Entry into Force of the Federal Act on the Transparency of Legal Entities: Transitional Periods and Practical Preparation for Reporting Obligations

The reporting obligation to the transparency register generally arises upon the entry into force of the Transparency Act (TJPG). From that date, obliged legal entities must identify, document and report their beneficial owners to the transparency register within the statutory deadlines. The obligation arises automatically by operation of law and does not depend on a prior request by the authorities.

The Transparency Act does not provide for a single uniform transitional period. The applicable deadlines depend on the legal form, audit status and complexity of the ownership structure. In simple cases where all beneficial owners are already identifiable from the commercial register, a transitional period of up to two years applies. In all other cases, significantly shorter deadlines of three to six months apply.

Yes. A first change entered in the commercial register after the entry into force of the Transparency Act may trigger the reporting deadline independently of the general transitional period. In such cases, the reporting period begins with that change, even if the ordinary transitional period has not yet expired. Companies should therefore carefully plan any commercial register changes after the Act enters into force.

Companies can prepare effectively by clarifying and documenting their ownership structure at an early stage. This includes identifying the beneficial owners and systematically recording the relevant information. Early preparation reduces time pressure, minimises errors and significantly facilitates later reporting to the transparency register.

The existing register of beneficial owners remains relevant under the Transparency Act. Information already collected and documented under current law can generally continue to be used, provided that it complies with the new legal requirements and is up to date. In addition, such records must be retained for ten years. Companies should therefore review, update and archive their existing register in an audit-proof manner.