Notifying the Russian tax service of a foreign account: deadline, form and fines in 2026

In brief

• Currency residents must notify: Russian citizens and foreigners with a Russian residence permit.
• The deadline is no later than one month from opening, closing or a change of account details.
• Form KND 1120107 is approved by Federal Tax Service Order No. SD-7-14/349@ of 26 April 2024.
• You can file through the online account, in person, by registered post or through a representative.
• The fine for filing late is RUB 1,000-1,500, for not filing RUB 4,000-5,000.
• Anyone who spent more than 183 days abroad in a year is exempt.

Who must notify

In short: all Russian citizens and foreigners with a Russian residence permit, except those who spent more than 183 days abroad in the year and holders of accounts in foreign branches of Russian banks.

The obligation is set by Article 12(2) of Currency Regulation Law No. 173-FZ. It applies to currency residents: all Russian citizens, and foreigners and stateless persons permanently residing in Russia on a residence permit. Sole traders and companies notify under the same rules.

No notification is needed in two cases:

• the account is opened in a foreign branch of a Russian authorised bank;
• you spent more than 183 days outside Russia in the calendar year. If in the following year you spent 183 days or fewer abroad, notifications are filed by 1 June of the next year.

What this means for you. If you live in Russia and have opened an account abroad, a notification is almost certainly required. The 183-day exemption counts actual days abroad in the calendar year.

What to prepare

In short: the opening date, the bank name and country, the SWIFT code, the account number and access to the online account.

• The bank contract or the account opening letter with the date.
• The full bank name in Latin script and the country.
• The SWIFT or other bank code.
• The account number or IBAN.
• Access to the taxpayer's online account, or a qualified electronic signature if filing via operators.

Example: a UAE account from opening to report

In short: one account produces four dates a year, and each is easy to miss.

Take an example. An entrepreneur lives in Moscow, flies to Dubai in September 2026 and opens a current account with a local bank to receive payments from foreign clients. The bank sends an opening letter dated 15 September. From that moment there is a month, and here is what follows in the calendar.

The most common trap in this story is the trip itself. The account is opened while travelling, the person returns, spends a week catching up, then another, and remembers the notice when the month has passed. That is why we set a reminder on the day the account opens, not "later".

What this means for you. Put four dates in the calendar at once: a month after opening, 30 April, 1 June and 15 July. Then the account brings no fines at all.

Step by step

In short: five steps, 15-20 minutes, a deadline of one month from opening.

What this means for you. The whole route takes 15-20 minutes if the details are at hand. Do not wait for the last day: if the online account is down, you still have time to file on paper.

Sample

In short: every field comes from the bank contract; nothing has to be invented.

Below are the form fields and a sample for a current account with a UAE bank. The data is illustrative; use your own from the bank documents.

Where and how to file

In short: the taxpayer's online account is easiest, but you can file in person, by post, via an operator or through a representative.

• Taxpayer's online account. The fastest way; the signature is issued within the account.
• In person at the tax office at your place of residence or, without registration, at your place of stay or where your property is.
• By registered post with a delivery notice. The filing date is the date of posting.
• Via electronic operators with a qualified electronic signature.
• Through a representative with a notarised power of attorney.

Fines

In short: late is cheaper than never. If you missed the deadline, file at once.

The fine for not filing, RUB 4,000-5,000, is higher than for filing late. So if the deadline has passed, file at once: being late costs less. The fine applies to each account separately.

What this means for you. The amounts are small, but a currency law breach goes into databases and can surface during bank checks and other reviews. Filing on time is simpler.

If the deadline has already passed

In short: file the notice at once. Late filing costs RUB 1,000-1,500; not filing costs RUB 4,000-5,000 per account.

Many learn about the obligation a year or two after opening the account, for example when a Russian bank asks about foreign accounts or when filing a first tax return. The logic is simple: the fine for lateness is several times smaller than for not filing. So hiding the account further does not pay; filing the notice the same day does.

The limitation period for currency law breaches is two years. But it is not a strategy: the cash flow report is filed every year, and each miss is a new breach.

With several accounts, a notice is filed for each. The fine is also counted per account.

What this means for you. Being late can be fixed cheaply. What costs a lot is silence that lasts for years.

Cash flow report

In short: every year by 1 June, unless the RUB 600,000 exemption applies.

The notification is not the only obligation. Every year by 1 June a resident files a report on the cash flow through a foreign account for the previous year. No report is needed if the account is in an EAEU country or a country exchanging financial information with Russia and, for the year, no more than RUB 600,000 equivalent was credited or the year-end balance did not exceed that amount. The list of exchange countries is set by the tax service and is checked as of the report date.

Most people who come to us did not forget the notification; they filed it and forgot the 1 June report. I put two dates in clients' calendars: a month after opening the account, and 1 June every year. That is enough to avoid fines altogether.

Dmitry NagyInternational Tax Planning Consultant, BRIDGES

Brokerage accounts and e-wallets

In short: a foreign brokerage account is also an account with a financial market organisation and is notified under the same rules.

The law covers not only banks but other financial market organisations: brokers, asset managers, investment platforms. If you open an account with a foreign broker, the notice is due within the same month, and the flows on it appear in the annual report together with financial assets.

Transfers through e-wallets of foreign payment services without opening an account are also included in the annual report. If you use such a wallet for work, keep the year's statements: they will be needed for the report.

What this means for you. List every place abroad where your money or securities are held. Each is a separate line in the notices and in the report.

Closing and changed details

In short: closing or changed details mean another notice within a month.

If you close the account or the bank changes its details, file another notification on the same form, again within a month. The cash flow report for the year in which the account was closed is also filed.

Where people go wrong most often

In short: five mistakes behind most fines.

1. Counting from the first payment instead of the opening date. The month runs from the date in the contract or bank letter.
2. Forgetting the brokerage account. It is also an account with a financial market organisation.
3. Notifying but skipping the 1 June report. It is a separate duty with a separate fine.
4. Counting the 183 days wrongly. The exemption applies per calendar year, not the last 12 months.
5. Not notifying about closing the account. Closing is an event like opening, with the same deadline.

Checklist

In short: seven points to check before pressing "Send".

How this material was prepared

Prepared by Dmitry Nagy, International Tax Planning Consultant at BRIDGES. Rules were checked against Law No. 173-FZ, Federal Tax Service Order No. SD-7-14/349@ of 26.04.2024, tax service guidance on nalog.gov.ru, the Tax Code and the Code of Administrative Offences on 11 October 2026.

• Obligation, deadline and exemptions - Federal Law No. 173-FZ on Currency Regulation and Currency Control, Article 12.
• Form and filing methods - Federal Tax Service Order of 26.04.2024 No. SD-7-14/349@; guidance on nalog.gov.ru.
• Fines - Code of Administrative Offences, Article 15.25, parts 2, 2.1, 6-6.5.
• Client procedure - our practice.
• All facts checked on 10 October 2026.

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