What do I need to declare to the French tax authorities for a foreign bank transfer?

Sending or receiving money from abroad is completely legal for French residents, but it must comply with certain rules.

Even though you're free to open a bank account abroad, international transfers remain governed by French law, with strict reporting requirements and increased tax audits.

As a result, a simple bank transfer can quickly become a headache if you're not well-informed. Fortunately, alternative solutions like Wise simplify these procedures by offering a more flexible and transparent framework.

Are you looking to send money to France or receive it from abroad? Are you undecided between your traditional bank and an online platform? In this article, we explain everything you need to know to make an informed and secure choice.

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International money transfers: under surveillance

Whether you're an expat, a frequent traveler, or simply financing a project abroad, any international money transfer may be monitored.

Transfers to and from abroad are subject to increased scrutiny by the tax authorities. The objective is to combat tax evasion, money laundering, fraud, and the financing of terrorism.

To carry out this mission, the French administration can count on several allies: banks, of course, but also TRACFIN (the service responsible for tracking illicit financial channels) and customs.

How are international transfers monitored in France?

Depending on the nature of your international money transfers, they may be closely monitored. Tax audits remain the most common: the government can consult your accounts at any time to verify the origin of the funds and compliance with your reporting obligations.

But that's not all. Depending on the case, customs services and TRACFIN (the organization that combats illicit financial flows) may also be involved. Customs primarily monitors cash transfers, whether they are from a European Union country or not. TRACFIN, for its part, focuses on banking transactions deemed suspicious.

Banks play a key role in this system: they are required to report any unusual transactions. In case of doubt, banking secrecy can be lifted, and audits can be initiated without your knowledge.

Which transactions must be declared?

Not all transfers are subject to the same rules:

• Transfers between European countries: No specific declaration is required. These transfers are the simplest… but are still monitored by banks.

• Transfers outside the European Union: No declaration is required either, but checks may occur. However, you must declare the existence of a bank account abroad to the tax authorities, otherwise you may be subject to penalties.

• Cash transfers: These must be declared to customs if you are carrying €10,000 or more, whether entering or leaving France.¹

What is the relationship between banks and tax authorities?

Banks are not simply private service providers. In France, they are legally required to cooperate with the tax authorities.

As soon as a transaction appears suspicious, they must submit a suspicious transaction report to TRACFIN. This decision is based on their own judgment: there is no official threshold. This may involve an unusual transfer, large amounts, or funds whose origin appears unclear.

In this case, your bank will contact you to obtain supporting documentation. If this documentation is deemed insufficient, the file may be forwarded to the tax authorities or TRACFIN for further analysis.

Foreign bank accounts: reporting obligations, risks, and rules to know

As you may have guessed: international transfers are regulated, but even holding a bank account abroad also entails specific obligations. Here's what you need to know to comply with French tax law.

Do you have to declare your foreign accounts?

You can certainly hold a bank account abroad—it's legal. But you are required to declare it to the French tax authorities.

Is it legal to open an account abroad?

Yes. As a French tax resident, you are free to open a bank account abroad, provided you declare it on your annual tax return.

When and how to declare a foreign account?

You must declare it when you file your tax return by completing form 3916 (or 3916-bis for certain digital accounts).² Simply add it to your usual tax return, whether on paper or online.

What are the risks of not declaring it?

Failure to declare a foreign account exposes you to:³

• A fine of €1,500 per undeclared account,

• Up to €10,000 if the account is located in a non-cooperative tax country,

• An 80% tax increase in the event of a tax assessment for fraud or concealment.

These penalties may apply even if the account in question did not generate taxable income.

What about accounts opened at online financial institutions?

Do you use N26, Revolut, Wise, Bunq, or Qonto? Please note: if your account is domiciled abroad, you must declare it in the same way as an account opened at a traditional bank such as Société Générale or BNP Paribas.

The rule is simple: the bank’s registered address that counts, not the type of bank or its interface. As soon as the account is opened outside France, declaration is mandatory.

Wise: a simple and secure solution for your international transfers

Transfers to and from abroad are governed by strict rules. If you want to send or receive money internationally with complete peace of mind, Wise represents a practical alternative to traditional banks.

By opening a Wise account, you can manage 40+ currencies and obtain 8+ local account numbers (euros, US dollars, pounds sterling, etc.) to send and receive money easily, quickly, and at a lower cost.

As a bonus, the Wise card allows you to pay for your expenses abroad at the mid-market exchange rate, with no hidden fees.

And as mentioned above, before opening a Wise account or any other solution abroad, make sure you understand your tax obligations. Some accounts must be declared. If in doubt, contact your tax office to avoid any penalties.

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This article is a translation of the original article published in French and was translated within 365 days of publication. While the content has been translated for accessibility, the data and sources referenced have not been updated since the original publication date.

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Last verified on May 13, 2025.