In May 2022, Revolut made a major switch in France: exit the Lithuanian IBAN, at least for customers who want it, hello French bank details! Are you one of the customers who have operated this changeover? Bad news: you will still have to declare your Revolut account to the tax authorities, for the last time this year.
Comment by Kaedun, April 25, 2023
You forget that Revolut now has French bank details and is therefore no longer an account opened abroad.
Comment by Kevin21, May 21
Ms. while reading [cet article, publi initialement le 26 avril 2023, NDLR], it’s still unclear to me. I was planning to open a Revolut account soon, so I would have a French IBAN. Do I still have to declare?
Good morning Kaedun and thank you for your comment in our annual user manual for payment accounts based abroad. In fact, your comment was not a question, rather a remark… but this remark automatically leads to the question we are asking in the title of this article: Do I still have to declare my Revolut card as a foreign account?
Answer: yes. Verification made with the nobank, for the year 2022, all Revolut customers have had a Lithuanian IBAN at one time or another. However, in the declaration of income, the Directorate General of Public Finances (DGFiP) asks you to declare any account opened, held, used or closed abroad (…) subscribed outside France, modified or terminated in 2022.
Admittedly, in May 2022, after long months of waiting on the part of customers, Revolut announced that it had created a French subsidiary, which allows you to obtain a RIB on which your bank details do indeed begin with FR.
As a reminder, historically, Revolut customers had an IBAN in GB, for Great Britain. Brexit requires, the sign had to adapt. Hence the Lithuanian IBAN, starting with LT. A temporary solution while waiting for the French IBAN.
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But the transfer is gradual: the migration to FR IBANs is progressing well, and the FR IBAN at account opening is on the verge of being implemented, explains Revolut MoneyVox. Clearly, the old customers migrate one after the other to the French IBAN. What about new customers, those from late 2022 or early 2023? For the time being, accounts are still opened using IBAN LT, followed by a generally fairly rapid migration.
In 2023, declaration for all… In 2024 for a minority of Revolut customers
Let’s summarize. All new customers go through a Lithuanian account. And all the former customers had, either at the start of 2022 or throughout 2022, a Lithuanian account. From the tax point of view, all French taxpayers who had a Revolut account in 2022 must therefore complete the famous annex form 3916.
And, in 2024, those who will have a Lithuanian IBAN at one time or another in the course of 2023 will still have to declare it.
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What if I open an account in 2023?
Let’s come to your remark, Kevin21, posted as a comment to this same article. You are apparently preparing to open an account in 2023. Already, for your declaration to be completed in the spring of 2023, no doubt: you had no foreign account in 2022! Nothing to declare!
And next year? Unfortunately, the vagueness is not completely dispelled on the side of Revolut. Everything will depend on the information that the nobank will provide you with the opening. Currently, according to the information provided by Revolut MoneyVox, any opening is done in IBAN LT, therefore a Lithuanian RIB, before a rapid migration to the IBAN FR (which remains in any case coupled with an IBAN in LT, as specified by Revolut in an email sent on May 11 to his customers to help them declare their account).
Requested again in mid-May by MoneyVox, the French branch of Revolut wanted to be reassuring about future customers: they will probably not have a foreign account to declare next year. It won’t be necessary. (…) We will also probably make it compulsory over the next few months to switch to the FR IBAN for customers who are still in LT, which means that a priori this should soon no longer be an issue. Clearly, soon French customers will no longer go through an IBAN in LT at the opening. To be confirmed, however…
Has your account migrated to FR? How to declare it?
Ultimate subtlety, for customers who migrated in 2022: take advantage of this to declare the closure of the Lithuanian account to the tax authorities. Easy: in the appendix dedicated to foreign accounts, all you have to do is fill in the account closure date.
Screenshot – impots.gouv.fr
For you, with your IBAN in FR in 2023, annex 3916 will only be a distant memory for the 2024 declaration. Something that Revolut confirmed to MoneyVox after a final check: This would no longer be necessary [de dclarer un compte tranger] from the moment we switched to IBAN FR on January 1 of the previous year.
An information message to customers on May 11
On May 11, an information message was sent to customers explaining the procedure to follow. The nobank confirms that for this 2023 declaration, all French customers must complete the appendix dedicated to foreign accounts… Revolut reminds you in particular of its address to fill in: Revolut Bank UAB; Konstitucijos ave 21B, 08130 Vilnius, Republic of Lithuania.
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