The obligation of financial institutions to record and report account information relating to foreign customers is laid down in Chapters 7 of Norwegian Act No. 14 of 27 May 2016 (the Tax Administration Act/Skatteforvaltningsloven). Statutory provisions are set out in Regulation No. 1360 of 23 November 2016 (the Tax Administration Regulation/Skatteforvaltningsforskriften).
The financial institutions covered by the obligations and the customer information they must record and report are described in more detail in Section 7-3 of the Tax Administration Act and Section 7-3 of the Tax Administration Regulation.