Tax households whose personal real estate assets were worth €1.3million or more on January 1 must pay France’s impôt sur la fortune immobilière (IFI) property wealth tax.
IFI declarations are made at the same time as income tax declarations, whether online or on paper. If in paper form the IFI-related document should be attached to the income tax declaration.
If you are a French resident or a non-resident who has income to declare to France, then in most cases you will make your declaration via your personal space at impots.gouv.fr as part of the online income declaration, by selecting the ‘Impôt sur la fortune immobilière’ option when choosing the sections you require.
People declaring should use a 2042-IFI form which can be found using the search box at the tax website (check first that you have the one for 2022).
If you are not subject to French income tax, you should fill in a 2042-IFI-COV form as well as the 2042-IFI.
This year, the deadline for returning paper declarations is May 19.
For online declarations coming from departments 1 to 19, non-residents and Monaco, the deadline is May 24, while for departments 20 (Corsica) to 54 it is May 31 and for departments 55 to 976 it is June 8.
The online declaration platform is already open and can be found here. You will be asked to enter your tax number or to log in through FranceConnect, which is a one-stop shop for accessing public services online.
Read more: What is FranceConnect?
It is not generally necessary to attach documentary evidence to your declaration, but your assets should be outlined in detail in the form.
How do we reflect our household assets?
The amount payable in IFI is calculated based on the circumstances of the tax household in question.
A single person living alone would count as a single tax household, as would a married or cohabiting couple. The tax authorities will take into account assets which are individually owned, as well as shared property.
When you make your declaration, you should base it on your family situation on January 1, 2022.
The person who is declaring the common property of the tax household should tick the 9GL or 9GM box on the form, and enter the tax number of their partner in the space provided.
If a couple divorced or terminated their Pacs in 2021, they should declare their personal property separately.
If you are a resident of France then you are assessed to the IFI tax on worldwide property holdings. For non-residents it mostly relates to properties and property rights in France and companies set up to own property there.
For people moving to France there is also an exemption for foreign assets until the end of the fifth calendar year starting after the year when you became fiscally resident.
In this case, declarations should still be made on the 2024-IFI form and the person should tick the 9GN box. They should also fill in a 2042-IFI-COV form.
Those who make their declaration online will be sent a notice confirming their submission.