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This document outlines the data exchange standards and specifications for reporting foreign trade payments between financial institutions and the Deutsche Bundesbank, as mandated by German regulation.

How to fill out file structure and specifications

How to fill out File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)

1. Gather all necessary information regarding the payment, including details of both the payer and payee.
2. Determine the correct payment method and ensure it complies with AWV regulations.
3. Fill out the required fields such as payment amount, currency type, and transaction date.
4. Provide supporting documentation as required, ensuring it aligns with the specifications outlined in sections 59 et seq.
5. Review the filled form for accuracy and completeness before submission to avoid compliance issues.
6. Submit the form through the appropriate platform designated for filing foreign trade payments.

Who needs File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

1. Businesses engaging in international trade that make or receive foreign payments.
2. Financial institutions processing foreign trade payments on behalf of clients.
3. Compliance officers responsible for ensuring adherence to the Foreign Trade and Payments Regulation.
4. Exporters and importers who must report their transactions under AWV regulations.

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The AWV reporting obligation applies for all transfers abroad or from a foreign account to Germany for amounts from EUR 12,500. It applies to private individuals and companies alike. If you do not action your reporting obligation for a foreign transfer, you risk high penalties.

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The German Foreign Trade and Payments Act regulates the movement of economic goods such as goods, foreign exchange or services from abroad. Since 1961, it has formed the framework for the organisation of trade with other countries.

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The abbreviation AWV stands for the Foreign Trade and Payments Ordinance. It actually lays down a certain procedure if you send a specific amount of money from Germany abroad or receive money from another country.

For pdfFiller’s FAQs

What is File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

The File structure and specifications for foreign trade payments are guidelines set by the AWV outlining the format, contents, and submission procedures for reports related to payments in foreign trade. This ensures compliance with national regulations concerning international transactions.

Who is required to file File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

Individuals and entities engaged in foreign trade that exceed specified thresholds in terms of payment amounts or advance data submission requirements are mandated to file these specifications. This typically includes exporters, importers, and financial institutions facilitating these transactions.

How to fill out File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

To fill out the File structure and specifications, users must accurately input necessary data such as transaction amounts, counterpart details, currency, and purpose of payment. Each field must be completed as per the specific format defined in the AWV regulations and submitted through the designated electronic systems.

What is the purpose of File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

The purpose of these specifications is to ensure transparency and compliance in foreign trade transactions, monitor capital movement, and prevent illegal activities such as money laundering and tax evasion through proper reporting.

What information must be reported on File structure and specifications for foreign trade payments pursuant to sections 59 et seq of the Foreign Trade and payments Regulation (AWV)?

Required information includes the amount of payment, currency type, the identity of the payer and payee, transaction date, and a detailed description of the goods or services involved. Additional identifiers may also be required to ensure proper classification and tracking.