BNP Paribas extends RAQUEST partnership for MiKaDiv reporting
11 November 2026 Germany
Image: ultramcu/stock.adobe.com
BNP Paribas’ Securities Services business has extended its collaboration with RAQUEST to strengthen its tax reporting capabilities ahead of Germany’s new MiKaDiv reporting requirements, which take effect on 1 January 2027.
The bank will implement RAQUEST’s MiKaDiv solution to support its withholding tax reporting obligations across multiple custody and intermediary roles.
As a German sub-custodian, BNP Paribas will report directly to the German Federal Central Tax Office (BZSt) on behalf of its clients.
In its roles as a global custodian and sub-custodian in other European markets, the bank will exchange MiKaDiv reports and responses with multiple international central securities depositories (ICSDs), CSDs, and custodians.
BNP Paribas will also provide indirect MiKaDiv reporting for intermediary clients benefiting from tax reclaims and relief at source, validating, and processing reporting requests received through the payment chain.
Alexander Lerch, co-founder and CEO of RAQUEST, says: “With MiKaDiv, reporting obligations along the custody chain are changing fundamentally. Institutions with several roles need technology that can handle this complexity in an integrated way.
“BNP Paribas’ Securities Services business brings all its MiKaDiv reporting needs together in one suite across the business line. With the STTI Gateway already in place, we can build on a proven foundation.”
Mariangela Fumagalli, head of Asset Servicing Product and Custody Regulatory Solutions, Securities Services, BNP Paribas, adds: “We strongly believe in the digitalisation of tax processes, including our interactions with tax authorities, to automate the exchange of tax information and make it more secure.
“By integrating RAQUEST’s MiKaDiv suite, we further digitalise and industrialise our tax reporting, as a first step towards the implementation of the EU FASTER Directive in 2030.”
The bank will implement RAQUEST’s MiKaDiv solution to support its withholding tax reporting obligations across multiple custody and intermediary roles.
As a German sub-custodian, BNP Paribas will report directly to the German Federal Central Tax Office (BZSt) on behalf of its clients.
In its roles as a global custodian and sub-custodian in other European markets, the bank will exchange MiKaDiv reports and responses with multiple international central securities depositories (ICSDs), CSDs, and custodians.
BNP Paribas will also provide indirect MiKaDiv reporting for intermediary clients benefiting from tax reclaims and relief at source, validating, and processing reporting requests received through the payment chain.
Alexander Lerch, co-founder and CEO of RAQUEST, says: “With MiKaDiv, reporting obligations along the custody chain are changing fundamentally. Institutions with several roles need technology that can handle this complexity in an integrated way.
“BNP Paribas’ Securities Services business brings all its MiKaDiv reporting needs together in one suite across the business line. With the STTI Gateway already in place, we can build on a proven foundation.”
Mariangela Fumagalli, head of Asset Servicing Product and Custody Regulatory Solutions, Securities Services, BNP Paribas, adds: “We strongly believe in the digitalisation of tax processes, including our interactions with tax authorities, to automate the exchange of tax information and make it more secure.
“By integrating RAQUEST’s MiKaDiv suite, we further digitalise and industrialise our tax reporting, as a first step towards the implementation of the EU FASTER Directive in 2030.”
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