On 4 February 2016, Switzerland and Canada signed a joint declaration in Ottawa on the introduction, on a reciprocal basis, of the automatic exchange of information (AEOI) in tax matters. Since 2017, Swiss financial institutions have collected financial account information relating to Canadian taxpayers. The Federal Tax Administration sends the information automatically to the Canadian tax authorities on an annual basis, with the Canadian tax authorities providing equivalent information to the FTA.
AEOI affects, for example, Swiss nationals who are domiciled in Canada for tax purposes and hold an account or custody account at a Swiss financial institution. AEOI also extends to information on accounts set up to facilitate state pensions payments. Swiss nationals in Canada may disclose undeclared assets under Canada's Voluntary Disclosures Program, enabling them then to switch to the AEOI system.