Reporting foreign accounts
Who must report accounts held abroad?
All Belgian residents holding foreign accounts must report these accounts directly to the Central Point of Contact for accounts and financial contracts (CPC). They must do so before or, at the latest, when filing their personal income tax return for a given year. Any subsequent changes to these accounts must also be reported to the CPC.
This reporting obligation applies to all foreign accounts held or co-held by Belgian residents.
A foreign account opened in the name of a minor child of a Belgian resident must be reported to the CPC by both parents separately. The declaration should be made in the name of each parent, thus not in the name of the minor child.
While reporting to the CPC of a foreign account is a one-time occurrence, the existence of the foreign account must be mentioned on the individual's tax return each year.
Belgian residents holding a power of attorney for a foreign account are not required to report the account to the CPC.
Information to be reported
According to the Royal Decree of 13 April 2015, holders of foreign accounts must report the following information to the CPC:
- the resident’s first and last names and identification number in the National Register.
If the resident does not appear in the National Register, the number assigned by the Crossroads Bank for Social Security (the so-called “BIS” number) must be submitted instead.
- for each foreign account:
- the account number (IBAN, if there is one);
- the name of the foreign bank, exchange office or credit or savings institution;
- the BIC code of the institution, or its full address if it does not have a BIC code;
- the country where the account was opened;
- the year in which the account was opened;
- upon the closure of a previously reported foreign account: the account number, the name of the financial institution, the country where the account was held and the date it was closed.
You can report foreign accounts to the CPC via the web application (the easiest and fastest way!) or in writing.
For more information, please visit the How to report an account page.
Hypo 1: A taxpayer holds multiple foreign accounts
- account A, opened in 2007 and closed in 2021,
- account B, opened in 2010 and closed in 2014,
- account C, opened in 2013,
- account D, opened in 2020,
- account E, opened in 2021.
The reporting of data to the CPC in relation to:
- accounts A, B and C should have been done at the latest when filing the personal income tax (PIT) return for tax year 2015 (2014 income), on the ground that foreign accounts had to be reported for the first time in tax year 2015;
- account D should have been done at the latest when filing the PIT return for tax year 2021 (2020 income);
- account E should have been done at the latest when filing the PIT return for tax year 2022 (2021 income), together with the notification of closure of account A.
Hypo 2: A foreign account is opened in the name of a minor child who subsequently reaches the age of majority
In 2016, a foreign account was opened in the name of a minor child. The account should have been mentioned every year on the parents' personal income tax return(s). As of 2021, the child's income is no longer added to that of the parents (as the child has reached the age of majority).
Both parents should have reported the child’s account separately in their own names, at the latest when filing their personal income tax (PIT) returns for tax year 2017 (2016 income). No later than when filing their personal income tax (PIT) returns for tax year 2022 (2021 income), each parent should separately have submitted a closure/decumulation form, as the child has reached the age of majority. In box 2E of this form, they should have entered "2020", i.e. the last taxable period during which the child's income was added to that of the parents.
Hypo 3: A securities account is opened with a stockbroking firm based in another country
If a securities account is opened at, for example, the Paris branch of a German stockbroking firm, the address to be indicated is that of the firm's registered office in Germany, not that of the Paris branch. However, if the registered office address is unknown, the address of the regional office, branch or agency (where the account was opened) may be mentioned instead.
- Reporting a foreign account to the CPC (available in Dutch, French and German)
- Reporting a change to a foreign account (account closure/decumulation, rectification of data, deletion of data) (available in Dutch, French and German)
- Central Point of Contact for accounts and financial contracts | FPS Finance (belgium.be) (available in Dutch, French and German)
- Foreign accounts | FPS Finance (belgium.be) (available in Dutch and French)
Should you have any questions, please contact FPS Finance - Contact | FPS Finance (belgium.be).