After the delayed sending of annual tax certificates by Commerzbank, the financial supervisory authority Bafin is now taking all banks to task. The forms on capital gains taxes, which were withheld by them on interest and dividends of their customers over the course of a year, must be issued by the institutions "from now on at the latest by June 30 of the respective following year," the authority demands in a "supervisory notice".

Hanno Mußler

Editor in business.

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Your bank's annual tax certificate makes it easier for individuals to declare capital gains on their income tax return; but above all, it allows you to apply for a refund of excess withheld capital gains tax. This is regularly relevant for those persons whose personal income tax rate is below the final withholding tax rate of 25 percent or who have not exhausted their savers' allowance. Tax-relevant losses, for example from the sale of securities, may also not have been taken into account.

With Commerzbank, including its Comdirect brand, sending out thousands of tax certificates late in 2022 due to IT issues, customers were unable to file their 2021 tax returns on time. The deadline for submission had already been extended by three months to October 31, 2022.

In an arbitration award at the beginning of 2023, the ombudsman of the private banks ruled that Commerzbank had to pay 5 euros in damages to a customer who expected a tax refund of 000,150 euros – based on the assumption of 6 percent interest for a payment of 5,000 euros lost for six months. In order to limit the often great anger of its customers about the late delivery of tax certificates for 2021, Commerzbank has also tried to find goodwill solutions – such as free securities transactions in individual cases.

In 2023, Commerzbank plans to send all tax certificates by the end of June. "Usually, institutions issue the annual tax certificates by the end of the first quarter," says Bafin. Anyone who writes their income tax return for 2022 without the support of a tax advisor or income tax assistance association must submit it by September 30, 2023 – two months later than usual.