When is a certificate of foreign exchange operations provided? Foreign currency crediting to a transit currency account

Every year, Russia's foreign economic activity is increasing its volumes and the number of contracts concluded. When making foreign trade transactions, settlements with companies occur mainly through foreign currency. The Central Bank of Russia maintains records and controls the currency received or decreased as a result of resident companies conducting foreign economic activity. A certificate of foreign exchange transactions is one of the tools for such control.

What kind of help is this?

A certificate of foreign currency transactions is one of two forms existing in Russia that monitor and record foreign currency transactions. The appearance and contents of the certificate were compiled by representatives of the Central Bank of the Russian Federation. Since the state constantly regulates the turnover and volume of operations conducted with foreign currency, each enterprise that conducts foreign economic activity must provide data on foreign exchange transactions.

What information needs to be entered and when a certificate of foreign exchange transactions is provided, you can find in the special instruction of the Central Bank of Russia under the number 138-I.

The control over all currency transactions within the state is entrusted to the Central Bank, and it, in turn, instructs banks to carry out part of their tasks.

Who is required to submit a certificate of currency transactions

Be sure to provide such a certificate to residents who are registered as individual entrepreneurs and whose accounts go through incoming and outgoing transactions in foreign currency. That is, there is a place to be crediting foreign currency to a transit currency account and debiting from an account in foreign currency. Data on all such transactions is provided to authorized banks in the form of a certificate of foreign currency transactions.

The servicing bank may conclude an agreement with the client, unilaterally compile and send transaction data on the current currency account within the time periods established by law. Often this condition is negotiated with the client when concluding an agreement on servicing a foreign currency account.

When a certificate of currency transactions is provided by an authorized bank to the Central Bank of Russia, all documentation on past transactions in foreign currency submitted by a resident company is used. If a resident believes that the information generated by a trusted bank reflects incorrect information, then it is possible to correct the data using a special certificate.

Who should not submit such a certificate

Filling out a certificate of foreign exchange transactions does not apply to individuals who are not private entrepreneurs. More precisely, ordinary citizens who are not registered as legal entities and who lack private practice.

Transactions recorded in the certificate

All the detailed information about what operations in foreign currency are possible for residents and non-residents, and are also subject to state control, is displayed in the Federal Law on Currency Regulation. We list the transactions that must be included in the certificate of foreign exchange transactions.

1. As mentioned above, this is primarily the operation of crediting a currency to a transit account of a resident company or debiting it.
2. Write-off from a current account opened in foreign currency by credit card, assets in national or foreign equivalent.
3. If transactions are made with banks that are not residents of the Russian Federation when a passport is issued.
4. When there is an open transaction passport under credit loan agreements or other contracts and transactions take place on crediting or debiting from the account of a resident company.
5. Operations that are carried out under an agreement with the full assignment of the right of claim (according to the transaction passport).
6. When a third party settles the transaction passports (there can only be a resident). Transactions can be in rubles or in foreign currency.
7. If the transaction passport indicates the possibility of a letter of credit. Such calculations are recorded in any currency.
8. Change of already recorded data in the certificate of foreign exchange transactions.

Cases in which a certificate of foreign exchange transactions is not needed

The Federal Law on Currency Regulation provides for special cases when the actions of resident companies are not subject to strict control and they do not need to be included in the certificate of foreign exchange transactions.

1. If a company is recovering funds in accordance with the laws of the Russian Federation.
2. When internal settlements are made between the bank servicing the current foreign currency account and the resident company.
3. If a write-off occurs, and the contract establishes the resident's acceptance.
4. When resident accounts are opened in one financial institution.
5. If transactions are made through an authorized bank.
   

What is a transaction passport

A transaction passport is a document with the help of which control is carried out between a resident and a non-resident carried out through foreign currency. It is necessary to draw up this document when there is a transfer of currencies for the import or export of goods into the territory of the state, the provision of services or work, the transfer of information, or as payment for intellectual activity. Also, the transaction passport is issued for loan agreements or credit transactions.

Contents and deadlines for filing a currency statement

When a certificate of foreign exchange transactions is provided, the following data must be entered into it:

• information about the bank and the company conducting the currency transaction;
• document serving as the basis for the transfer of currencies;
• Account number;
• transaction amount;
• currency code;
• operation code;
• data on the contract and transaction passport.

There is a standard form for filling out information on foreign currency transactions.

The deadlines for filling out and transmitting a certificate to the bank should not exceed 15 working days from the moment the funds arrived in the transit account or were debited from the current account.

Penalty for lack of information

In cases where a certificate of currency transactions is provided with a delay or in violation of the filing procedure, or is not filed at all with the authorized or the Central Bank of Russia, the law provides for administrative punishment. In particular, a fine. Moreover, both the resident company and the responsible official can be fined.

Fines applicable to resident companies:

• in case of non-compliance with the procedure for filing a certificate of transactions in foreign currency - a fine in the range of 40-50 thousand rubles;
• violation of the deadlines for submitting a certificate up to 10 days - 5-15 thousand rubles;
• violation of 10-30 days - a fine of 20-30 thousand;
• if more than 30 days, the fine can be from 40 to 50 thousand;
• If any of the above violations is repeated during the reporting year, the amount of the penalty may be 40-60 thousand rubles.

In the event of such violations, the official is fined up to other amounts:

• non-compliance with the procedure for filing documents and certificates - 4-5 thousand rubles;
• a delay of less than 10 days - from 500 to 1000 rubles;
• 10-30 days - 2-3 thousand;
• over 30 days - 4-5 thousand;
• repeated violation - 30-40 thousand in national currency.
  

The presence of a certificate of operations in foreign currency and its provision within the statutory deadlines are extremely important for the successful and long-term activities of the company. In order to avoid administrative measures and penalties, it is necessary to seek help from authorized banks. They can provide the necessary forms and help in their design.