If you have chosen to open an N26, Revolut, Trade Republic, Coinbase, Binance, or even Degiro account, you are one of the French people to have an account abroad. Regarding bank, investment, notary, stockbroker, or even life insurance accounts, a declaration to the French tax authorities is mandatory when completing your income tax return. The measure is aimed at open and even closed accounts.
Why not underestimate the process?
In 2022, the number of foreign banking and financial services has exploded in France. This is why it is not uncommon to claim to have to declare the opening of one, two or even three accounts abroad, if you have set foot in the purchase of cryptocurrencies, investment in Stock market via an online broker, or if you have opened a secondary bank account with a neobank. With the opening of these services across borders, the nationality of an establishment no longer takes precedence among customers.
On the occasion of the 2022 income tax declaration, it is good to remember the importance of noting these accounts in your file. Everyone is affected, even if you have already performed the operation last year and in previous years. In the event of a breach, the French authorities say that individuals are liable to a fine of 750 euros per undeclared account, and 125 euros per omission or inaccuracy in the information about them. The amounts are doubled if the account portfolios exceed 50,000 euros.
How to declare your accounts abroad? Taxes 2022
The French tax administration prefers to be informed of the existence of these accounts directly during this declaration as the associated services do not automatically communicate with it. This is not the case with French services. In other words, if you have a Lydia account, Boursorama Banque life insurance, a Nickel account or even a Coinhouse account, you will not have to declare them.
For all others, go to your online or paper declaration. First step, get the certificate 3916aan additional form to the main document for income taxes 2022. With it, you will be asked to fill in the information related to the account, the account manager, the dates of opening or closing the account, its nature (neobank , digital asset, investment, etc) and for your use (professional or personal).
For more details about it, especially for the somewhat vague taxation of cryptocurrencies, we recommend our guide to learn how to declare your cryptos to taxes 2022.