Information obligations for insurers from third countries
Here you will find more detailed information on the obligation of insurers from third countries to provide information to policyholders and Tax Authority Austria.
Who is affected by the obligation to provide information pursuant to § 7 (3) Insurance Tax Law (VersStG)?
Insurers that do not have a registered office or place of management in a Member State of the European Union or a contracting state of the treaty on the European Economic Area are generally not required to calculate and pay insurance tax for their policyholders. Since 1 January 2024, however, these insurers have been able to carry out self-calculation and payment on a voluntary basis (you can find more information here).
If the insurer does not make use of this option, it must notify both the policyholder and Tax Authority Austria.
What are the consequences if the obligation to provide information is not complied with?
If the insurer fails to fulfil its obligation to inform, it is liable for the insurance tax.
Obligation to provide information to Tax Authority Austria
The obligation to provide information to Tax Authority Austria applies to those insurance relationships,
- that are established after 31 December 2023,
- for which Austrian insurance is compulsory and
- for which no use is to be made of the authorisation to self-calculate.
The obligation to provide information to the Tax Authority Austria includes the following data:
- Name of the insurer
- Place of management or registered office of the insurer or the third party to whom the insurance premium is paid
- Name and date of birth of the policyholder
- Address of the policyholder
- Object of the insurance
- Sum insured in euros
- Duration of the insurance
- Date of the start of payment of the insurance premium
- Period for which the insurance premium is paid and payment date of the insurance premium
- Amount of the insurance premium in euros
To fulfil the information obligation, the form Vers 6 must be sent to Tax Authority Austria - Special Responsibilities Unit.
The transmission can be sent by post to the address
Finanzamt Österreich
Dienststelle Sonderzuständigkeiten
Postfach 222
1000 Wien
or as an encrypted e-mail to post.fa10-ic01@bmf.gv.at.
If the data of several policyholders are to be reported, it is advisable to complete form Vers 6 as a DOK online form. Any number of policyholders can be added here.
Note
The transmission by e-mail is a temporary solution. An alternative technical option for the electronic transmission of the form will be announced at the beginning of the second half of 2024.
The following deadlines must be observed when submitting the Vers 6 form:
1) An insurance relationship that is subject to Austrian insurance tax is newly established:
Transmission by 31 March of the year following the establishment of the insurance relationship.
Example
Conclusion of a life insurance policy with a person resident in Austria on 1 February 2024:
Transmission of Vers 6 by 31 March 2025
2) In the case of an existing insurance relationship, Austrian insurance tax is triggered at a later date by a change in the risk location:
Transmission by 31 March of the year following the year in which the tax liability first arises in Austria.
Example
Conclusion of a life insurance policy with a person domiciled in a third country on 1 February 2024. Relocation of this person to Austria and payment of a premium on 1 April 2025:
Transmission of Vers 6 by 31 March 2026
3) In the case of an existing insurance relationship for which Austrian insurance tax liability also exists, the insurer only decides later that it no longer wishes to carry out self-calculation:
Transmission by 31 March of the year following the date from which the insurer no longer exercises its right to self-calculation.
Example
Conclusion of a life insurance policy with a person resident in Austria on 1 February 2024 and self-calculation of insurance tax by the insurer. From 1 October 2026, however, policyholders will no longer be required to calculate their own premiums:
Transmission of Vers 6 by 31 March 2027
Obligation to provide information to policyholders
The obligation to inform policyholders applies to those insurance relationships,
- for which Austrian insurance is compulsory and
- for which no use is made of the authorisation to self-calculate.
In contrast to the obligation to inform Tax Authority Austria, policyholders whose insurance relationships were concluded before 1 January 2024 must also be informed.
The obligation to provide information to the Tax Authority Austria includes the following obligations and data:
- Obligation of the policyholder to calculate the insurance tax themselves
- Obligation of the policyholder to pay insurance tax to Tax Authority Austria
- Name of the insurer
- Place of management or registered office of the insurer or the third party to whom the insurance premium is paid
- Policy number of the insurance contract
- Object of the insurance
- Sum insured in euros
- Duration of the insurance
- Period for which the insurance premium is paid and payment date of the insurance premium
- Amount of the insurance premium in euros
The information to the policyholder must be in writing - in a language that the policyholder understands.
The following deadlines must be observed for the obligation to inform the policyholder:
1) An insurance relationship subject to Austrian insurance tax is newly established after 31 December 2023:
Information in the course of establishing the contract
Example
Conclusion of a life insurance policy with a person resident in Austria on 1 February 2024:
Information for the policyholder in the course of concluding the contract
2) An insurance relationship that is subject to Austrian insurance tax is established before 1 January 2024:
Information until 31 August 2024
Example
Conclusion of a life insurance policy with a person resident in Austria on 1 October 2023:
Information for the policyholder by 31 August 2024
3) In the case of an existing insurance relationship for which Austrian insurance tax liability also exists, the insurer only decides later that it no longer wishes to carry out self-calculation:
Immediate information from the time when the insurer no longer carries out the self-calculation
Example
Conclusion of a life insurance policy with a person resident in Austria on 1 February 2024 and self-calculation of insurance tax by the insurer. From 1 October 2026, however, policyholders will no longer be required to calculate their own premiums:
Immediate information of the policyholder (from 1 October 2026)
4) In the case of an existing insurance relationship, Austrian insurance tax is triggered at a later date by a change in the risk location:
Information within 3 months of the first arising tax liability
Example
Conclusion of a life insurance policy with a person domiciled in a third country on 1 February 2024. Relocation of this person to Austria and payment of a premium on 1 April 2025:
Information for the policyholder by 1 July 2025