Why is the personal tax ID of the beneficial owner required?

Swan, our account-holding bank, is legally required to verify the identity of all beneficial owners as well as authorized persons (e.g., Admin Managers) in accordance with the regulations of BaFin. This regulation is particularly aimed at preventing tax evasion and money laundering and is based on Sections 154 and 93b of the German Fiscal Code (Abgabenordnung, AO).

Collecting the tax ID is a mandatory part of this process. Normally, this step is automated via the Federal Central Tax Office (BZSt), which many traditional banks handle in the background. However, Swan does not currently use this automated interface – which is why the tax ID is requested manually.

Important: HelloBonnie has no access to this data and does not store it. The tax ID is transmitted exclusively to Swan and is used solely for legally required identification purposes – not to assess or influence Your personal tax situation.