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Extended Filing Deadline for Individuals’ 2019 Foreign Bank Accounts (Deposits) Report

Foreign Bank Accounts (Deposits) Report

The deadline for filing of individuals’ 2019 report on accounts (deposits) opened with banks outside Russia has been extended. It must be filed with the tax authorities by 1 December 2020. The amendment was introduced by Resolution of the Russian Government 30 May 2020 No. 792 "On the Amendments to Resolution of the Government of the Russian Federation of 2 April 2020 No. 409 ". This Resolution was published yesterday on www.pravo.gov.ru.

Note that the obligation to file the above mentioned report for 2019 applies to Russian citizens and foreign nationals/stateless persons who permanently reside in Russia based on a permanent residence permit except for individuals, who in 2019 spent more than 183 days outside of Russia, and individuals with regard to accounts (deposits)* where the total of credits/debits for 2019, and in the absence of credits – the balance at the year-end on each of account (deposit) does not exceed RUB600,000 or an equivalent in a foreign currency.

*Provided that the account (deposit) is opened with a bank in the territory of a member state of the EEU or in the territory of a foreign country that exchanges information with Russia under the Multilateral Agreement of the competent authorities on the automatic exchange of financial information of 29 October 2014 or another international agreement concluded with Russia establishing the automatic exchange of financial information.

Контакты

Donat Podnyek
Partner, Tax and legal, People Services
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: dpodnyek@kpmg.ru

Olga Zamesina
Tax and legal, People Services
KPMG in Russia and the CIS
Director
KPMG in Russia and the CIS
Т: +7 495 937 44 77
Е: ozamesina@kpmg.ru

Ekaterina Tibilova
Tax and legal, People Services
KPMG in Russia and the CIS
Manager
КПМГ в России и СНГ
Т: +7 495 937 44 77
Е: etibilova@kpmg.ru