Opening several LDDS, LEP or PEL was already prohibited. Since January 1, 2024, this is simply no longer possible. The anti-duplication control at opening, previously limited to Livret A, has been extended to all regulated savings products. Explanations.
3% net for the Livret A and the LDDS, 6% net for the LEP… Regulated savings accounts currently offer particularly attractive remuneration. You cannot, however, enjoy it without limits. To reduce the windfall effect, all these products display payment limits: 22,950 euros for the Livret A, 12,000 euros for the LDDS, 10,000 euros for the LEP, 1600 euros for the Livret Jeune…
Regulated savings: everything you need to know about these investments supervised by the State
Hence the temptation, for those whose savings exceed these amounts, toopen several Booklets A, several LDDS or several LEPs. Let’s remember: it’s forbidden! Failure to do so exposes you to forfeiture of interest and a fine equal to 2% of the outstanding amount of the illegal account. So much for the theory.
In fact, until now, you had little chance of getting caught. For a simple reason: you could plead forgetfulness and good faithbanks are not required, before opening a new account, to check that you do not already have one of the same category elsewhere!
More precisely, this anti-duplicate due diligence existed only for the Livret A, since 2013. Nothing planned, however, for the LDDS, the LEP, the Livret Jeune, the PEL or the CEL.
Generalized anti-duplicate checking
Nothing… until January 1, 2024! Since the recent New Year, this multi-detention control has been extended to all regulated savings products. This is the result of the entry into force of a decree dated March 12, 2021 (1).
LDDS, PEL, PEA… Soon as controlled as Booklet A
As a reminder, here is how it happens in practice.
When you request the opening, the bank reminds you that holding several regulated savings products of the same nature is prohibited. She also informs you that she will question the tax administration to ensure that you do not already hold a product of the same category in another bank. You cannot object to this control. You can, however, refuse that the tax administration communicates to the bank information concerning the account(s) already opened: its number, the bank which holds it, etc.
The bank then carries out the check. The tax administration responds within a maximum period of 2 working days. If the answer is negative (you do not have a product of the same category), the account is opened immediately. If it is positive and you do not wish to give up on openness, several possibilities are open to you.
You can first take care of the closing of the existing account. As soon as the closure is effective (within a maximum period of two weeks), the new account is opened, provided that you produce a closure certificate within 3 months. If you have accepted that the tax authorities communicate the contact details of the previous account, the bank can also take care of the closing and transfer of funds itself. Attention! If the balance of the old account exceeds the payment limit of the product in question, due to interest capitalized over the years, the surplus must be paid into another product.
A special case for the PEL and the CEL
In the specific case of the PEL and the CEL, another event, in addition to an opening request, can trigger the control, since the publication of a decree (2) At Official newspaper last November: a request for payment of the housing savings premiumfrom which PEL and CEL holders opened before December 31, 2017 can benefit. In this case, the single-holding control is carried out directly by the State, or by the service provider responsible for managing the housing savings premium.
(1) Decree no. 2021-277 of March 12, 2021 relating to the control of the holding of regulated savings products. (2) Decree n2023-1031 of November 8, 2023 relating to the terms and conditions for controlling the sole ownership of a home savings plan or a home savings account by means of the processing of personal data