# AMLR Art. 64 — Trustee obligations > TJPG Art. 16 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 ## What it requires Trustees and persons in an equivalent position, where the arrangement is administered in a Member State or they reside/are established there, must obtain and hold basic arrangement information, beneficial-ownership information per Art. 62, and information on parties, agents and obliged entities involved, retained 5 years after their involvement ends (Art. 64(1)). They must report to the central register within 28 calendar days of setup, update within 28 days of change, verify at least annually, and disclose their status and beneficial-ownership information to obliged entities during customer due diligence (Art. 64(2)-(3)). ## Swiss position TJPG Art. 16 requires the trustee to identify and verify the trust's beneficial owners with due care (Abs. 1), gathering name, date of birth, nationality, address/state of residence and information on the nature and extent of control exercised (Abs. 2). Where a legal entity, partnership or trust under Art. 15 Abs. 1 Bst. a-d is itself a party to the trust, the trustee also gathers that party's name and seat/address (Abs. 3), and information on financial intermediaries or other financial/advisory service providers with a business relationship to the trust (Abs. 4). Where the trust deed designates classes of beneficiaries, the trustee sets the criteria for establishing beneficiary status (Abs. 5). The trustee documents this information, reviews it periodically and updates it where needed (Abs. 6), and retains it for 5 years after ceasing to act as trustee, ensuring access from within Switzerland at all times (Abs. 7). ## Key divergences Both regimes set a 5-year retention period running from the same trigger — the trustee's involvement or function ending (AMLR Art. 64(1), second subparagraph; TJPG Art. 16 Abs. 7). AMLR Art. 64(2) additionally requires the trustee to report beneficial-ownership and arrangement information to a central register within 28 calendar days of setup, update it within 28 days of any change, and verify it at least annually; TJPG Art. 16 itself contains no equivalent register-reporting clause — its duties are to identify, document and retain, not to notify a register. AMLR Art. 64(1)(c)-(d) also covers information on other legal entities/arrangements party to the arrangement and on agents and obliged entities in the business relationship; TJPG Art. 16 Abs. 3-4 covers parties under Art. 15 Abs. 1 Bst. a-d and financial/advisory service providers — a differently defined set. AMLR Art. 64(6)-(7) has a specific 'no beneficial owner identified' disclosure regime for legal-entity parties, including senior-managing-official details; TJPG Art. 16 has no parallel clause. ## Effective dates TJPG Art. 16 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]] — Both require a trustee to disclose its trustee status to the counterparty intermediary. GwV-FINMA Abs. 3 binds only a financial intermediary acting as trustee; AMLR 64(3) binds all trustees and adds BO and asset information. *(direct)* - [[VSB 20 Art. 41 - Trusts|VSB 20 Art. 41]] — Both have the trust-side party give the bank information on the trust in CDD. VSB 20 Art. 41 fixes content via Form T (trustee status, type of trust, settlor, beneficiaries, protectors); AMLR 64(3) requires status disclosure plus BO and asset information. *(related)* ## Authoritative text > [!quote]- Regulation (EU) 2024/1624 (AMLR), Article 64 — English text (EUR-Lex, CELEX 32024R1624) > **Article 64** > *Trustee obligations* > 1. In the case of any legal arrangement administered in a Member State or whose trustee or the person holding an equivalent position in a similar legal arrangement resides or is established in a Member State, trustees and persons holding an equivalent position in a similar legal arrangement shall obtain and hold the following information regarding the legal arrangement: > (a) basic information on the legal arrangement; > (b) adequate, accurate and up-to-date beneficial ownership information as provided under Article 62; > (c) where legal entities or legal arrangements are parties to the legal arrangement, basic information and beneficial ownership information on those legal entities and legal arrangements; > (d) information on any agent authorised to act on behalf of the legal arrangement or to take any action in relation to it, and on the obliged entities with which the trustee or person holding an equivalent position in a similar legal arrangement enter into a business relationship on behalf of the legal arrangement. > The information referred to in the first subparagraph shall be maintained for 5 years after the involvement of the trustee or the person holding an equivalent position with the express trust or similar legal arrangement ceases to exist. > 2. The trustee or the person holding an equivalent position in a similar legal arrangement shall obtain and report to the central register beneficial ownership information and basic information on the legal arrangement without undue delay after the setting up of the express trust or similar legal arrangement and, in any case, within 28 calendar days thereof. The trustee or the person holding an equivalent position in a similar legal arrangement shall ensure that any change of beneficial ownership or of the basic information on the legal arrangement is reported to the central register without undue delay, and in any case, within 28 calendar days thereof. > The trustee or the person holding an equivalent position in a similar legal arrangement shall regularly verify that the information they hold over the legal arrangement pursuant to paragraph 1, first subparagraph, is updated. Such verification shall be performed at least annually, whether as a self-standing process or as part of other periodical processes. > 3. The trustees or the persons holding an equivalent position in a similar legal arrangement referred to in paragraph 1 shall disclose their status and provide the information on the beneficial owners and on the assets of the legal arrangements that are to be managed in the context of a business relationship or occasional transaction to obliged entities when the obliged entities are applying customer due diligence measures in accordance with Chapter III. > 4. The beneficial owners of a legal arrangement other than the trustees or persons holding an equivalent position, its agents and the obliged entities servicing the legal arrangement, as well as any person and, in the case of legal arrangements, their trustees, who are part of the multi-layered control structure of the legal arrangement, shall provide the trustees or persons holding an equivalent position in a similar legal arrangement with all the information and documentation necessary for the trustees or persons holding an equivalent position to comply with the requirements of this Chapter. > 5. Trustees of an express trust and persons holding an equivalent position in a similar legal arrangement shall make the information collected pursuant to this Article available, upon request and without delay, to competent authorities. > 6. In the case of legal arrangements whose parties are legal entities, where, after having exhausted all possible means of identification pursuant to Articles 51 to 57, no person is identified as beneficial owner of those legal entities, or where there is substantial and justified uncertainty that the persons identified are the beneficial owners, trustees of express trusts or persons in an equivalent position in similar legal arrangements shall keep records of the actions taken in order to identify their beneficial owners. > 7. In the cases referred to in paragraph 6 of this Article, when providing beneficial ownership information in accordance with Article 20 of this Regulation and Article 10 of Directive (EU) 2024/1640, trustees of express trusts or persons in an equivalent position in similar legal arrangements 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 Article 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 that is party to the legal arrangement equivalent to the information required under Article 62(1), second subparagraph, point (a), of this Regulation. ## Sources - AMLR Art. 64 — CELEX 32024R1624 - TJPG BBl 2025 2900, Art. 16