Press Release

PostFinance to take part in US program

PostFinance has decided to join the program to settle the tax dispute with the US. It will register as a Category 2 participant with the Department of Justice (DOJ) by the deadline at the end of December. PostFinance will keep the option open to apply for a "non-target letter" in accordance with Category 3 at a later time.

The decision to opt for Category 2 is based on the current uncertainty concerning PostFinance's eligibility for Category 3. It is also unclear to what extent PostFinance's unique business model with its universal service obligation for payment transactions is taken into consideration within the scope of the program. With this approach, PostFinance wishes to minimize the risk of coming into conflict with foreign authorities for the company, for its customers and for its employees. If it should decide to change to Category 3, it will do so between 1 July and 31 October 2014.