Why do you assume this? Can anyone specify this for sure? A tax lawyer said that they send end of year balances. PayPal sends end of year balance. A law has to specify this.
Why do you assume this? Can anyone specify this for sure? A tax lawyer said that they send end of year balances. PayPal sends end of year balance. A law has to specify this.
Why do you assume this? Can anyone specify this for sure? A tax lawyer said that they send end of year balances. PayPal sends end of year balance. A law has to specify this.
Revolut is not yet a bank, they will become a real bank soon and may then report you as per the end of year requirement.
because what is the point in sending end of year balance?! From my understanding CRS is smth to make everyone in EU "transparent" or similar crap)
in case they would have sent only end of year balanced it will leave some room for tricks and manipulations.
the question is more to the bank which works with Revolut, do they report?! This must be UK physical bank since they provide ibans to Revolut. If the former one doe snot have even a license or does not care about all CRS stuff, but the real bank must be covered by CRS, right?!
SECTION I: GENERAL REPORTING REQUIREMENTS
Subject to paragraphs C through E, each Reporting Financial Institution must report to the competent authority of its Member State the following information with respect to each Reportable Account of such Reporting Financial Institution:
1. the name, address, Member State(s) of residence, TIN(s) and date and place of birth (in the case of an individual) of each Reportable Person that is an Account Holder of the account and, in the case of any Entity that is an Account Holder and that, after application of the due diligence procedures consistent with Sections V, VI and VII, is identified as having one or more Controlling Persons that is a Reportable Person, the name, address, Member State(s) and (if any) other jurisdiction(s) of residence and TIN(s) of the Entity and the name, address, Member State(s) of residence, TIN(s) and date and place of birth of each Reportable Person;
2. the account number (or functional equivalent in the absence of an account number);
3. the name and identifying number (if any) of the Reporting Financial Institution;
^^^4. the account balance or value (including, in the case of a Cash Value Insurance Contract or Annuity Contract, the Cash Value or surrender value) as of the end of the relevant calendar year or other appropriate reporting period or, if the account was closed during such year or period, the closure of the account;
^^^5. in the case of any Custodial Account:
(a) the total gross amount of interest, the total gross amount of dividends, and the total gross amount of other income generated with respect to the assets held in the account, in each case paid or credited to the account (or with respect to the account) during the calendar year or other appropriate reporting period; and
(b) the total gross proceeds from the sale or redemption of Financial Assets paid or credited to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Financial Institution acted as a custodian, broker, nominee, or otherwise as an agent for the Account Holder;
^^^6. in the case of any Depository Account, the total gross amount of interest paid or credited to the account during the calendar year or other appropriate reporting period; and
So if you are not a custodial account, then this gets reported pretty much? So what is this gross amount? Is that the leftover balance at end of 31 of December?7. in the case of any account not described in subparagraph A(5) or (6), the total gross amount paid or credited to the Account Holder with respect to the account during the calendar year or other appropriate reporting period with respect to which the Reporting Financial Institution is the obligor or debtor, including the aggregate amount of any redemption payments made to the Account Holder during the calendar year or other appropriate reporting period.
You do that with darks. If an service provider don't support your country you need deep pockets and open the account with other docsHow can I open an account on Revolut if I don't have a UK address and non european citizenship?
You do that with darks. If an service provider don't support your country you need deep pockets and open the account with other docs
They have frozen the business account of one of my customer without any reason, he put 300K on it. He has a legit online business, and he has opened the account with real docs.
Hard to communicate with them as they have no phone number and emails, only chat.
After few weeks, they realease the money and close the account.
still stuck there?We have the same issue now. Regular business, 100k USD inside and they froze the account. Communication is NULL.
Any advice what we should do? Chat and Email support is not responding and our money stuck there for 2 months now.
still stuck there?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?