Tax & Residency Data

Why does Penta need tax data about my company?

Together with our partner bank Solarisbank AG we are required by law to collect tax data about your company. We need from you: The tax identificati...

What is my Tax Identification Number (TIN)?

The tax identification number (TIN) is also known as the "" in Germany.  The TIN is in most cases a 10 or 11 digit number and usually has the fol...

Where can I find the German Tax Identification Number (TIN)?

Your local tax office should have sent you a letter containing your TIN as part of the company formation process. Y ou can also contact your company's...

What is the Common Reporting Standard?

The Common Reporting Standard (CRS) is an intergovernmental data exchange standard of the Organisation for Economic Co-operation and Development (OECD). The...

Which CRS category should I select for my company?

The Common Reporting Standard (CRS) is divided into different categories. As with any tax directive, these can seem complicated at first glance. In the next...

What is an "Active non-financial entity" (NFE) ?

You can most likely be considered an "Active non-financial entity" if you fall in any of the sub-categories below: Operational company: Your busi...

What is a "Passive non-financial entity"(NFE)?

If your company does not fall under the definitions of an "Active NFE" and is not an "FI" ("Financial Institution"), then your...

What is a "Passive non-financial entity investment holding type B"?

Your business is an investment entity located in a non-participating jurisdiction and is managed by another Financial Institution. Important note: We do...

What happens if I don't provide my tax information within 90 days of account opening?

If you do not provide your tax information within 90 days of opening your account, we are required by law to temporarily block your account automatically un...

Will Penta share my tax information with third parties?

Penta and Solarisbank AG respect data privacy and attach great importance to the security of your data.  Your tax-related data will only be disclosed wi...