On Apr. 22, RUS GVT announced deadline to report foreign accounts.
RUS GVT reminded of deadline to notify RUS Tax of active foreign accounts.
Key Points
The most common violation of currency legislation is failure to provide information.
The obligation to send notifications and reports by citizens on foreign accounts is provided for by law 173-FZon currency regulation and currency control.
Russian citizens who lived abroad and moved to Russia must submit notifications of all their active foreign accounts opened during their period of residence abroad.
If the period of stay of residents in the Russian Federation exceeds 183 days, they must also submit reports on the movement of funds in accounts by Jun. 1 next year.
Residents who spent over 183 days a year abroad are not required to report.
Effectiveness
The deadline to report on foreign accounts is Jun. 1, 2025.
