What are the tax implications of consolidating multiple investment accounts in Germany?

• A custody transfer in-kind keeps your original cost basis and does not trigger tax; a sell-and-buy move realises gains and does trigger tax.
• Keep EUR cost basis and acquisition dates for every lot. Brokers differ in what they carry over:export everything before moving.
• If sales are unavoidable, stagger across tax years and offset with losses where possible. Use allowances efficiently.

• In-kind transfer (Depotübertrag ohne Eigentümerwechsel): Positions move to the new broker without selling. Ask both brokers whether they support this across borders and what data transfers with it (purchase dates, lot details).
• Sell → cash transfer → rebuy: Simpler operationally, but all gains become taxable in Germany at sale. Only do this when the benefits outweigh the tax.

• Trade confirms showing purchase dates, quantities, prices, fees.
• Dividend/interest statements and prior withholding.
• Corporate actions (splits, mergers).
• Your own EUR conversion for non-EUR trades if the broker doesn’t provide it.
• A simple spreadsheet with ISIN, purchase date, quantity, EUR cost.

• Use your allowance first, then your partner’s if filing separately.
• Offset gains with losses (mind matching rules and substantiation).
• Spread sales over two calendar years to use allowances twice.
• Prefer selling positions with small gains or losses first.
• Reinvest proceeds quickly to avoid market-out risk.

• Some foreign brokers won’t transfer to German brokers in-kind. If you’re non-EU transferring to EU, ask about acceptance lists.
• For past residence periods abroad, ensure you have local tax forms in case German authorities ask for background.
• US persons: consider PFIC/PRIIPs issues and keep a US brokerage for US-domiciled ETFs.

1. List all accounts and tick which positions can move in-kind.
2. Export all PDFs/CSVs; build the EUR basis sheet.
3. Move what you can in-kind first.
4. For the rest, plan tax-aware sales over one or two years, using losses where available.
5. Recreate your simple ETF plan at the destination broker.

• Assuming a transfer is in-kind when the broker actually sells behind the scenes: get it in writing.
• No EUR basis. Reconstructing later is painful.
• Selling everything in December and missing the chance to split across years.
• Letting tax be the only driver:risk control and simplicity matter too.

1. Ask both brokers for in-kind capabilities and data they carry.
2. Export all records and build your EUR basis file.
3. Plan any unavoidable sales using your allowances and losses.
4. Rebuild a two-ETF core at the new broker and set up automated savings.

🧮 Model future outcomes with our ETF Investment Calculator and see All Calculators for tax and property scenarios.

⚠️ IMPORTANT LEGAL DISCLAIMER:

This content is for educational and informational purposes only and does not constitute financial, tax, legal, or investment advice. You should not rely on this information as a substitute for, nor does it replace, professional financial or tax advice. Always consult with qualified professionals (tax advisors, financial planners, lawyers) before making any financial decisions or taking any actions based on this information.

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Disclaimer: This is general information and may differ for individual cases. Learn more about financial planning with Financemate in a discovery call. Confirm with your brokers and tax advisor before moving assets.