By June 1, 2020, individuals must submit their report for the 2019 period.

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At the same time, a slight relaxation has been in effect since 2020: a cash flow report may be omitted for an account in a jurisdiction that is a member of the EAEU or that participates in automatic exchange of information with Russia, if:

— the amount of funds credited to the account does not exceed ₽600,000 per year, or

— the account balance does not exceed ₽600,000 (provided there were no credits during the year).

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Failure to submit a cash flow report for each account entails a fine of:

— from ₽2,000 to ₽3,000 for a first-time violation,

— ₽10,000 for a repeated violation.

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In accordance with the latest amendments to the currency legislation of the Russian Federation, starting from 2021 these reports will also have to be submitted for non-bank accounts (for example, brokerage accounts).

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