Declaring Revolut on French Tax Return

A timely reminder arrived in my mailbox today about the need to declare bank accounts (outside of France) on the annual tax round for 2022.
I will of course be doing this (this year for the 2022 tax round) as I have done in previous years since my account was not transferred to the FR IBAN until June 2022 which of course means that, during 2022, the account was outside of France with an LT IBAN and in use.
This raises two unanswered questions now in my mind:

  • is it safe to assume that the FR IBAN from June 2022 will mean that the account will not need to be declared in the 2024 (for 2023 income) tax round?

  • Does the presence of a USD or GBP wallet change matters in any way - since the base EUR account caries an FR IBAN so the account is ostensibly a French one?

I’d be grateful for a view from anyone affected by this requirement who has a reliable reference to call on that clarifies the position - perhaps even from the centre @Mariana_Rodrigues

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Hello @Graham_Lees :wave:,

Thank you for sharing your concern with us. :smiling_face:

Honestly, it depends on the country of the user. Unfortunately, Revolut will not be able to help here in the Tax Return, as different countries have different legislations.:r:

For details, you can check here & here. The best way to be sure is to contact the local Tax Office and understand how they perceive Revolut account in France.:blush:

SG | Community Team

Have you decided how to handle this one @Graham_Lees ?

I’m French resident and opened my Revolut account a few weeks back - in euros, sterling and $NZ. All ‘accounts’ have a French IBAN number so I’m presuming I don’t need to declare them (on next year’s return) - the sterling account also has a sort code and account number, for “domestic transfers” so I don’t know if this makes it a UK based account that I should declare. Thoughts?

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My own view (for what it’s worth) is that, as you opened the account in 2023 it has no place in the 2023 return for 2022 income (the current declaration round).
My account was previously an LT IBAN as a French resident but this was changed in June 2022 to an FR IBAN and is thus declarable on the 3916 for the 2022 (2023 tax round currently in view) but I am of the mind that I should now declare the account closed to the Fisc at that date as in 2023, I will only be using the FR IBAN. I have a GBP wallet but that is clearly tied to the French account and is not stand alone. I do also have a UK bank account which I have declared on the 3916 and will continue to do so. The Fisc are at liberty to investigate the :r: FR account at any time as they see fit under existing arrangements which will include transactions against that account in the currency wallets so I remain convinced that I will be complying with the legal requirements without a need to declare the wallets separately.
If I’m challenged on that view, I remain convinced that the Fisc will see that I have taken appropriate steps and not impose the penalty (but may then ask me to declare it anyway).
Problem: If I asked the local Fisc their view, they are likely just to say to declare it to get me off their back (as they probably don’t know either). Worse: each local Fisc will possibly have their own view (as they already do with the exchange rates to use when payments are received in other than EUR).
I hope that helps.

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I get that, yes. I was asking for next year - I like to be prepared!

So, to be clear, you’ve not declared (or are not going to declare) your sterling wallet as if it were a seperate account? (Btw, I agree with your interpretation - that you’ve taken the appropriate steps and are complying with the regs)

I’m a belt-and-braces kind of person (too?), and used to declare each Wise wallet (when I had them) separately just to avoid running foul of the Fisc. I want to be legit but, as you say, each dept can seemingly operate differently - so I tend to go into overkill mode just to be sure!

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Hi!
I got notification about declaration too. But I don’t know if I can , cause I am an international student. And I do not have a tax number. Do you know what can I do? And I am outside france, for the semester now.

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That’s correct. It would be a different matter (IMO) if my :r: account was held in the UK but it is not. As I see it, the 3916 is to declare accounts which are exclusively held outside of France but th account now is not. That means that the BdF enjoy control over the account and there is no need for them to do other than examine the account directly without having to make application to or reference another jurisdiction.
You are right to declare the Wise accounts though. They are clearly outside of France.

Hi @Zhan and welcome to the community.
You may find these two references helpful:

Bonne chance!

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Welcome to our community @rastadog @Zhan. :people_hugging:

Thanks for helping them out @Graham_Lees. :star:

SG | Community Team

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thank you for the links!!! But I am a student and I do not pay taxes yet. Do I still have to declare revolut ?

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whether or not you pay any tax is immaterial - as a French resident, you are duty bound to declare your worldwide income and accounts outside of France.
[This reference] has further information.

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Welcome to our community @Zhan @rastadog. Hope your confusion gets cleared. :r:

Thanks for the help @Graham_Lees. :star:

SG | Community Team

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hi all,
I opened my Revolut account a while ago as resident in France but now live in vietnam as a resident. is this a problem? and should i still provide a French TIN to Revolut? i dont really get it… thanks

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Hi @ben126 and welcome to the :r: community
As far as I know, much will depend on where you are now fiscally resident as to whether you still have an obligation to report your income to the French Fisc.
If you do, then reporting bank accounts outside of France is a requirement. If the account was opened some time ago it was probably an LT (Lithuania) IBAN. Have you notified the French Fisc that you are no longer resident in France and are Revolut aware that you are now no longer resident in France and living in a new jurisdiction? Revolut will no doubt ask you to provide confirmation of your TIN for where you are now resident.

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Thanks for the help @Graham_Lees. :star:

Welcome to our community @ben126. Hope your concern was clarified. :blush:

SG | Community Team

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