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Tax alert: French residents’ foreign accounts

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French Tax Online

French Tax Online

Күн бұрын

Пікірлер: 21
@dkswalker
@dkswalker 3 ай бұрын
Hello, I have a quick question regarding the opening date of the crypto accounts. What should be done if the accounts have been held for several years but have never been declared before? Will there be any issues if I declare them now ?
@frenchtaxonline
@frenchtaxonline 3 ай бұрын
Hello, it is better late than never ! You absolutely must declare them with this tax return. If you want to secure your situation you may contact your tax office directly using the "messagerie" service on your impots.gouv account and explain them the situation and ask them what they'd like you to do. That way you won't be able to be fined as you are of good faith and declared this fact before the tax office does !
@SahaPaul
@SahaPaul 2 ай бұрын
Hello, Thanks for this very informative video! I have a question regarding the money held in those foreign accounts, do I need to declare the amount as well? I am Indian and currently a tax resident in France, and my foreign accounts are accounts like WISE and my own Indian NRE/NRO accounts. Do I need to declare the money that I sent to my Indian accounts via WISE in my French tax declaration? Is there a upper limit to such transfers, above which it has to be declared to some authorities (tax or other)? Thanks a lot in advance.
@frenchtaxonline
@frenchtaxonline 2 ай бұрын
Hello, you won't need to declare the amounts held on your accounts but simply the accounts themselves !
@wowtunez
@wowtunez 3 ай бұрын
Hello! This video is really informative and helpful, thank you for sharing. I have a question regarding my accounts in India. I have three accounts: one joint account with my mother opened in 2012, and two individual accounts opened in 2019. If I declare them now, will I face penalties? I'm quite worried about this and would appreciate any help or advice you can offer. Thank you!
@frenchtaxonline
@frenchtaxonline 3 ай бұрын
Hello! You won't face penalties if you declare them before the tax office contact you - you better hurry up !
@wowtunez
@wowtunez 3 ай бұрын
​@@frenchtaxonline Thank you for your quick reply. I saw a popup message "You declared an overseas bank account online last year, or the administration became aware of such an account through international information exchanges. Note: Accounts like PayPal and Transferwise are considered foreign accounts by the administration. For some of these accounts, annex declaration no. 3916-3916 bis is not mandatory. If this applies to you, uncheck the corresponding box." on my tax form about declaring foreign accounts. I'm now declaring these accounts, but I haven't received any notification by mail or been contacted directly. Should I be worried?
@frenchtaxonline
@frenchtaxonline 3 ай бұрын
@@wowtunez no this is normal - declare these accounts for this year and if you want to be 100% sure about the past you may ask your tax office directly using the messagerie service whether they would like you to submit forms 3916 for the previous years. By doing this your good faith won't be a problem and they would not charge you fines !
@wowtunez
@wowtunez 3 ай бұрын
​@@frenchtaxonline Thanks for your replies. I noticed that the checkbox of 3916 is checked by default with a message in French "Vous avez déclaré en ligne l'année dernière un compte bancaire à l'étranger ou l'administration a eu connaissance de la détention d'un tel compte dans le cadre des échanges d'informations entre pays. Précision: les comptes de type Paypal et Transferwise sont déclarés auprès de l'administration comme étant détenus à l'étranger. Pour certains de ces comptes, la déclaration annexe nº 3916-3916 bis n'est pas obligatoire. Si tel est votre cas, décochez la case correspondante. OK". Is this normal? This is my first time going through all the steps in detail. In previous years, whenever I opened the declaration form, it would jump directly to the signature page, and I would simply click and finish the declaration. This time, it asked me to go through the process from the beginning, which is how I discovered the requirement about 3916.
@wowtunez
@wowtunez 3 ай бұрын
@@frenchtaxonline I noticed that the checkbox of 3916 is checked by default along with a popup message . Is this normal? This is my first time going through all the steps in detail. In previous years, whenever I opened the declaration form, it would jump directly to the signature page, and I would simply click and finish the declaration. This time, it asked me to go through the process from the beginning, which is how I discovered the requirement about 3916.
@bhoogolam6807
@bhoogolam6807 3 ай бұрын
Are fines applicable for accounts that were not declared before, even if one declares their foreign accounts voluntarily later on, or only if the tax authorities become aware of them beforehand? Thank you very much.
@frenchtaxonline
@frenchtaxonline 3 ай бұрын
Hello! Yes indeed fines are possible for foreign accounts not declared in the past unless you declare them to the tax office before they contact you! Let us know if you need help.
@dr.michaellittle5611
@dr.michaellittle5611 5 ай бұрын
In America, citizens have tax-deferred (401k) retirement accounts that are not bank accounts per se. But they hold the financial resources that are withdrawn and taxed during retirement. Does this type of account need to also be declared, or only the taxable withdrawals when they are taken?
@frenchtaxonline
@frenchtaxonline 4 ай бұрын
Good morning, yes indeed you'll have to declare it on your french tax return on annex 3916! You'll just need declare the account itself and not the money on it. US pensions remain taxable in the US even if you live in France!
@dr.michaellittle5611
@dr.michaellittle5611 4 ай бұрын
@@frenchtaxonline Merci monsieur!
@frenchtaxonline
@frenchtaxonline 4 ай бұрын
@@dr.michaellittle5611 mais de rien !
@learnersojourner
@learnersojourner 4 ай бұрын
Bonjour! Thanks for the informative video. I moved to France in December 2023. Am I required to file French taxes this year, having only lived there a few weeks of the tax year?
@frenchtaxonline
@frenchtaxonline 4 ай бұрын
@@learnersojourner Yes indeed - you are supposed to submit a french tax return as soon as you become a french tax resident and you'll have to declare in france your worldwide income from the day you arrived until the 31st of december! As I said, declaring does not mean paying thanks to tax treaties... :)
@iedayell7273
@iedayell7273 3 ай бұрын
I am waiting for a response from French Tax online. I have paid for them to submit a SIRET request but now they say that “the French authorities website is facing problems “. I am really concerned
@frenchtaxonline
@frenchtaxonline 3 ай бұрын
Good morning Ieda, we answered you yesterday about this : the official website is indeed facing issues and we are doing our very best to fix this with them but this might take a few days given the fact that there are plenty of bank holiday in May. Rest assured that we'll find a solution and submit your return.
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