Revolut, N26: Neobank accounts must be declared to France

When making their French tax declaration, residents in France need to check where the banks are located to see if they count as foreign accounts

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French-resident holders of accounts with online-only ‘neobanks' such as Revolut should remember to declare the existence of these to the French tax service if the bank is based outside France.

This is notably the case for Revolut, which is located in the UK but holds its EU customers' accounts in Lithuania, or for N26, located in Germany. Another neobank, Monese, is UK-based but holds its French customers' accounts in France, so these do not need to be declared.

These accounts are often simple to open and you may not have paid attention to where the banks are domiciled – so do check if in doubt as to whether any you hold are French.

The existence of all overseas accounts, and not just income from them, must be declared to the French authorities as part of the income declaration, if you are a resident of France.

This is done on form 3916 or the equivalent online section on the internet declaration entitled Déclaration par un résident d’un compte ouvert hors de France.

If declaring online then you need to select this section when asked to choose which déclarations annexes (ancillary sections) you require.

This year there are a few changes to this section and you will notably be asked to re-enter all of your overseas bank accounts, whereas usually this information is carried over from year to year if declaring online.

If required you can find the information you declared in previous years by finding previous versions of the overseas accounts declaration in your documents in your personal online space.

For more about declaring income to France this year, see our help guide French Income Tax 2021.

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