How to Verify If a VAT VIES Guarantee Is Valid in Italy

If you have been presented with a bank guarantee or an insurance guarantee linked to VAT VIES registration, there is one crucial question you are probably asking yourself:

Is this guarantee genuine, or am I at risk of fraud?

This is a legitimate concern. In real-world cases, a guarantee may look perfectly valid until the moment it is actually needed. If it turns out to be invalid or fake at that stage, the consequences can be serious.

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There is another frequent and often underestimated risk. You may pay for a VAT VIES guarantee, submit it to the Italian Tax Authority, and after the standard review period of up to 30 days, receive a formal response stating that the guarantee is not valid or not acceptable for VAT VIES registration in Italy. At that point, the guarantee is useless, and the damage has already been done.

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This guide is designed as a practical checklist. It walks you step by step through the process of verifying a VAT VIES guarantee, helping you minimise the risk of accepting a fake or invalid guarantee.

It is important to clarify one key point from the start. The VIES system is used to verify whether a VAT number is registered and enabled for intra-EU transactions. It does not certify that a guarantee is authentic or legally valid. 

To verify a guarantee, you must check the issuing entity through IVASS/ Banca d’Italia/ ANAC , and verify the policy exclusively through official channels.

If you need immediate clarification, you may contact us online or reach one of our offices directly. Our contact details are provided at the end of this page.

1. What a VAT VIES guarantee is and when it is required

Let us start with the basics.

VIES, the VAT Information Exchange System, is the European database used to verify whether a VAT number is enabled for intra-EU transactions.(European Union)

A VAT VIES guarantee is a financial guarantee that may be required in specific cases, typically when a non-EU company registers for VAT purposes in Italy through a fiscal representative. In these situations, the Italian Tax Authority may require a financial guarantee to protect public revenue. (VIES Guarantee)

In practice, you may be presented with a bank guarantee or an insurance guarantee linked to VAT or VIES registration. Your task is to determine two things: whether the issuer is legally authorised, and whether the document itself is authentic and verifiable.

2. Not everyone is allowed to issue valid guarantees

Italian regulations are very clear on this point. ANAC + Banca d’Italia +IVASS Valid guarantees, including those used for VAT and public administration purposes, may only be issued by specific categories of entities.

These include banks, financial intermediaries authorised under Article 106 of the Italian Banking Act, major mutual guarantee institutions known as confidi that are registered under the same framework, and insurance companies authorised to operate in the surety or bonds line of business.

If a guarantee is issued by a generic consulting company, a fiduciary company, a microcredit provider, a minor confidi, or an entity with a name resembling a well-known bank, extreme caution is required. Many invalid guarantees originate precisely from these situations.

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3. Step 1: Verify the VAT number on the VIES system

This first step answers a basic question: does the VAT number actually exist and is it registered for intra-EU operations?

You should check the VAT number on the official VIES portal. If it is valid, this confirms that the VAT number is registered in the system.

However, this is only an initial filter. A valid VAT number does not guarantee that the financial guarantee itself is authentic or legally acceptable in Italy.  (European Union)

4. Step 2: If the issuer is a bank or financial intermediary, check the Bank of Italy

If the guarantee is issued by a bank or a financial intermediary, the primary reference authority is the Bank of Italy.

For an Italian bank, the institution must be listed in the official register and must not be subject to revocation, liquidation or suspension.

For a foreign bank, it must be authorised to operate in Italy and, crucially, its authorised activities must explicitly include the issuance of guarantees or commitments. Without this specific authorisation, the guarantee is not valid.

If the issuer is a non-bank financial intermediary, it must be registered under Article 106 and explicitly authorised to issue guarantees. Some categories, such as fiduciary companies or microcredit institutions, are not authorised to issue guarantees.

Confidi require special attention. Only major confidi registered under the correct regulatory framework may issue valid guarantees. 

Minor confidi are often not authorised, and this is a frequent source of invalid documentation.

5. Step 3: Insurance guarantees must be verified through IVASS

When dealing with an insurance guarantee, IVASS is the competent authority.

You must verify that the insurance company is listed in the IVASS register and authorised to operate in the surety or bonds line of business. 

Being an insurance company is not enough. The company must be specifically authorised for guarantees.

IVASS provides a dedicated section listing authorised insurers and the official procedures for policy verification. Some insurers offer online verification portals, others require verification via certified email. 

Verification must always be carried out using only the methods indicated by IVASS.

If the insurer does not appear in the IVASS lists for the surety line, the guarantee should be considered invalid for use in Italy.

6. Step 4: If a broker or intermediary is involved

Very often, the guarantee document also mentions a broker or insurance intermediary, sometimes including a website.

In these cases, two checks are required. The insurance company must be authorised by IVASS, and the intermediary must be registered in the RUI, the Italian Register of Insurance Intermediaries. It is also advisable to verify that the intermediary’s website is listed among those recognised by IVASS and to review independent feedback where available.

This step helps prevent a common scenario in which a genuine insurer’s name is used by an unauthorised distributor.

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7. Step 5: How to identify a counterfeit document

Even when the issuer is legitimate, the document itself may be forged.

Logos may be copied, policy numbers invented, and contact details manipulated. For this reason, official guidance strongly recommends never using the contact details provided within the document to verify its authenticity.

All checks should start from official institutional websites and registers.

You should verify that the legal name exactly matches the official one, that the policy or guarantee number is verifiable, that signatures are consistent with authorised roles, that dates are logical, and that amounts and beneficiaries match the underlying obligation.

8. The seven most common warning signs

Some red flags appear repeatedly in fraudulent cases. These include verification links leading to cloned websites, contact details that redirect to the fraudster, insurers authorised in the wrong line of business, minor confidi presented as authorised entities, intermediaries claiming authorisation they do not have, reliance on VIES alone as proof of validity, and unrealistically low prices combined with immediate issuance without documentation. (European Union)

9. A practical verification checklist

Before accepting a VAT VIES guarantee, confirm that the VAT number has been checked on VIES, that the type of issuer has been correctly identified, that banks and intermediaries have been verified through the Bank of Italy, that insurance guarantees have been verified through IVASS using official channels, that any broker involved is registered in the RUI, that no verification relied on links or contacts provided in the document, and that basic anti-counterfeiting checks have been completed. (European Union)

For companies and public bodies, this checklist can be formalised into an internal verification procedure, reducing errors and response times.

10. Frequently asked questions

How can I verify if a guarantee is genuine or fake
Always verify the issuer first through IVASS or the Bank of Italy, then verify the document through official channels. Never rely on contact details shown in the guarantee itself.

How do I check an insurance guarantee before accepting it
Verify that the insurer is authorised in the surety line and use only the verification methods listed on the IVASS website.

Where can I verify a bank or insurance guarantee
Banks and financial intermediaries are verified through the Bank of Italy. Insurance companies are verified through IVASS.

How can I tell if a foreign bank is authorised to issue guarantees in Italy
The bank must appear in the Bank of Italy registers and must have explicit authorisation to issue guarantees or similar commitments.

What should I do if a broker appears on the guarantee
Check that the broker is registered in the RUI. If it is not, this is a serious warning sign.

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What you should ultimately remember

VIES verifies a VAT number.
IVASS and the Bank of Italy verify who is authorised to issue guarantees.
A guarantee document must always be verified through official institutional channels.

If you have doubts about the validity of a guarantee you have received, it is safer to pause and verify than to proceed and face consequences later. A guided verification can help you confirm whether a guarantee is compliant and usable in Italy before you rely on it.