What is the initiative to inform the Federal Tax Service of banks about the death of their clients?

What responsibility are they planning to impose on the tax service?

The bill assumes that the tax service should promptly provide credit organizations with information about the death of their clients. To do this, the Federal Tax Service will have to draw up a separate notice in electronic form and send it to banks through the automated information system “Tax-3” — for this, the tax authorities have one working day from the moment the taxpayer is deregistered. The notification form must be developed by the Federal Tax Service later — the draft law lists only the mandatory information for issuing a document:

• document number;
• date of the death certificate;
• name of the registry office that registered death of a citizen;
• date of death;
• information about the opened accounts of the deceased;
• additional information.

What is the initiative related to?

The explanatory note to the bill states that the new rules for interagency cooperation are aimed at reducing the risks of committing illegal actions with the money of deceased citizens.

The discussion of the interaction between the tax authorities and banks began in 2020. Then at a meeting of representatives of the Bank of Russia, the Federal Tax Service and the Ministry of Finance, it was said that amendments to the legislation would reduce the time for obtaining information by banks. Within the framework of the existing procedure, banks become aware of the death of clients from heirs, notaries, or already in the procedure for collecting overdue debts.

Where does the Federal Tax Service get information about the death of a taxpayer?

About this within ten days from the moment of registration of the fact of death, the tax authorities are notified by the registry office.

What are the bank's actions after receiving information from the Federal Tax Service about the death of a client?

In accordance with the bill after the bank receives information about the death of the client from the tax authorities, it must stop financial transactions on the accounts of the deceased.

How will the adoption of the law affect the lives of Russians? 

Head of the legal department of Bankrupt-Service LLC Angelina Vintaykinatold aif.ru that she considers the proposed initiative a necessary measure. “I think this innovation is simply necessary for the rapid exchange of information between organizations that are actively involved in people's lives. The changes will prevent the illegal use of the funds of a deceased person until relatives come into the inheritance. It is also important to have such information in order to optimize the workflow of banks in case of recovery of debt from a deceased person — this will help not to waste time preparing irrelevant documents, as well as to identify new debtors to whom the debt has been inherited,” — the expert commented.

Sources:

https://iz.ru/1381667/natalia-bashlykova/schet-ne-umesten-zachem-fns- soobshchat-bankam-o-smerti-klientov

https://aif.ru/society/fns_obyazhut_soobshchat_bankam_o_smerti_klientov_izvestiya

https://www.gazeta.ru/business/news/2022/08/19/18363764.shtml

https://sozd.duma.gov.ru/bill/123829-8#bh_note

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