FAQs

Example 1: "A resident individual has a bank account opened abroad on which an obligation to declare has never existed according to article 42 bis of the General Regulation approved by RD 1065/2007. If this person cancels the account during the financial year, must he or she present an informative return for said account?

Answer: No.

Example 2: "a bank account opened abroad is identified and registered in the accounting of an organisation. If the organisation cancels the account during the financial year, must it submit an informative return for said account?"

Answer: No.

No, the company does not need to submit an informative return for the bank account when its ownership over said account ceases if it has never had an obligation to declare an informative return for said account. This exemption is extended also to authorised representatives or any other real owner of this bank account.

There is no obligation to report ownerships that are cancelled before December 31, 2012.

Example 1: A resident person/entity held an account abroad that was closed on August 1, 2012 with a balance of €100,000. Is there an obligation to report this account?

Answer: No, there is no obligation to report it since as of December 31, 2012 there is no obligation to report it.

Example 2: A resident person/entity held shares in a foreign company that was sold on December 30, 2012 for €200,000; on the same date, it acquired shares in another foreign company for €150,000. Is it required to report these values?

Answer: Since there has never been an obligation to report assets and rights located abroad due to this obligation, you will only have to report the positions as of December 31, 2012 if they determine the obligation to declare. In this case, there is no obligation to report the cancellation or sale of shares as of December 30, 2012.