# AMLR Art. 63 — Obligations of legal entities > TJPG Art. 7, 8, 9, 13 and 14 have been in force since 1 October 2026. See [[Effective-dates timeline]]. - **Part of:** [[AMLR]] - **FATF keying:** [[FATF R.24 - Transparency and beneficial ownership of legal persons|FATF R.24]] - **Swiss provisions:** [[TJPG Art. 7 - Duty to identify and verify|TJPG Art. 7]], [[TJPG Art. 8 - Documentation, keeping current, retention|TJPG Art. 8]], [[TJPG Art. 9 - Report to the transparency register|TJPG Art. 9]], [[TJPG Art. 13 - Shareholder duty to notify where|TJPG Art. 13]], [[TJPG Art. 14 - Duty of BOs and affected|TJPG Art. 14]] - **Detailed citation:** TJPG Art. 7, 8, 9 (company duties); Art. 13 (shareholders), Art. 14 (BOs and third parties) ## What it requires Legal entities created in the Union must obtain, hold and report to the central register adequate, accurate and up-to-date beneficial-ownership information — without undue delay after creation, within 28 calendar days of any change, and verified at least annually (Art. 63(1)-(2)). Beneficial owners and intermediate entities must supply what the entity needs. If no beneficial owner can be identified, the entity records the steps taken and discloses senior managing officials instead (Art. 63(3)-(4)); information must be available to competent authorities on request, and the para. 4 information is retained 5 years after dissolution (Art. 63(5)-(6)). ## Swiss position TJPG splits the duty across three tiers. The company identifies and verifies its beneficial owners (TJPG Art. 7), documents and retains that information — 10 years after a person ceases to be beneficial owner (Art. 8) — and reports to the Transparenzregister within one month of its Handelsregister entry, or of becoming subject to the Act if a foreign legal entity (Art. 9 Abs. 4); if no beneficial owner can be identified, Art. 9 Abs. 3 requires the report to say so and to give all relevant information available, including the name of the senior-most governing-body member. A shareholder or partner holding a controlling stake must separately report the beneficial owner to the company within one month of control arising (TJPG Art. 13). A person who acquires beneficial-owner status must self-report — to that shareholder or, in a control chain, directly to the company — within one month of any change, and must cooperate in verification (TJPG Art. 14). ## Key divergences AMLR Art. 63 places the reporting duty on the entity itself, with beneficial owners obliged only to supply it information (para. 2, second subparagraph). TJPG splits this into three separate duties: the company (TJPG Art. 7-9), the controlling shareholder or partner (TJPG Art. 13), and the beneficial owner or other affected third party (TJPG Art. 14) — the shareholder limb has no AMLR counterpart. Timing is expressed in different units: AMLR uses calendar-day counts (28 days for updates), TJPG uses calendar months (one month for the Art. 9, 13 and 14 reporting duties). Retention also diverges: AMLR Art. 63(6) keeps the para. 4 information (no beneficial owner identified) for 5 years after the entity's dissolution; TJPG Art. 8 Abs. 3 runs 10 years from when an individual person ceases to be beneficial owner — a different period tied to a different trigger. Where no beneficial owner is identified, AMLR Art. 63(4)(b) requires details of all senior managing officials to the same depth as full beneficial-ownership particulars; TJPG Art. 9 Abs. 3 names only the topmost governing-body member (with the other relevant information available), a narrower disclosure. ## Effective dates TJPG Art. 7, 8, 9, 13 and 14 have 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.* - [[VSB 20 Art. 20 - Establishing the controlling persons|VSB 20 Art. 20]] — Both substitute the managing person(s) where no beneficial or controlling owner can be identified. AMLR requires the legal entity to report this; VSB requires the bank to establish it. *(related)* - [[GwV-FINMA Art. 56 - Controlling person – principle|GwV-FINMA Art. 56]] — Both fall back on the managing person where no beneficial or controlling owner is identified. AMLR places the duty on the legal entity; GwV-FINMA on the intermediary obtaining the declaration. *(related)* - [[TJPG Art. 10 - Report changes within 1 month|TJPG Art. 10]] — Both require the entity to report BO changes to the register: AMLR within 28 calendar days, TJPG within one month of the company learning of the change. *(direct)* - [[TJPG Art. 11 - Alternative route via cantonal commercial|TJPG Art. 11]] — AMLR Art. 63(2) has the legal entity report its beneficial owners to the central register; TJPG Art. 11 lets a Swiss company do so via the commercial register office when all its beneficial owners are entered there. *(related)* ## Authoritative text > [!quote]- Regulation (EU) 2024/1624 (AMLR), Article 63 — English text (EUR-Lex, CELEX 32024R1624) > **Article 63** > *Obligations of legal entities* > 1. All legal entities created in the Union shall obtain and hold adequate, accurate and up-to-date beneficial ownership information. > Legal entities shall provide, in addition to information about their legal owners, information on the beneficial owners to obliged entities where the obliged entities are applying customer due diligence measures in accordance with Chapter III. > 2. A legal entity shall report beneficial ownership information to the central register without undue delay after its creation. Any change to that information shall be reported to the central register without undue delay and, in any case, within 28 calendar days thereof. The legal entity shall regularly verify that it holds up-to-date information on its beneficial ownership. As a minimum, such verification shall be performed annually whether as a self-standing process or as part of other periodical processes, such as the submission of financial statement. > The beneficial owners of a legal entity as well as the legal entities and, in the case of legal arrangements, their trustees or persons holding an equivalent position, which are part of the ownership or control structure of a legal entity, shall provide that legal entity with all the information necessary for the legal entity to comply with the requirements of this Chapter or to respond to any request for additional information received pursuant to Article 10(4) of Directive (EU) 2024/1640. > 3. Where, having exhausted all possible means of identification pursuant to Articles 51 to 57, no person is identified as beneficial owner, or where there is substantial and justified uncertainty on the part of the legal entity that the persons identified are the beneficial owners, legal entities shall keep records of the actions taken in order to identify their beneficial owners. > 4. In the cases referred to in paragraph 3 of this Article, when providing beneficial ownership information in accordance with Article 20 of this Regulation and Article 10 of Directive (EU) 2024/1640, legal entities shall provide the following: > (a) a statement that there is no beneficial owner or that the beneficial owners could not be determined, accompanied by a justification as to why it was not possible to determine the beneficial owner in accordance with Articles 51 to 57 of this Regulation and what constitutes uncertainty about the ascertained information; > (b) the details of all natural persons who hold the position of senior managing officials in the legal entity equivalent to the information required under Article 62(1), second subparagraph, point (a) of this Regulation. > For the purpose of this paragraph, ‘senior managing officials’ means the natural persons who are the executive members of the management body, as well as the natural persons who exercise executive functions within a legal entity and are responsible, and accountable to the management body, for the day-to-day management of the entity. > 5. Legal entities shall make the information collected pursuant to this Article available, upon request and without delay, to competent authorities. > 6. The information referred to in paragraph 4 shall be maintained for 5 years after the date on which the legal entities are dissolved or otherwise cease to exist, whether by persons designated by the entity to retain the documents, or by administrators or liquidators or other persons involved in the dissolution of the entity. The identity and contact details of the person responsible for retaining the information shall be reported to the central registers. ## Sources - AMLR Art. 63 — CELEX 32024R1624 - TJPG BBl 2025 2900, Art. 7 - TJPG BBl 2025 2900, Art. 8 - TJPG BBl 2025 2900, Art. 9 - TJPG BBl 2025 2900, Art. 13 - TJPG BBl 2025 2900, Art. 14