For returns to be filed as from 01/01/2020, Article 1649 bis C of the French Tax Code (FTC) provides that natural persons domiciled in France must declare, at the same time as their annual income tax return, the references of digital asset accounts and, in particular, of crypto-currencies (e.g.: bitcoins) opened, held, used or closed with companies, legal persons, institutions or bodies established abroad.
A person is deemed to hold a foreign digital asset account when he or she is the holder, joint holder, economic beneficiary or beneficial owner. He/she is deemed to have used such an account when he/she has carried out at least one credit or debit transaction in the year, as account holder or by proxy, for himself/herself or for the benefit of a person who is a resident.
The specific declaration must mention:
- the name and address of the institution or manager with whom the account is opened,
- the number, nature, use and type of the account,
- -the opening or closing date if this occurs during the tax year,
- the declarant’s identification details (surname, first names, date and place of birth, address) (Article 344 G undecies of Annex 3 of the FTC).