New forms on foreign accounts for notifications to the Federal Tax Service

From 1 July 2024, the form of the report on the movement of money and other financial resources on foreign accounts, which are prepared and submitted by legal entities, will be updated.

This decision is contained in the Government Resolution No. 633 dated 22.05.2024. Russian legal entities are required to report on the movement of funds and other assets through foreign accounts and transfers of money without opening an account using foreign e-wallets.

The reporting form has now been updated and rules for filing by legal entities that are part of international organisations with foreign persons have been established. These rules were last amended in 2023.

The new forms contain:

– notifications on opening (closing) an account in a foreign bank;

– notifications of changes in account details in a foreign bank;

– notifications of the existence of an account in a foreign bank opened in accordance with an authorisation that has expired.