Russia’s Government Resolution No. 305 updates reporting rules for resident legal entities on foreign accounts and electronic payment instruments. From 1 April, reports must be submitted quarterly, with exemptions for foreign banks and consolidated filings by multinational groups.
Russia’s government Resolution No. 305, published in the Official Gazette on 24 March 2026, introduces amendments to reporting requirements for resident legal entities regarding foreign accounts and electronic payment instruments (EPI). The decree clarifies reporting periods, extends deadlines, and provides exemptions for certain multinational group arrangements.
Effective 1 April 2026, resident entities must submit reports quarterly within 30 business days following the reporting period, replacing previous calendar-day deadlines. For EPI, reports are required when funds credited in a quarter exceed RUB 600,000 (or the equivalent in foreign currency).
The resolution specifies how to report accounts or EPI rights opened or closed mid-period. Reports must cover the period from the opening date to the end of the reporting term, or from the start of the period to the closure date, as applicable.
Exemptions are introduced for international groups of companies. Resident entities need not report on non-resident entities that are foreign banks. Furthermore, parent companies or authorised participants can submit consolidated reports on behalf of all group members, relieving individual entities from duplicate reporting.
The amendments also expand notification exemptions related to the opening, closing, or modification of foreign accounts within multinational groups.
