How to notify the tax office about opening an account abroad
Miscellaneous / / July 13, 2022
If you don't, you may be fined.
Why notify the Federal Tax Service about a foreign account
This is a requirement lawFederal Law No. 173-FZ of December 10, 2003 "On Currency Regulation and Currency Control". You need to notify the tax office:
- If you opened an account or a deposit abroad;
- your account details have changed;
- you have closed an account or a deposit abroad.
And this applies not only to banks, but also to all other institutions that keep money and other financial assets in their accounts. For example, you also need to report a foreign brokerage account.
The law extends this obligation to all residents. And here it is important not to confuse: we are talking about currency residency, and not about tax residency. In the second case, a person loses this status if he lives abroad for a total of 183 days a year. Currency resident - any citizen of Russia, except for those whoLetter of the Federal Tax Service dated July 16, 2017 No. ZN-3-17 / 5523@ "On consideration of the appeal":
- resides permanently in another state for more than a year, including on the basis of a residence permit;
- stays abroad for more than a year on a study or work visa.
It is also not necessary to report accounts if you are dealing with a branch of a Russian bank abroad.
If you do not belong to any of these categories, you need to keep the state informed about foreign accounts. But that's not all. As long as you have an account or a deposit abroad, you need to report annually on the movement of funds on them.
How long does it take to notify the tax office of opening an account abroad?
This must be done within 30 days of the event to be reported. But there is a relief for tax non-residents. They can report to the Federal Tax Service about changes related to accounts abroad by July 1 of the next year. That is, if you opened a deposit abroad in July 2022, you must send a notification before July 1, 2023.
The report on the movement of funds on accounts for the year must be submitted no later than July 1 of the following year.
What happens if you do not notify the tax office about opening an account abroad
For this case, there are finesCode of Administrative Offenses of the Russian Federation, article 15.25 "Violation of the currency legislation of the Russian Federation and acts of currency regulation bodies":
- If you do not send a notification, 4-5 thousand rubles will be taken from an individual.
- If you delay the submission of information, then 1-1.5 thousand.
The amounts are small, but they can be increased.
This begs the question: how does the tax office find out about accounts abroad? Of course, you may not find out. But in general, the Federal Tax Service works very effectively in terms of identifying such data. Thanks also to exchange of financial informationOrder of the Federal Tax Service of November 03, 2020 No. ED-7-17 / 788@ "On approval of the List of states (territories) with which automatic exchange of financial information is carried out" with other countries. Now this mechanism may work worse, but this does not mean that the data will not reach Russia. So weigh the risks if you decide to evade.
How to notify the tax office about opening an account abroad
You can fill out the notification form (here form) and take it to the Federal Tax Service in person or send it by registered mail with an inventory of the attachment. But these are very labor-intensive options compared to filing a document online. in personal account on the FTS website. Let's consider it.
If this is your first time encountering a tax website, read the tax deduction article instructionshow to enter your personal account and get an electronic signature - you will need it. Now let's get to the point.
On the main page of your personal account, select the section "Life situations", then "Accounts in banks located outside the Russian Federation".
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On the page that opens, four forms are available for all those four situations in which you need to interact with the Federal Tax Service regarding foreign accounts. Forms are more or less intuitive. Let's consider the one that the user will encounter first - the account opening notification. The rest can be filled in by analogy.
Click "Notify about the opening of an account (deposit) in a bank or other financial market organization located outside the territory of the Russian Federation."
In the notification form that opens, information about the taxpayer and information about the inspection to which the document will go will be filled in automatically. Then you will need to select the tax office in which the application will go from the drop-down list. Most often there will be only one inspection - on-site registration. But it happens that several tax authorities offer. This happens if, for example, you have real estate in another region and you pay property tax for it. Choose the one that is located at the place of permanent or temporary registration. If the latter is not available, the inspection where you pay property taxes will do. If there is no property, click on any.
Then there will be a block "Sign of notification". Here you mark, in fact, whether you are a tax resident or not. If you lived in Russia for more than 183 days a year, choose "in pursuance of part 2 of article 12", if less - "in pursuance of part 8 of article 12".
Then you need to fill in the account information and bank information. Look for the data in your contract with the institution.
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After that, click the "Next" button, on the page that opens, enter the password for the electronic signature and click on the "Submit" button.
What happens if the notification is incorrect
You will have the opportunity to submit a corrective document in the same place in your personal account.
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