Tax Law · European Union
Report Your Foreign Assets Correctly and Avoid the Penalties That Follow Omission
A bank account abroad, a property, an investment portfolio or a company you own in another country — many countries require you to declare foreign assets, and the penalties for missing them are severe. We match you, free of charge, with a lawyer who handles foreign asset reporting and disclosure across Europe.
- Lawyers who handle cross-border disclosure
- Coverage across the EU & EEA
- No fee to get matched
No commitment. No hidden fees.
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Tell us about your situation and receive a free, confidential case review.
Who this is for
Foreign asset reporting is easy to overlook and expensive to get wrong
Many countries require residents to declare assets they hold abroad — bank accounts, investment portfolios, real estate, pensions or interests in foreign companies — even where those assets generate no tax in the country of residence. The purpose is transparency: authorities want to know what you hold overseas so they can verify that the income and gains from it are properly taxed. The reporting rules, the thresholds that trigger them, and the deadlines for filing vary significantly from country to country, and the penalties for failing to declare can be substantial, sometimes far exceeding the tax that was actually due. What makes this area dangerous is that the obligation is often invisible: you may owe nothing in tax, yet still owe a report. A specialist lawyer identifies what you must declare and helps you become compliant before the authority finds the omission first.
Why people fall foul of the rules
The obligation exists even when no tax is due.
Omission, not evasion, is the usual cause.
A foreign account or asset you have held for years, with no tax to pay, can still trigger a reporting obligation you never knew you had.
Not realising a report is required
Foreign asset reporting is separate from paying tax on foreign income. You can owe no tax at all and still be required to declare the asset — and the absence of a tax bill is exactly why the report gets missed.
Forgetting long-held accounts
An account opened years ago, a property inherited abroad, or a company set up for an old venture can sit outside your day-to-day awareness while remaining fully reportable in your country of residence.
Underestimating the penalties
The fines for failing to declare foreign assets are often disproportionate to the sums involved and can apply per asset and per year. A small oversight, repeated over several years, can compound into a serious liability.
What you get
A foreign assets lawyer who brings you into compliance safely
We match you with lawyers who handle foreign asset reporting and voluntary disclosure regularly in your country of residence.
A complete picture of what to declare
Your lawyer reviews everything you hold abroad — accounts, property, investments, companies — and tells you precisely which items are reportable under your country’s rules and which are not.
Accurate filings prepared
The required declarations are drafted correctly, with the right values and classifications, so your reporting stands up to scrutiny rather than drawing attention for the wrong reasons.
Voluntary disclosure managed
If you have not reported in past years, your lawyer assesses the right voluntary disclosure route and handles it properly, which can substantially reduce penalties in several countries.
Ongoing compliance
Your lawyer sets up a repeatable process so future years are reported on time, removing the risk of the same omission recurring as your holdings change.
Coverage
Foreign assets reporting lawyers across Europe
Reporting rules are national and apply to assets held anywhere in the world, so the right lawyer is one who works with your country of residence’s requirements. We match cases across the following countries and beyond:
Frequently asked
Foreign assets reporting — common questions
Do I have to report foreign assets even if I pay no tax on them?
Yes, in many countries. The obligation to declare foreign assets is generally separate from any tax liability, and you can be required to report an asset even where it produces no taxable income or gain. Failing to report can trigger penalties regardless of whether tax was actually due.
What kinds of foreign assets typically have to be declared?
It varies by country, but common categories include foreign bank accounts, investment portfolios and securities, real estate abroad, pension plans, and interests in foreign companies or trusts. The thresholds at which each becomes reportable differ, so the specific list should be confirmed for your situation.
What are the penalties for not declaring foreign assets?
Penalties can be severe and often exceed the tax that would have been due on the asset. In several countries they are calculated per asset and per year, meaning a long-standing omission can compound into a very large liability, even where the underlying sums are modest.
What should I do if I have never reported my foreign assets?
Do not wait for the authority to discover the omission. The best course is usually a voluntary disclosure or correction, which several countries operate and which can reduce or eliminate penalties. A lawyer can assess your exposure and handle the disclosure correctly and discreetly.
Are assets in other EU countries treated the same as those outside the EU?
Not necessarily. Some countries apply lighter treatment to assets held within the EU or the EEA, while others treat all foreign assets alike. The rules depend on your country of residence and, in some cases, on the location of the asset.
How far back do I need to report foreign assets?
The look-back period and any statute of limitations vary by country and by the nature of the omission. Where the omission is ongoing, the obligation generally applies to all open years, so the correction often needs to cover several periods at once.
Free case review
Bring your foreign holdings into compliance before the authority does it for you
Tell us what you hold abroad and we’ll connect you with a foreign assets reporting lawyer in your country — free of charge, with no obligation to hire.