As you may know, the French authorities are now taking a more proactive approach to collecting taxes.

As mentioned in an earlier broadcast, bank accounts held outside France, including at the MEC, need to be declared on the tax form.

Many of you have been in touch to ask about how to regularize your situation if you have not declared these accounts in past tax forms. We are not tax experts and will not offer tax advice. However, we have obtained information and had exchanges with the authorities that you may find useful and which we would therefore like to share with you.

If you have not declared your accounts abroad prior to 2013 but wish to regularize your situation, you may wish to write to the Direction nationale des vérifications de situations fiscales, Service des traitements des déclarations réctificatives, 17 place l’Argonne, 75019 Paris. You should state that you wish to regularize your tax situation and provide the documents requested in this document from the tax authorities (page 2).

In doing so you will be liable to pay any back taxes avoided, increased by a premium, and a charge. These are explained in this government circular (page y). This document from the authorities explains (page x) how far back the taxes will go.

Should the authorities decided to investigate you before you regularize yourself, the fines in this government circular could apply (page x).

As you will see at the bottom of this government circular (page 1), the authorities have ruled out negotiations or amnesties.

We hope this information is useful. Should you wish to find our more, we recommend that you contact your local tax office or a tax lawyer.