Individuals must submit a report on foreign accounts by 3 June 2024

As we approach the summer of 2024, there is an important deadline for individuals who have accounts in foreign banks and money in foreign e-wallets. Under Russian law, such individuals are required to file a notification of their foreign financial assets with the Russian Federal Tax Service (FTS) at their place of residence. The usual deadline for filing the report is 1 June of the year following the reporting year, but in 2024 the last day for filing the report is postponed to 3 June, as 1 June falls on a holiday.

Who is obliged to submit the report?

The obligation to submit a report includes:

  • Russian residents;
  • Individual entrepreneurs;
  • Foreign citizens who have a residence permit in Russia.

This requirement applies to account holders, regardless of the volume of turnover and account balances.

Specification for e-wallets

A report on electronic wallets must be submitted if the turnover or balances on the wallet for the reporting period exceed 600 thousand roubles or the equivalent of this amount in another currency.

Exceptions to the rules

Do not need to submit a report:

  • Persons who are not Russian residents;
  • Holders of accounts or deposits opened in branches of Russian banks abroad.

Special conditions are provided for accounts in banks of member states of the Eurasian Economic Union (EAEU) and countries with which Russia has an electronic exchange of information. Here, the obligation to declare arises if there is a turnover or account balance of more than 600,000 roubles. Do not miss the opportunity to settle your tax obligations in time to avoid possible fines and other unpleasant legal consequences.

Source: https://buh-a.ru/novosti/11-novosti/289-fizlitsa-dolzhny-sdat-otchet-o-zarubezhnykh-schetakh-k-3-iyunya-2024-goda

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If you need help in preparing and filing a report, contact AuditorIya. Our experts have all the necessary experience and knowledge to help you handle this task efficiently and without errors. You can find out more about our services by contacting us:

Website: https://buh-a.ru/
WhatsApp: +7 925 532 66 80
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