Russian financial market companies are required to submit to the FTS information about the financial accounts of their foreign clients for 2017-2018 no later than May 31, 2019. This is reminded by the Federal Tax Service in its information message dated 08/05/2019.
The specified information should be submitted by financial companies in the format of an electronic report on foreign customers in accordance with the OECD Standard version 5.02.
This year, Russian financial market organizations must submit information on financial accounts for both previously concluded and new contracts, that is, concluded from July 20, 2018. With respect to new contracts, more stringent requirements are applied to the analysis of the financial information of foreign customers and their identification, and the sum criteria for the value of contracts for which information on financial accounts is required is reduced.