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New deadline for submitting turnover reports on foreign bank accounts for the 2019 reporting year

DATE: June 2, 2020 | AUTHOR: Наталья Смирнова

The deadline for submitting turnover reports on foreign bank accounts for the 2019 reporting year has been extended from June 1, 2020 to December 31, 2020. Individuals who are Russian residents have an obligation to submit turnover reports on foreign bank accounts annually, starting from 2015, by June 1 of the year following the reporting year. Failure to comply with the reporting procedure entails the imposition of an administrative fine in the amount of 2,000 to 3,000 rubles.

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