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Thread: New requirement for Russian residents to file yearly reports on foreign bank accounts

  1. #31
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    Hi BigBear,
    Form you posted looks similar. But I am sure you have to file form that I posted (I showed only 2nd page of the notification). Then you have to send the report about transactions on that account(s) (I also included only 2nd page). This isan annual report. Do not miss the time. Let me know when you get your PRP.
    Here is link from tax office for that form https://www.nalog.ru/rn77/fl/interest/account_opening/
    You can download it from there.
    Here another form you can download. It is the report about transactions on your foreign account(s) http://www.consultant.ru/document/co...90cd2b4ef4b12/

    Do not forget to file FBAR report to US Treasury if you had $10K at any point of time in 2018 on you Russian account(s). How do you file your Tax Return? I am trying to figure out the best software for that.

  2. #32
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    Quote Originally Posted by seaworld View Post
    Do not forget to file FBAR report to US Treasury if you had $10K at any point of time in 2018 on you Russian account(s). How do you file your Tax Return? I am trying to figure out the best software for that.
    Thanks Seaworld.
    I’m not a US citizen, so I “only” have to worry about filing my tax returns for Belgium and Luxembourg and both countries have an online filing system, so no worries. Belgium has also required its citizens to report all foreign bank accounts for a few years now, also possible online through the National Bank.

  3. #33
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    Quote Originally Posted by BigBear View Post
    Thanks Seaworld.
    I’m not a US citizen, so I “only” have to worry about filing my tax returns for Belgium and Luxembourg and both countries have an online filing system, so no worries. Belgium has also required its citizens to report all foreign bank accounts for a few years now, also possible online through the National Bank.
    I thought you are an American. OK. Strange that you have to file taxes to your countries. I was sure that only USA and Eritrea require this craziness.

  4. #34
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    Quote Originally Posted by seaworld View Post
    I thought you are an American. OK. Strange that you have to file taxes to your countries. I was sure that only USA and Eritrea require this craziness.
    The difference is that it has nothing to do with citizenship, only earnings -- my pensions come from there so they want to check I'm not getting too much.

  5. #35
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    Quote Originally Posted by BigBear View Post
    The difference is that it has nothing to do with citizenship, only earnings -- my pensions come from there so they want to check I'm not getting too much.
    Interesting. Do you file regular tax return or something else? Do you pay taxes from your retirement there? Americans pay if they earn more than $12K per year. Do you know that technically you are subject of income tax in Russia? Tax Kodeks has st.208, p.3,, pp.7 about retirement payments from foreign sources. I do not know how Russian tax authorities can find out about your retirement earnings but it is a taxable income.

  6. #36
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    Quote Originally Posted by seaworld View Post
    Interesting. Do you file regular tax return or something else? Do you pay taxes from your retirement there? Americans pay if they earn more than $12K per year. Do you know that technically you are subject of income tax in Russia? Tax Kodeks has st.208, p.3,, pp.7 about retirement payments from foreign sources. I do not know how Russian tax authorities can find out about your retirement earnings but it is a taxable income.
    I actually have three pensions, from the UK, from Belgium and from Luxembourg. I only have to pay tax on one of them -- that from Luxembourg -- whilst the other two are tax exempt. That doesn't exempt me from having to fill in a tax return in Belgium and Luxembourg (I'm not sure about the UK, their tax year ends later and this would be the first year I would have to fill in a tax return for them, if they send me one). These are, indeed, the regular tax returns that I had to fill in when I was working. Just to clarify why I had to fill in two: I lived in Belgium but worked in Luxembourg, so had to fill in one for each country,.

    Since I am no longer resident in the EU, each country only taxes me on the income earned in that country, so it's not too bad as my Belgian pension is exempt and though the Luxembourg one isn't, Luxembourg has very low tax rates anyway. Tax is deducted at source.

    I'm not liable to pay taxes on these pensions in Russia since all three countries have double-taxation treaties in place with Russia meaning that tax is only liable in the country of origin of the income. The Federal Tax Service has confirmed this to me (in the same letter regarding the bank accounts). I'm not sure if there is information sharing between the EU countries and Russia, it is possible, and since I am considered as tax-resident in Russia (by the Europeans) if it exists they would inform the Russian Tax authorities.

  7. #37
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    BigBear, you are prepared to any questions, aren't you? That is good that tax office gave you that answer. Keep it. I know many cases when they took their words back. But at least you have something in writing. Usually double taxation treaties works kind of crooked in Russia. They want you to prove that you actually paid taxes in another country(ies). An original receipt with blue stamp on can be the only prove of the payment. Ha-ha. Nobody except Russians knows what the blue stamp is. I would get some receipts for your tax payments anyway just in case this rax people will request them. But chances are they will never find out that you receive any money from foreign sources.
    Last edited by seaworld; 22-05-2019 at 23:04.

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