Reporting on foreign accounts

June 1, 2022 is the submission deadline for cash-flow reports on foreign bank accounts for 2021.

Private individuals must submit his report if during 2021 they had an account in a non-Russian bank or any other non-Russian financial organization and if they meet all the following criteria:

• the person is Russian currency resident (i.e. Russian citizen or has a Russian residence permit)
• the person spent more than 183 days in Russia during 2021

It should be mentioned that private individuals are not obliged to submit this report if:

• the account is opened in a bank located in Eurasian Economic Union or within the country which established an automatic exchange of financial information with Russia
• the amounts of credit / debit and year-end balance do not exceed 600k Rub

In case of questions, please feel free to contact us at russia@bellerage.com