You will have to report not only about money in accounts in foreign banks

December 22. FINMARKET.RU – The Tax Service has supplemented the currency control requirements with the obligation of taxpayers to provide information on the movement of financial assets. According to the Federal Tax Service, from January 1, 2021, when submitting reports on foreign accounts with banks and other financial market organizations, residents are required to indicate not only information on cash flows. It is noteworthy, “Vedomosti” writes, that the list of financial assets, the report on which must be submitted, is made open. The new reporting form mentions securities, derivative financial instruments, shares in the authorized capital of a legal entity, shares in a foreign structure without forming a legal entity, claims from an insurance contract, as well as “other financial assets”. What is meant is not clear.

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