By June 1, individuals are required to submit a report on accounts to the Federal Tax Service
Individuals who have accounts abroad or electronic wallets are required to report this to the Federal Tax Service by submitting a Report on the Flow of funds and other financial assets on accounts and deposits in banks and other financial market organizations located abroad, and on money transfers without opening a bank account using electronic means of payment provided by foreign payment service providers.
If you open an account or deposit abroad, you need to notify the Federal Tax Service. The rules apply to all accounts, deposits abroad in banks or other financial organizations that account for cash and other financial assets.
What else do I need to notify the tax service about:
– about closing an account or deposit abroad;
– about changing their details.
This rule applies to residents of Russia, with the exception of:
– Russian citizens who have been permanently residing in another state for at least a year, including with a residence permit;
– Russian citizens who temporarily stay in a foreign country for at least a year on a work or student visa with a validity period of at least a year.
Residents of Russia must report these data to the tax authority at the place of registration no later than one month from the date of opening, closing an account or deposit, or changing the details. Residents of Russia who are not tax residents at the same time must also report on foreign accounts.
There are several ways to apply for a foreign account:
– through inspection;
– by mail with delivery notification;
– online with an electronic signature;
– through the taxpayer’s personal account on the FTS website.
If you are late with the submission of the notification or send it out of form, you will be charged a fine:
– for citizens: from 300 rubles to 500 rubles, if you delay the submission of the report by no more than ten days, the delay is more than ten days, but less than 30 days — 1 thousand rubles to 1.5 thousand rubles, more than for 30 days — from 2.5 thousand rubles to 3 thousand rubles;
– for officials: from 5 thousand rubles to 10 thousand rubles; – for legal entities: from 50 thousand rubles to 100 thousand rubles.