Foreign Accounts in France: Do Expats Have to Declare Them? (Form 3916)
Do you hold a securities account with an institution based outside France? If so, there's a specific declaration you may be legally required to file, even if you didn't sell anything, make a withdrawal or earn a single euro during the year. It's an easy obligation to overlook, and the penalties for missing it are steep.
The rule applies to people who are tax resident in France and hold an account with a foreign bank, broker or financial institution. It also reaches further than most expect: joint accounts, accounts held in undivided ownership, and even accounts you simply hold a power of attorney over all count.
Where do you declare the account?
When you file your income tax return online, the process runs through a few steps. You go to the "Déclarations annexes" section, tick box 8UU "Comptes ouverts, détenus, utilisés ou clos à l'étranger" and then complete form no. 3916-3916 bis, filling in one declaration for each foreign account you hold.
One thing worth being clear about: box 8UU is there to declare the existence of the account itself. It is not where you report the dividends, interest or capital gains the account generated — that's a separate matter, covered further down.
What information do you need to provide?
For each securities account, it helps to gather everything in advance. You'll generally need the name of the bank or broker, its full address and country, the account name, and the account number or reference. You'll also state the nature of the account (ordinary securities account, investment account, and so on), its use (private, professional or mixed), and its type (individual, joint or collective). Finally, you provide the opening date, the closing date if the account was shut during the year, the identity and address of the holder, and details of any co-holders or authorised representatives.
These requirements come from the rules applying Article 1649 A of the French General Tax Code, which sets out the obligation to declare accounts opened, held, used or closed abroad.
Declaring the account isn't always the whole story
This is where people often slip up. Declaring the securities account is one obligation; declaring the income it produces is another, and they're independent of each other.
Any dividends, interest and capital gains you received still have to be reported according to their nature and tax treatment. So keep the annual statements your foreign bank or broker sends you you'll need them.
What's the deadline?
The securities account declaration is filed at the same time as your annual income tax return. In other words, the deadline matches that of form no. 2042, and it varies depending on how you file and which département you live in. If you file online, the applicable deadline is shown directly in your personal tax space.
Don't wait until the account is closed to declare it. An account held at any point during the year has to be declared for that year, even if you never touched it.
What are the penalties for forgetting?
Missing the declaration can cost you €1,500 per undeclared account. That figure rises to €10,000 per account when the account sits in a country or territory that hasn't signed an administrative assistance agreement with France giving access to banking information.
There's more at stake than the fine itself. The tax authorities can also ask you to explain where the money came from. In certain cases, sums moved into or out of an undeclared account can be presumed to be taxable income unless you can prove otherwise, under the third paragraph of Article 1649 A.
A useful final check
Before you validate your return, it's worth running through a short mental checklist: confirm the IBANs and addresses of the institutions, don't overlook accounts opened through foreign brokers, and make sure you've captured any accounts closed during the year as well as joint accounts or those you hold under a power of attorney. And pull together your statements of dividends, interest and capital gains while you're at it.
The short version: a foreign securities account generally has to be declared through box 8UU and form no. 3916-3916 bis once per account, for every year it concerns.
Living in France and unsure about your tax obligations?
If you are an expatriate living in France and have questions about your French tax return, foreign income or the interaction between French taxation and your home country's tax system, you can book a free introductory call to discuss your situation and identify the key points that should be checked.
Disclaimer: This article is for general information and educational purposes only. It is based primarily on official French government sources and other trusted references. It does not constitute personalised tax, legal or financial advice. Tax filing obligations depend on individual circumstances, the country concerned and the applicable tax treaty.
