audio

But who dare ask the question?
Mrs A just told me that we had to declare foreign accounts in 2002.
I’m sure we did.

sdale100

Dunno where I'm gonna find 18000 euros then. This has gotta be a joke, surely.

Anyone with a crystal ball with tonight's Euromillion numbers can PM me

frugeois

I am new on this forum. I have read the previous three pages of this thread. I can't see what the problem is. all you have to do is declare a bank account you have outside of France. this is done by completing Form No 3916 when you declare your revenue. The form is quite simple -Just provide details such as branch; account numbers IBAN numbers will do and when the account was opened and where appropriate closed. Worry about fines when and if you receive a demand.

audio

………..but there is no problem for us. We are mostly just wondering for others outside of this forum what would be their best excuses, what legal loopholes may exist and where they can hide before they are fined.

Welcome to the forum by the way.

frugeois

Thanks for the welcome. I would not try to advise anyone to try and mess with the French Authorities. the CRS are more likely to deport you first and worry about your rights later ! ! ! !

InVinoVeritas

I think you have always had to declare such accounts if you are liable to ISF (introduced in 1989) or if the accounts ever produced any interest/income.

As to how far the fisc can now make you go back in order to rectify your tax returns it is 2006 for impot sur le revenu and 2007 for ISF.

InVinoVeritas

This is, of course, a starting point but I think it would unravel fairly quickly. I expect that the fisc would ask for copy bank statements for the tax year so they will easily see if the account was already open at the bginning of the tax year and the balance on the account. They can call for supporting documentation for a tax return at any time.

InVinoVeritas

Well the answer is nobody knows. Whereas this issue has been been headlines for several years in the French press there are many expats who still are not aware of it. Consequently a French person would be hard pushed to explain a non-declaration except in the case of an inherited account which has never been accessed.

It's difficult to imagine a foreigner getting special treatment if it is clear he knows he has an account but was unaware it should have been declared.

Bearing in mind that the automatic disclosure by financial institutions will be starting in 2017 the options seem to be limited to the following:-

1. Spend the money (or give it away) and close the account
2. Change the address on the account to a country which is less draconian
3. Leave France

Option 1 may present a problem if they discover the existence of the account some other way (contested divorce, disinherited children etc etc) and you no longer have the funds to pay the fine.

Option 2 would require proof of a change of address which satisfies the financial institution concerned (not always very easy).

Option 3 not only means leaving France but finding somewhere else you and your family would be happy.

If you decide to pursue any of these solutions then it would be prudent to do so before the end of 2015.

PS I should add that anyone deciding to leave France would be foolish to leave any assets in France.

south_bound

Not sure about your option 2 - registering the account at a UK address doesn't make it alright not to declare it, juts less likely that the authorities will find out.

InVinoVeritas

I wasn't suggesting the UK as an option. There are plenty of other countries which would be much better choices but banks are a little reluctant to just accept any address without some supporting documentation.

I haven't lived in the UK for many years and am not very up-to-date on UK tax legislation but I suppose there is a similar clampdown on undeclared offshore accounts? If that is the case then I guess anyone still tax-resident in the UK but living in France (and I know many) may have a similar problem in respect of their French bank accounts come 2017.