Swiss & US custodians
Through a Swiss SEC-registered investment adviser
A US client chooses a custodian in collaboration with a Swiss SEC RIA and gives the Swiss SEC RIA a discretionary mandate with a limited power of attorney to manage the account (or an advisory mandate) held with the custodian.
Swiss SEC RIAs may collaborate with several Swiss and/or US custodians, the choice is yours.
Some Swiss custodians
Bank J. Safra Sarasin, Dreyfus Banquiers, DZ Bank, EFG International, Julius Baer, Rahn + Bodmer, Reichmuth & Co., Syz, UBP, UBS, Vontobel.
The Swiss custodian adheres to FATCA requirements and issues all the statements and documents required for timely FBAR and correct tax reporting with the IRS.
Swiss SEC RIAs working with US custodians
Some US custodians
Interactive Brokers, Merrill Lynch, Morgan Stanley, HSBC.
By using a US custodian, US clients are not subject to FATCA and FBAR reporting issues.