The report is filed separately for each foreign account or deposit — with the tax authority at the place of registration of the organisation or entrepreneur. It is accompanied by copies of bank documents confirming balances at the beginning and end of the period, credits, debits and other transactions for the quarter.
Documents in a foreign language require a notarised translation into Russian. For companies working with banks in China, the UAE, India and other BRICS countries, this means ordering translations of statements in advance — notaries are busy, and leaving it to the last days is risky.
An exemption from reporting applies only to individuals without entrepreneur status: if the account is opened in an EAEU member state or in a country with automatic exchange of financial information, and the annual turnover on the account does not exceed 600,000 roubles or the equivalent in foreign currency. There is no separate turnover exemption for legal entities and entrepreneurs — they report in the general manner regardless of the amount of transactions.
Fines for violations are fixed. Officials and entrepreneurs face 4,000 to 5,000 roubles, legal entities 40,000 to 50,000 roubles. For late filing, the penalty depends on the length of the delay.
Before the deadline, accounting departments need to reconcile the full list of foreign accounts and deposits, collect bank statements, and check balances and turnover for July–September. If some transactions went through accounts in several jurisdictions — typical for importers using transit settlements through third countries — each account requires a separate set of documents.
After filing the Q3 report, it is worth checking in advance which currency transactions via foreign accounts are allowed without restrictions in Q4 and which require additional permits. This is especially relevant for companies planning large transfers before the end of the year.
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