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Procedure of filing reports on transactions through foreign bank accounts by individuals has not been established yet.
DATE: December 10, 2014 | AUTHOR: atlawyers
Procedure of filing reports on transactions through foreign bank accounts by individuals has not been established yet. In accordance with Federal Law as of 21 July 2014 N 218-FZ the RF individuals who are treated as residents under currency laws will be obliged to send reports to the tax authorities on their accounts (deposits) in foreign banks starting from 01.01.2015. Now only legal persons have such obligation. Although this requirement shall be effective in less than one month, neither procedure of filing documents, nor liability for failure to perform this obligation has been established yet.