624 - TJPG BBl 2025 2900, Art. 16