Please note that the following answer only applies to clients residing in Germany.‌

You can easily set up, review or change your exemption order digitally: Log in to your personal client area and go to 'Profile'. In the 'Taxes' section, you can set up, review or change your exemption order. If you have submitted an exemption order for 2024 that is valid 'until further notice', it will also be valid for the following year.

Exemption orders for the 2024 tax year must be submitted by 31 December 2024. Please note that applications submitted after 15 December 2024 may not be processed until January 2025. Important: This will not put you at a tax disadvantage.

It may take several bank working days for the custodian bank to process your exemption order. Until the new amount is finally deposited, the previous amount will be displayed. You do not need to do anything during this time.