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+351 289 009 537
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geral@urbls.com
·
Seg - Sex 09:00-17:00 Mon - Fri 09:00 am - 05:00 pm
Marcar Consulta Online

Did You Know You Must Report Foreign Accounts on Your Portuguese Tax Return, Even If They Were Never Used?


1–2 minutes

Many people assume they only need to report income.
Wrong.
The law requires the disclosure of foreign financial accounts.
Even if they were not used or generated no income.

What is at stake?

You must report: 🔹 Foreign bank accounts
🔹 Securities accounts held abroad
You generally do not report: 🔹 Wallets
🔹 Non-banking platforms
🔹 Certain brokers without a banking license

The key issue

Not all platforms are the same.
Revolut, N26, Openbank → usually included.
Degiro, Trading 212, Coinbase → depends on the entity type.
Assuming everything is included, or nothing is, is a mistake.

Where to report?

Annex J, Table 11.
This is a reporting obligation.
It does not directly affect the tax due.

Practical impact

You must report: • Even if the account was not used
•⁠ ⁠Every year while it is open
•⁠ ⁠Accounts of the entire household
You do not report: • Accounts closed before year-end
•⁠ ⁠Accounts opened in the following year

Practical note

Once Annex J is added, simulation is no longer available.
Run the simulation first.
Deadline: June 30.
Failure to comply may result in penalties and additional tax consequences.
Contact us to learn more.


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