Fines and Sanctions
The half-million figure is often cited, but it presupposes intent—and is not the most severe consequence. Administrative measures are more effective: suspension of voting and property rights, ex officio registration, and, in extreme cases, dissolution. And the entry in the registry, which every bank can see, is made regardless of fault.
In a nutshell
- Maximum Fines
- CHF 500,000
- Only in the case of
- Intent
- Negligence
- Only in cases of a duty of supervision
- Second fine standard
- CHF 100,000
- Most Severe Measure
- Dissolution, Cancellation
- Responsible
- Highest Governing Body
- Limitation period
- 7 years
- Responsible
- Federal Department of Finance
Three Levels, Not One
Anyone who looks only at the bus frame underestimates the law in one respect and overestimates it in another. The consequences of a breach of duty are distributed across three levels that operate independently of one another.
Art. 43 and 44 TJPG. Requires intent, generally applies to natural persons, and is subject to a seven-year statute of limitations.
Art. 38 TJPG. Applies without fault, ranging from the obligation to remedy defects to the dissolution of the company.
Note, ex officio entry, and risk classification. Visible to third parties with registry access.
The third level is most often underestimated. It costs nothing and does not require any fault on your part—but it is the only one your bank sees.
The two criminal provisions
| Provision | Offence | Penalty |
|---|---|---|
| Art. 43 let. a | Violation of the reporting obligation under Art. 13, 14, or 17 of the TJPG—that is, the obligations of account holders, beneficial owners, and foreign legal entities | up to CHF 500,000 |
| Art. 43(b) | Violation of the obligation to file a report with the Transparency Register or the Commercial Register pursuant to Articles 9–11 or 17 of the TJPG—that is, the reporting obligations of the company; in the case of Article 17, those of legal entities governed by foreign law | up to CHF 500,000 |
| Art. 43 let. c | Providing false information to the supervisory authority or to third parties commissioned by it | up to CHF 500,000 |
| Art. 44 | Failure to comply with a final order issued by the supervisory authority that was issued with a warning of penalties | up to CHF 100,000 |
The heads of the supervisory body
Art. 38 TJPG structures the measures in a progressive manner. Each level requires more than the previous one—and none of them requires intent.
- Level 1: Requesting Correction If the supervisory authority determines that information is incorrect, incomplete, or out of date, it may require the legal entity to submit additional information, order the modification or deletion of information, or order that the result of the review be noted in the registry (Art. 38(1) TJPG).
- Stage 2: Suspension of Rights If reporting obligations are repeatedly violated or if a violation is not remedied despite repeated requests, the supervisory authority may suspend the participation and property rights of the shareholder or partner in question (Art. 38(2) TJPG).
- Stage 3: Dissolution or Deletion If, in addition to the conditions of Stage 2, circumstances exist that justify this step—in particular, if the legal entity clearly no longer engages in business activities or possesses any realizable assets—the supervisory authority may order its dissolution and liquidation in accordance with the provisions governing bankruptcy. In the case of legal entities governed by foreign law with a branch office, it may instead order the removal of this entry from the commercial register (Art. 38(3) TJPG).
Each stage assumes that you have not responded. Notices are sent to the legal entity’s address—in the case of outsourced administration, this is the mail that no one reads.
Launch Management ToolThe episodes in the catalog
This level runs in parallel and begins earlier than the other two.
- Request with a Deadline The authority maintaining the registry verifies whether the required reports have been filed. If they are missing, it requests that the reports be filed, sets a reasonable deadline, and explains the consequences (Art. 33(3) TJPG).
- Ex Officio Registration After the deadline has expired, the authority may register a legal entity that has not filed a report ex officio (Art. 33(4) TJPG).
- Note It adds a note to the entry if it receives a discrepancy report from a financial intermediary or an authority, if the legal entity has failed to comply with a request, or if the entity has reported that it was unable to complete the identification or verification (Art. 34 TJPG).
- Risk Classification The presence of a note results in the entity being assigned at least to the “medium risk” category (Art. 64(2) TJPV)—and the supervisory authority prioritizes its inspections accordingly.
What this means in practice
| Failure | Likely Consequence |
|---|---|
| Deadline missed inadvertently | Notice with a deadline, followed by ex officio registration; no fine as long as no one acted intentionally and no duty of supervision was violated |
| Request ignored | Entry in the registry, risk classification of at least “medium,” fees based on time and effort |
| Shareholder provides no information | Report pursuant to Art. 21 TJPV with a person providing information; entry; for the shareholder, Art. 43(a) TJPG if applicable |
| Misrepresentation of information to the audit firm | Art. 43(c) TJPG, full range of fines |
| Repeated violations despite warnings | Suspension of participation and property rights |
| Violation in the case of an inactive company with no assets | Dissolution and Liquidation Under Bankruptcy Provisions |
The table illustrates the pattern: The initial stage is rarely dramatic; escalation depends on one’s own behavior. Almost every serious consequence stems from a failure to respond to a request.
The most expensive scenario is the one where no one opens the mail
Penalties almost never result from intentional actions, but rather from deadlines that no one kept track of and official mail that was left unclaimed at an address.
- Monitor deadlines for each company
- Keep records up to date before discrepancies become apparent
- Maintain verifiable audit trails and documentation
- Ensure official mail reaches the department where it will be processed
- Identify notes and requests early
Details about your case
The sections above cover the typical scenario. These points concern costs, gaps in the list of penalties, and the procedure.
Costs as a Silent Sanction Reporting is free; no reminders are sent.
Between the demand for payment and the fine lies a level that is rarely mentioned: the fees.
| Background | Regulation |
|---|---|
| Art. 41, para. 1 TJPG | Registration, amendment, and deletion of an entry, as well as inspection and confirmation of the registration, are free of charge |
| Art. 41, para. 2 TJPG | Reminders, requests, and orders issued by the registry authority or the supervisory body, as well as the issuance of an extract, are subject to a fee |
| Art. 41, para. 3 TJPG | The control body may charge the costs of the review procedure to a person who breached their obligations, caused the procedure to be opened or hindered it |
| Art. 68, paras. 1 and 2, TJPV | Calculation based on time spent; hourly rate ranging from 100 to 150 francs, depending on the level of expertise required |
| Art. 68, para. 4 TJPV | Surcharges of up to 50 percent for exceptional scope, particular difficulty, or urgency |
| Art. 68(5) TJPV | Advance payment of costs is possible, including in cases of unfounded applications or where the applicant resides or has its registered office abroad |
The system is clear: Those who report on time and correctly pay nothing. Those who require a reminder pay based on the time and effort involved. And those who trigger an audit may be required to bear its costs—regardless of whether a fine is ultimately imposed.
What is not listed in the schedule of penalties: missing documentation and trustee obligations—but this is not without consequences.
Art. 43 TJPG provides an exhaustive list of punishable conduct. Two key obligations are missing from this list—a fact that is often overlooked, but that does not mean their violation is without consequences.
The obligations under Art. 8 of the TJPG—to document, keep records up to date, make them accessible in Switzerland, and retain them for ten years—are not mentioned in Art. 43 of the TJPG. Incomplete record-keeping as such is therefore not a criminal offense.
Art. 2(2) TJPG subjects trustees to the provisions of Art. 15 and 16 TJPG. Art. 43 TJPG does not mention Art. 16. The identification and documentation obligations of trustees are therefore also not directly subject to criminal penalties.
Procedures and Statute of Limitations The FDF has jurisdiction—and prosecutions can still proceed even after seven years.
In the case of violations of the TJPG, federal administrative criminal law applies.
The Federal Department of Finance is the authority responsible for prosecution and adjudication. The supervisory body is the unit within the same department responsible for conducting inspections (Art. 39(1) TJPG).
As part of its inspection activities, the inspection authority reports violations of the TJPG to the competent authority within the FDF and violations of Art. 327a of the Swiss Criminal Code (StGB) to the competent law enforcement authorities—for this provision, jurisdiction therefore does not lie with the FDF.
Criminal prosecution is barred by the statute of limitations after seven years.
If requested, the competent authority within the FDF submits the case files to the Office of the Attorney General of Switzerland, which forwards them to the Federal Criminal Court; such referral is deemed an indictment.
Frequently Asked Questions
How much is the fine really?
Article 43 of the TJPG provides for a fine of up to 500,000 Swiss francs. This is a maximum amount, not the norm: The fine is determined based on the degree of fault and the circumstances. In addition, Article 44 of the TJPG provides for a fine of up to 100,000 Swiss francs if a final decision by the regulatory authority is intentionally disregarded.
Is negligence also punishable?
Not for the person who committed the act: Both penal provisions require intent. Anyone who inadvertently misses a deadline is not liable to punishment under Articles 43 and 44 of the TJPG. However, Article 6(2) of the Administrative Penal Code contains an important exception: Anyone who, as a business owner, employer, or principal, intentionally or negligently fails to prevent a violation by a subordinate or agent is subject to the same penal provisions as that person. In the case of a legal entity, paragraph 3 applies to the responsible officers. The administrative consequences apply regardless of fault.
Who is punished: the company or an individual?
In principle, the responsible natural person. Article 45(1) of the Federal Act on Administrative Offenses (TJPG) declares federal administrative criminal law to be applicable, and this law targets the persons who committed the offense in the case of violations in business operations. Only if a fine of no more than 5,000 Swiss francs is at issue and identifying the person would entail a disproportionate effort may the legal entity be fined instead.
What does the suspension of rights mean?
Under Article 38(2) of the TJPG, the supervisory authority may suspend the participation and property rights of the affected shareholders or partners if reporting obligations are repeatedly violated or if a violation is not remedied despite repeated requests. Voting rights and dividend entitlements are thus suspended for as long as the violation persists.
Can the company be dissolved?
Only under additional conditions. Article 38(3) of the TJPG requires, cumulatively, a repeated violation or one that has not been remedied despite repeated requests, as well as circumstances that justify the action—in particular, if the legal entity clearly no longer engages in business activities or possesses any realizable assets. In the case of foreign legal entities with a branch office, an order may instead be issued to remove the branch from the commercial register.
How much does an audit procedure cost?
The supervisory authority may impose the costs of the supervisory proceeding on a person who has violated their obligations, caused the proceeding to be initiated, or hindered its conduct. Reminders, requests, and orders are billed based on time spent; the hourly rate ranges from 100 to 150 Swiss francs, depending on the expertise required, and surcharges of up to 50 percent may apply in cases of exceptional scope or urgency.
Which obligations are not included in the list of offenses?
Article 43 of the TJPG lists the reporting obligations under Articles 9 through 11, 13, 14, and 17, as well as providing false information to the supervisory authority. The documentation and retention obligations under Article 8 of the TJPG and the trustee obligations under Article 16 of the TJPG are not listed there. However, they are not without consequences: They result in a note on record, a risk classification, and measures taken by the supervisory authority.
When does the statute of limitations for criminal prosecution expire?
After seven years, according to Article 45(4) of the TJPG. This is significantly longer than the usual statute of limitations for misdemeanors and means that a failure to report an incident today can still be prosecuted years later.
Did you find the answer to your question? Then keep your reports and deadlines up to date in the management tool.
Launch Management ToolLegal Basis and Additional Resources
- Federal Act of September 26, 2025, on the Transparency of Legal Entities and the Identification of Beneficial Owners (TJPG, SR 955.3)
- Ordinance of June 12, 2026, on the Transparency of Legal Entities and the Identification of Beneficial Owners (TJPV, SR 955.31)
- Federal Act on Administrative Criminal Law (VStrR)
- More on this site: Report changes · Evidence and documents · Board of Directors’ responsibility · Deadlines
Last updated: September 16, 2026.
Almost every serious consequence begins with an ignored request
Fines are imposed only in cases of intent. Notices, fees, and suspensions apply to anyone who fails to respond. We keep your records up to date and ensure that deadlines and official correspondence reach the appropriate departments for processing.