TLDR: Natural persons, associations, and non-commercial companies domiciled or established in France must declare accounts opened, held, used, or closed abroad, including those unused since 1 January 2019. The obligation also extends to holders of a power of attorney and members of the tax household.
Persons subject to the obligation
The declaration requirement applies to natural persons, even those not required to file income tax return no. 2042, as well as to associations and non-commercial companies (e.g., civil companies, economic interest groups, foundations).
Holders of a power of attorney over a foreign account are also subject to this obligation if they use this power of attorney for themselves or for a person resident in France.
Scope of accounts to be declared
All accounts opened, held, used, or closed abroad must be declared, even if unused, since 1 January 2019. This includes accounts held by the declarant, a member of their tax household, or a person attached to that household.
The accounts concerned are those opened with any private or public entity that habitually accepts deposits of securities, titles, or funds (e.g., banking institutions, investment firms, public administrations, notaries).
Exceptions to the obligation
The obligation does not apply to accounts held abroad with financial institutions if the total annual inflows credited to these accounts, relating to sales made by their holder, do not exceed €10,000. This threshold is assessed by cumulating all inflows made on all accounts held by the same holder, intended for online payments or collections related to the sale of goods.
Declaration procedures
The declaration is made using form no. 3916-3916 bis (CERFA no. 11916), titled « Déclaration par un résident d'un compte ouvert, détenu, utilisé ou clos à l'étranger ou d'un contrat de capitalisation ou placement de même nature souscrit hors de France ». This form must be attached to income tax return no. 2042.
A separate declaration is required for each foreign account. It must include:
- the name and full address (number, street, town, country) of the entity with which the account is opened;
- the precise designation of the account (type: current, savings, long-term, etc.);
- the address of the holder(s) and, where applicable, that of the beneficiary(ies) of a power of attorney communicated to the depositary.
Operations not considered relevant
The following do not constitute operations triggering the declaration obligation:
- credit operations limited to recording on the account the interest generated by sums already deposited in previous years;
- debit operations corresponding to the payment of management fees for the account.
Special cases
Spouses in the same tax household may file a joint declaration if:
- both are holders of the same account;
- one is the holder and the other is the beneficiary of a power of attorney on that account;
- they both hold a power of attorney on the same account.
The declarant may act on behalf of a member of their tax household, a person attached to that household, or as a legal representative (guardian, curator, mandate holder, etc.).