Unofficial translation provided for information purposes.

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Target audience

New creating reporting institutions and foreign reporting institutions opening a new branch in Spain only in case they do not foresee, in the long term, opening products subject to reporting to the Centralized Banking Account Register (FTF, from its initials in Spanish).

Process

If the new reporting institution, owing to the nature of its activity, does not foresee, in the long term, opening products subject to reporting to the FTF, it shall send the attached letter before the seventh business day of the month following to its inclusion in the Intitutions Register by the Bank of Spain. Once this formality have been carried out, these entities shall not send any file by any electronic means.

In Spanish only. Declaración negativa inicial al Fichero de Titularidades Financieras

Otherwise, the new reporting institution shall send a file with the relevant information corresponding to the previous month during the first seven business days of the month following to its inclusion in the Institutions Register by the Bank of Spain, in accordance with the specifications and technical requirements provided in the “Instrucciones” (see procedure on reporting institutions).