All payment service providers offering SEPA credit transfers must submit their first standardized annual report to national competent authorities by 9 April 2026. The reporting obligation is established under the Instant Payments Regulation, which entered into force on 8 April 2024. The European Banking Authority postponed the original April 2025 deadline by 12 months to allow industry alignment on reporting templates.
Reports must detail charge levels for both instant and non-instant credit transfers. PSPs must also disclose the share of transactions rejected due to EU sanctions screening, calculated separately for domestic and cross-border payments. National competent authorities will use the data to assess compliance with the IPR requirement that instant credit transfers must not cost more than standard credit transfers.
The reporting deadline follows the 9 October 2025 mandate, when all eurozone PSPs were required to offer outbound instant credit transfers and implement Verification of Payee on all SEPA credit transfers. EBA Clearing confirmed its STEP2 and RT1 platforms completed the changeover on schedule. More than 55 participants across 14 countries have adopted EBA Clearing's FPAD Verification of Payee solution. These participants represent over 40% of combined STEP2 and RT1 traffic.
Non-eurozone EU member states face their own compliance deadlines in 2027 and 2028. Annual IPR reporting becomes a recurring obligation, with subsequent reports due each April.