Reporting on foreign accounts and e-wallets
Every year, by June 1, individuals who are residents of the Russian Federation, must report to the tax authorities on the movement of funds and other financial assets, on an account (deposit) opened abroad and on transfers of funds without opening an account.
In 2025, the deadline for submission of such report is postponed to June 2, as the 1st of June is Sunday. The report may be submitted via electronic documents exchange system or through the taxpayer’s personal cabinet on the website of the Federal Tax Service, as well as submitted in hard copy in person or sent by registered mail with return receipt.
There are a number of cases in which the submission of a report for 2024 is not required:
- the period of stay of an individual abroad in 2024 in total is more than 183 days;
- a foreign bank account is opened in a bank located in the territory of the EAEU or in a country with which automatic exchange of financial information is carried out. In this case the total amount of credits and debits on the account or the balance of funds at the end of the reporting year should not exceed 600 thousand rubles (equivalent amount in foreign currency).
The report should be submitted on the basis of the “List of states (territories) with which there is an automatic exchange of financial information” as of 31.12.2024,approved by Order of the Federal Tax Service of Russia dated 30.10.2024 N ED-7-17/916@.
Administrative liability in the form of a fine is provided for failure to submit or violation of the procedure for submitting a report.
