Instructions of the Central Bank on currency and currency control. New instructions for use, or how the Bank of Russia will control foreign exchange transactions

14.11.2017

On November 2, 2017, Bank of Russia Instruction No. 181-I dated August 16, 2017 “On the procedure for residents and non-residents to submit supporting documents and information to authorized banks when carrying out foreign exchange transactions, on uniform forms of accounting and reporting on foreign exchange transactions, the procedure and terms their representations" ( comes into force on March 1, 2018.; at the same time, the Instruction No. 138-I of June 4, 2012, which was in force earlier, ceases to be valid).

The new Instruction somewhat simplifies the procedure for issuing documents related to the conduct of foreign exchange transactions in foreign economic transactions in Russian authorized banks. It applies to residents - legal entities, individual entrepreneurs and individuals engaged in private practice, as well as to non-residents who are not individuals.

According to the specified Instructions:

1. The requirement to issue transaction passports has been cancelled. The previous Instruction No. 138-I set the threshold for the amount of obligations under the contract, the excess of which required the issuance of a transaction passport, in the amount of 50,000 US dollars. The new Instruction 181-I does not provide for the requirement to draw up a transaction passport.
2. The requirement for residents to submit to authorized banks is abolished certificates of currency transactions and statements of currency control, which were forms of accounting. At the same time, the requirement to submit documents that are the basis for conducting foreign exchange transactions remains.
3. Establishes the procedure for the submission by residents and non-residents to the bank supporting documents and information in connection with foreign exchange transactions.

In particular, a resident, when carrying out an operation for crediting foreign currency to a transit currency account, must submit to the bank documents related to the conduct of operations, no later than 15 working days after the date of crediting foreign currency to the transit currency account, specified in the bank's notification of its crediting.

When debiting foreign currency from the current account of a resident, the resident must submit to the bank documents related to the conduct of operations, simultaneously with a withdrawal order.

The requirements for the submission of supporting documents apply to agreements (concluded between residents and non-residents, and providing for settlements through residents' accounts (opened in both Russian and foreign banks)), the amount of liabilities for which is equal to or exceeds equivalent:

• for import contracts or loan agreements – 3 million rubles;
• for export contracts - 6 million rubles.

The amount of obligations under the contract (loan agreement) is determined on the date of its conclusion or, in the event of a change in the amount of obligations, on the date of conclusion of the last amendments (additions) to the contract providing for such a change in the amount, at the official exchange rate of foreign currencies against the ruble.

If the amount of obligations under an agreement with a non-resident is equal to or does not exceed the equivalent of 200,000 rubles, submission of documents related to foreign exchange transactions under such an agreement is not required.

1. Introduced new procedure for accounting for contracts in banks with the assignment of unique numbers to them (as well as their removal from the register and changes in the information in them), which replaces the existing procedure for issuing transaction passports.

A resident who is a party to an export or import contract, or a loan agreement, must register them with an authorized bank and make settlements under such a contract only through their accounts opened with the authorized bank that registered the contract. The bank accepts the contract for accounting and assigns a unique number to it (which informs the resident).

To register a contract, almost the same information is required as now to fill out a transaction passport:

• general information about the contract: type of contract, date, number (if any), currency of the contract, amount of obligations stipulated by the contract, date of completion of the fulfillment of obligations under the contract;
• details of a non-resident who is a party to the contract: name, country.

1. Transaction passports issued but not closed before March 1, 2018 will be considered closed from the specified date. At the same time, a note about their closure in the transaction passport will not be affixed, and its unique number will be transferred by the bank to the register as the number of the registered contract.

Note that banks are not entitled to refuse to register the contract. At the same time, the maximum period for such an operation cannot be more than 1 business day. Instruction 138-I, which was in force earlier, set a deadline for issuing a transaction passport at 3 working days.

In addition to this, it should be mentioned that in addition to changes in the rules for processing transactions for the purposes of currency control towards their simplification (reducing the number of required documents; increasing the threshold values ​​of transaction amounts at which they are required to be registered; reducing the time for registering a transaction), there have appeared and other features of the regulation of foreign economic transactions, provided for Federal Law No. 325-FZ of November 14, 2017 “On Amendments to Articles 19 and 23 of the Federal Law “On Currency Regulation and Currency Control” and the Code of Administrative Offenses of the Russian Federation”. These include the following:

1. Installed Mandatory requirement to indicate the deadline for the fulfillment of obligations by the parties under a foreign economic agreement.

Based on the wording of the new wording of paragraph 1.1 of Article 19 of the Federal Law "On currency regulation and currency control", it will be necessary not only to indicate the deadline for fulfilling obligations in the contract concluded between a resident of the Russian Federation and a non-resident, but also to inform banks precise terms for crediting funds in foreign currency to the account of a resident, as well as precise terms of fulfillment of obligations by a non-resident.

The wording of the previous edition made it possible to indicate in banking forms of accounting expected terms of fulfillment of obligations and transfer of funds in foreign currency. The new edition will come into force on May 14, 2018.

Thus, in practice, a situation may arise when a foreign economic agreement without specifying the deadlines for fulfilling obligations will be declared invalid due to non-compliance with legal requirements, or the bank will refuse to conduct a foreign exchange transaction under such an agreement.

1. Expansion of the list of grounds to refuse to currency transaction.

In addition to the previously provided grounds for refusing to conduct a transaction due to the failure by the parties to the transaction to submit the documents required by banks for a currency transaction or the inaccuracy of the information specified in such documents, after the provisions of the new version of FZ-173 come into force, banks will be able to refuse on other grounds. In particular, such grounds may be the implementation of prohibited transactions for crediting funds to the account of a resident of the Russian Federation in a foreign bank, the implementation of prohibited foreign exchange transactions between residents of the Russian Federation, as well as the non-compliance of documents submitted in connection with the transaction with legal requirements.

1. Introduces administrative liability for the implementation of prohibited foreign exchange transactions for officials in addition to the existing liability for individuals and legal entities, as well as individual entrepreneurs.

Responsibility consists in paying a fine in the amount of 20 to 30 thousand rubles to an official who violated the currency legislation. For the repeated commission of an illegal currency transaction, an official may be subject to disqualification for a period of 6 months to 3 years.

Generalization

The instruction of the Central Bank of the Russian Federation somewhat simplifies the procedure and procedure for foreign exchange control of foreign economic transactions of residents of the Russian Federation. This mainly concerns the cancellation of transaction passports with their replacement with bank registration agreements, as well as the abolition of the requirement to submit documents for transactions of less than 200,000 rubles. At the same time, new amendments to the currency legislation introduced requirements for the obligatory indication of the exact deadline for fulfilling obligations in a foreign economic contract (failure to fulfill which may lead to a refusal to conduct foreign exchange transactions under it, and possibly to the recognition of the transaction as invalid), the list of grounds for a bank's refusal to conducting a currency transaction and expanded the list of persons who can be held liable for violation of currency legislation (responsibility for officials was introduced).

The transaction passport and the certificate of foreign exchange transactions were cancelled. Instead, banks will register contracts (loan agreements)

Since March 2018, a new instruction of the Bank of Russia No. 181-I “On the procedure for residents and non-residents to submit supporting documents and information to authorized banks when carrying out foreign exchange transactions, on uniform forms of accounting and reporting on foreign exchange transactions, the procedure and terms for their submission” came into force. It cancels the obligation to issue a transaction passport, thus, the developers planned to make life easier for exporters and importers. Olga Gumel, Head of the Department of Foreign Exchange Control and Accounting for Foreign Exchange Operations of the Department for Corporate Clients Servicing of AKIBANK PJSC, spoke about what concessions and innovations appeared in the new document.

Head of the Department of Foreign Exchange Control and Accounting for Foreign Exchange Transactions of the Department for Servicing Corporate Clients of AKIBANK PJSC Olga GumelPhoto: Oleg Spiridonov

NEW INSTRUCTION - NEW RULES

- Olga Gennadievna, on March 1, 2018, a new instruction of the Central Bank No. 181-I came into force - what has it changed?

- She changed the rules for the implementation of foreign exchange transactions in Russia. New requirements for confirmation of foreign exchange transactions are now being introduced. Instruction of the Central Bank of the Russian Federation No. 181-I canceled the Instruction of the Central Bank of the Russian Federation No. 138-I, which lasted more than 5 years.

Instruction of the Central Bank of the Russian Federation No. 181-I introduces a number of global exceptions: firstly, the requirement to issue a transaction passport is canceled, secondly, the requirement to submit a certificate of currency transactions is canceled, thirdly, the requirement to provide an agreement concluded with a non-resident and supporting documents is canceled if the amount of liabilities is equal to or does not exceed 200 thousand rubles.

- What are the innovations?

– I would single out four key ones:

First: a new procedure for registering a contract (loan agreement) is being introduced, with the assignment of a unique number to it at the time of registration by the bank.

Second: the requirement for the minimum amount of the contract (loan agreement) for registration has been changed.

Third: a simplified procedure for registering a contract (loan agreement) is established for a resident exporter.

Fourth: the terms for consideration by the bank of documents when accepting a contract (loan agreement) for registration by the bank were reduced from 3 (three) business days to 1 (one) business day.

It should be noted that the control over foreign exchange transactions by banks remains. The authorized bank has the right to refuse to conduct a currency transaction in case of failure to submit supporting documents.

EVERY CONTRACT HAS A UNIQUE NUMBER

– What about the main requirements for the submitted documents in accordance with the Instruction of the Central Bank of Russia No. 181-I?

– The first requirement is that when conducting a transaction in foreign currency, documents are submitted to the authorized bank no later than 15 working days after the crediting of foreign currency to the client’s transit account, and when debiting foreign currency from the account, on the day of the transaction. Prior to the presentation of the foreign economic contract by the client, it is possible to debit from the transit account upon submission of the operation type code to the authorized bank. Please note: if the amount of the agreement concluded with a non-resident is equal to or less than 200 thousand rubles, then only the code of the type of currency transaction is submitted to the bank. The second requirement is that when conducting a transaction in Russian rubles, a settlement document and supporting documents are submitted to the authorized bank. And if the amount of the agreement concluded with a non-resident is equal to or less than 200 thousand rubles, then the client submits only a settlement document for a currency transaction.

– What is the minimum amount requirement for a contract (loan agreement) to be registered?

– Since March 1, 2018, the value threshold of obligations has increased, at which residents need to register a contract. Previously, the amount of obligations at which a resident had to issue a transaction passport under a contract (loan agreement) at the bank was 50,000 US dollars or more. But from March 1, 2018, the contract should be registered with an authorized bank if the amount of obligations is equal to or exceeds: under an import contract or loan agreement - 3 million rubles; under an export contract - 6 million rubles.

– How long does it take to register a contract (loan agreement)?

– When writing off foreign currency / currency of the Russian Federation in favor of a non-resident - no later than the Order on writing off funds.

- When crediting foreign currency / currency of the Russian Federation from a non-resident - no later than 15 working days after the date of crediting the funds.

– When debiting or crediting foreign currency / currency of the Russian Federation from / to a resident account opened with a non-resident bank - no later than 30 working days after the month in which the operation was carried out.

– When importing/exporting goods, if there is a declaration requirement, no later than the date of filing the declaration for goods.

- When importing / exporting goods in the absence of a declaration requirement, when performing work, rendering services, transferring information and results of intellectual activity, when fulfilling obligations in another way - no later than the deadline for submitting a certificate of supporting documents.

Photo: BUSINESS Online

– Are there any additional requirements for a resident who has registered a contract (loan agreement), except for the submission of documents related to a foreign exchange transaction?

- There is. For example, you need to provide information about the unique number of the contract (loan agreement):

– When crediting foreign currency to a transit account, you must simultaneously provide information about the type of operation code or documents related to the operation.

– When debiting foreign currency from a current account in foreign currency - simultaneously with an order to debit foreign currency.

- When crediting the currency of the Russian Federation to the current account in the currency of the Russian Federation - no later than fifteen working days after the date of its crediting to the resident's current account.

– When writing off the currency of the Russian Federation from the current account in the currency of the Russian Federation – simultaneously with the settlement document for the transaction.

"THE BANK WILL NOT REFUSE IF YOU COMPLY WITH THE REQUIREMENTS OF THE CURRENCY LEGISLATION"

– Do I need to somehow confirm the operations with documents?

- Undoubtedly. Such documents include documents used as a declaration for goods, an application for conditional release (an application for the release of a component of the exported goods), and other supporting documents (transport, commercial, accounting).

- What is the deadline for submitting supporting documents?

– Not later than 15 working days after the month in which the date of issue was marked on the documents used as a declaration for goods by a customs official.

– Not later than 15 working days after the end of the month in which other supporting documents were issued.

An important requirement of the new instruction is that you must provide information on the expected period for the repatriation of foreign currency and (or) the currency of the Russian Federation, which is determined on the basis of the terms of the agreement registered by an authorized bank when a resident makes advance payments in favor of a non-resident.

If you comply with all the requirements established by the currency legislation, you will insure yourself against the risk of the bank's refusal to carry out a currency transaction.

License of the Central Bank of the Russian Federation No. 2587. PJSC "AKIBANK"

Central Bank of the Russian Federation (Bank of Russia)
Press Service

107016, Moscow, st. Neglinnaya, 12

Information

On Instructions of the Bank of Russia dated August 16, 2017 No. 181-I “On the procedure for residents and non-residents to submit supporting documents and information to authorized banks when carrying out foreign exchange transactions, on uniform forms of accounting and reporting on foreign exchange transactions, the procedure and deadlines for their submission”

The Ministry of Justice of the Russian Federation registered Bank of Russia Instruction No. 181-I dated August 16, 2017 “On the procedure for residents and non-residents to submit supporting documents and information to authorized banks when carrying out foreign exchange transactions, on uniform forms of accounting and reporting on foreign exchange transactions, the procedure and deadlines for their submission” (hereinafter referred to as the instruction).

This instruction is aimed at liberalizing the current requirements of currency control in terms of reducing the burden on residents when they perform foreign exchange transactions.

The document cancels the requirement for residents to issue a transaction passport in an authorized bank. Instead of the requirement to issue a transaction passport, the procedure for registering contracts with banks is being introduced with the assignment of unique numbers to them. For resident exporters, a simplified procedure for registering contracts is established. Registration of contracts by banks is carried out within one working day. The new procedure eliminates the grounds for a bank to refuse to register a contract.

The value of the amount of obligations, which requires registration under foreign trade export contracts, has been increased to 6 million rubles 1 .

The instruction cancels the requirement for residents to submit to authorized banks certificates of foreign exchange transactions, which are forms of accounting, while maintaining the requirement for them to submit documents that are the basis for foreign exchange transactions.

The document introduces a procedure that eliminates the need for residents to submit documents related to the conduct of foreign exchange transactions under agreements (contracts) concluded with non-residents, the amount of obligations of which in the equivalent is less than 200 thousand rubles.

The instruction reduces the burden on residents in terms of processing currency control documents, which will help reduce the grounds for bringing residents to administrative responsibility, simplifies the mechanism for interaction between residents and banks, increases the efficiency of the work of resident exporters, and redistributes the burden in terms of currency control from residents to authorized banks.

1 Currently, in accordance with the Instruction of the Bank of Russia dated 04.06.2012 No. 138-I “On the procedure for residents and non-residents to submit to authorized banks documents and information related to the conduct of foreign exchange transactions, the procedure for issuing transaction passports, as well as the procedure for accounting by authorized banks of foreign exchange transactions and control over their implementation”, the value of the amount of obligations, at which a resident needs to issue a transaction passport under a foreign trade contract in an authorized bank, is 50 thousand US dollars.

With March 1, 2018 year, the rules for the implementation of foreign exchange transactions in the Russian Federation are changed. The new Instruction Central Bank 181-I, which introduces new requirements for confirmation of foreign exchange transactions. It contains 190 pages, cancels the previously valid 138 instruction of the Central Bank " About the order of presentation banks documents and information related to the conduct of foreign exchange transactions , the procedure for issuing passports of transactions, as well as the procedure for accounting by authorized banks of foreign exchange transactions and control over their conduct.

In this article, I will talk about 5 important requirements of the new 181 instruction of the Central Bank, in case of violation of which the bank will definitely report the violations of currency control to the Federal Tax Service and the Federal Customs Service of the Russian Federation, which will entail an inspection of your currency activity by these regulatory services.

With you Irina Stepanova, PhD in Economics, Director of the School of Economics and Law. With you Irina Stepanova, Can, Director of the School of Economics and Law. Previously, we worked as Business Seminars and Tandem Forum. Since 1998 our company has been organizing round tables on issues of currency regulation and control in the Russian Federation since 1998.

As you know, the new Instruction 181-I " About the order of presentation residents and non-residents authorized banks supporting documents and information on uniform forms of accounting and reporting on foreign exchange transactions, the procedure and terms for their submission” introduces a number of relaxations:

• cancels the requirement to issue a transaction passport,
• cancels the certificate of foreign exchange transactions,
• eliminates the need to submit supporting documents for contracts not exceeding 200 thousand rubles.

At the same time, a number of requirements for the implementation of foreign exchange transactions remain, the fulfillment of which the bank will require from you. When failure to submit required documents the bank will refuse to conduct a foreign exchange transaction .

The Bank may refuse to conduct a foreign exchange transaction not only in case of failure to submit supporting documents, but also in case of FZ-173). We will talk more about FZ-173 in the next article, and now I want to draw your attention to the fact that if violations are detected in the procedure and terms for submitting documents for the implementation of foreign exchange transactions, the bank informs the Federal Tax Service and the Federal Customs Service of the Russian Federation . This will result in the requirement to provide supporting documents for foreign exchange transactions from the tax and / or customs service, penalties, on-site tax or customs audits.

In order to avoid all these troubles, let's consider what are the main requirements for the submitted documents in accordance with the Instruction of the Central Bank of Russia No. 181-I dated August 16, 2017. " About the order of presentation residents and non-residents authorized banks supporting documents and information when carrying out foreign exchange transactions, on unified forms of accounting and reporting on foreign exchange transactions, the procedure and deadlines for their submission.

5 main requirements of the instruction of the Central Bank No. 181-I

First requirement- If an operation is performed in foreign currency

Documents are submitted to the bank related to transactions in foreign currency, no later than 15 working days after crediting $ (foreign currency) to the account or debiting funds from the account.

Before the submission of documents, it is possible to debit the transit account upon submission of the transaction type code.

!! Only the transaction type code is submitted without documents, if the amount of the transaction with a non-resident is 200 000 rubles in equivalent.

Second requirement– If a currency transaction is carried out in rubles

In this case, a settlement document for a currency transaction (383-P) + documents , specified in part 4 of article 23 No. 173-FZ “On currency regulation and currency control”

!! Only the settlement document for the transaction (383-P) is submitted without documents, if the amount of the transaction with a non-resident is 200 000 rubles in equivalent.

When is the contract (loan agreement) registered?

Export goods, works, services, information and results of intellectual activity - if the amount of obligations equal to or exceeds the equivalent of 6 million rubles on the date of the conclusion of the contract, or in the event of a change in the amount of obligations under the contract -

Import goods, works, services, information and results of intellectual activity - if the amount of obligations equal to or exceeds the equivalent of 3 million rubles at the official exchange rate of foreign currencies against the ruble established by the Bank of Russia on the date of the contract, or in the event of a change in the amount of obligations under the contract - as of the date of the last amendment(additions) to the contract providing for such changes.

Credit agreement (loan agreement) is registered if the amount of liabilities is equal to or exceeds the equivalent of 3 million rubles at the official exchange rate of foreign currencies against the ruble established by the Bank of Russia on the date of conclusion of the loan agreement, or in the event of a change in the amount of obligations under the loan agreement, as of the date of conclusion of the last amendments (additions) to the loan agreement providing for such changes.

How long does it take to register a contract (loan agreement)?

• If payment is made after the export / import of goods – no later than the deadline for filing the Customs Declaration
• If bank payments – no later than settlement
• If settlements through a non-resident bank — no later than 30 working days after the month in which the operation took place
• If other performance of obligations – no later than the deadline for submitting the Certificate of supporting documents(taking into account that the bank has 3 business days to verify the specified documents)
• If other cases – no later than the deadlines for submission of relevant documents

In addition to the documents related to the foreign exchange transaction and the transaction listed above, the resident who registered the contract (loan agreement) must also fulfill the following three requirements.

Third requirement— It is necessary to provide information about the unique number of the contract (loan agreement) (UNC)

• when crediting foreign currency on TVS - simultaneously with the presentation of information about the operation type code or documents related to transactions;
• when writing off foreign currency from a current account in foreign currency – at the same time as the withdrawal order foreign exchange;
• when crediting rubles to current account - no later than 15 working days after the date of enrollment to the settlement account of a resident, specified in the statement of operations on the account or in another document transferred by the authorized bank to the resident;
• when writing off rubles from current account - simultaneously with the settlement document for the operation.

Fourth requirement– It is necessary to submit documents related to the operation

What about supporting documents?(with the exception of goods declared by submitting a DT):

1) documents used as a declaration for goods provided for paragraph 4 of article 180 of the Customs Code of the Customs Union, an application for conditional release (an application for the release of a component of the exported goods), provided for by Article 215 of the Federal Law of November 27, 2010 N 311-FZ “On Customs Regulation in the Russian Federation;

2) transport(shipping, shipping), commercial documents,

Additionally, it may submit: other documents containing information about the export of goods from the territory of the Russian Federation (shipment, transfer, delivery, movement) or the importation of goods into the territory of the Russian Federation (receipt, delivery, acceptance, movement), drawn up under the contract and (or) in accordance with business practices

3) transfer-acceptance certificates, invoices, invoices and (or) other commercial documents drawn up under a contract and (or) in accordance with business practices, including documents used by a resident to record their business transactions in accordance with accounting rules and business practices turnover

4) other documents confirming the appropriate fulfillment (change, termination) of obligations under the contract (loan agreement), including documents used by the resident to record their business operations in accordance with accounting rules and business practices

What are the deadlines for submitting supporting documents?

1) no later than 15 working days after the month , in which on the documents used as a declaration for goods, an application for a conditional release (an application for the release of a component of the exported goods), an official of the customs authorities put a mark on the date of their release (conditional release) . If there are several marks on the specified documents by the official of the customs authorities about different dates of release (conditional release) of goods, the period specified in this subparagraph is calculated from the latest date of release (conditional release) of goods indicated on the document;

2) no later than 15 working days after the end of the month in which they were issued other supporting documents . The date of issuance of such supporting documents is the latest date of its signing or the date of its entry into force, or in the absence of these dates, the date of its compilation or the date indicating the import into the territory of the Russian Federation (receipt, delivery, acceptance, movement) or export goods from the territory of the Russian Federation (shipment, transfer, movement), indicated in the supporting document.

Fifth requirement— It is necessary to provide information on the expected timing of the fulfillment of obligations when debiting an advance payment from a resident's current account in favor of a non-resident.

This is primary requirements to the submission of supporting documents for foreign exchange transactions established by Instruction 181-I. If you remember and comply with them, then you will insure yourself against the risk of the bank refusing to make a foreign currency payment. We have already mentioned that the Bank may refuse to conduct a foreign exchange transaction not only in the event of failure to submit supporting documents , but also in the case if this foreign exchange payment violates the provisions of Articles 9, 12 or 14 Federal Law "On currency regulation and currency control" ( FZ-173).

Tomorrow in a new article I will tell you moreon requirements for foreign exchange transactions imposed by Federal Law-173 "On currency regulation and currency control".

By signing a contract with a non-resident, for example, for the supply of goods, for the provision of advertising services, an agency agreement, etc., the organization automatically becomes a participant in a foreign economic transaction. In this case, settlements under the contract with a non-resident in cash are not possible.

Within the framework of the Russian currency legislation, settlements on foreign economic transactions should take place only through authorized banks in a non-cash form. It is at this stage that the organization is obliged to pass currency control for legal entities in a bank acting as a currency control agent.

In the article, we will analyze: the procedure and sequence of carrying out currency control by the bank, what documents need to be submitted to the bank for currency control, we will consider the responsibility for violating the terms of currency control, and also what changes in currency legislation came into force in 2018.

1. The main legislative framework for currency control for legal entities

2. Currency control for legal entities

3. Bodies of the Russian currency control

4. Mandatory actual deadlines and what to do if they fail

5. Changes to the law on currency control

6. Documents to the bank for currency control

7. Registration of the contract by an authorized bank

8. Providing certificates of supporting documents

9. Responsibility for violation of the terms of currency control

So let's go in order.

1. The main legislative framework for currency control for legal entities

The main regulatory documents governing the implementation of currency control by banks are:

1. Federal Law No. 173-FZ "On currency regulation and currency control". This law was amended on May 14, 2018.
2. Instruction of the Central Bank No. 181-I dated August 16, 2017, adopted in accordance with the law No. 173-FZ. This instruction regulates the process of providing documents and information to the bank when performing foreign exchange transactions. And it came into force on 03/01/2018 instead of the previous Instruction of the Bank of Russia dated 06/04/2012 No. 138-I.
3. Another important document that is directly related to currency legislation is Article 15.25 of the Code of Administrative Offenses of the Russian Federation. This article spells out all types of liability for violation of normative acts of currency legislation.

These are the three main regulatory documents in the field of currency legislation that have undergone significant changes in 2018. Since ignorance of the law does not exempt from liability, let's take a closer look at the above regulations and liability for their violation.

2. Currency control for legal entities

An exhaustive list of transactions subject to such control is indicated in Part 9 of Article 1 of Law No. 173-FZ. Among them:

• purchase or sale of currency by a company, as well as settlements under contracts using currency;
• import or export of currency;
• moving the currency owned by the company to foreign accounts and returning it back from such accounts.

3. Bodies of the Russian currency control

Before talking about the changes and the current rules, let's designate the parties that interact in the course of currency control.

In general, the logic of currency legislation for legal entities is as follows: if something came to the Russian Federation (goods, services, cash), but the equivalent indicated in the contract (goods, services, cash) did not leave the Russian Federation, then to administrative responsibility does not apply to a resident.

For example, a resident imported goods from a European country, but did not pay for the goods within the terms established by the contract. Administrative responsibility will not be applied to the resident. The logic can be traced - the country has not lost anything, right? In addition to business reputation of course ...

If, on the contrary, something has left the Russian Federation (goods, services, funds), then the equivalent indicated in the contract (goods, services, funds) must necessarily come in response. If in this case the equivalent does not come, then the resident bears administrative responsibility under Art. 15.25 Administrative Code. Because there are direct losses for the country.

The currency control bodies impose an administrative fine on resident participants in foreign economic transactions. Russian currency control authorities include:

1. Central Bank of the Russian Federation– controls only credit institutions (banks);
2. Customs– controls compliance with currency legislation related to the movement of goods and vehicles across the customs border of the Russian Federation;
3. Tax authorities– controls compliance with currency legislation related exclusively to the performance of work, the provision of services under contracts with non-residents;

Information about the violation of the terms of currency control to the customs and tax authorities comes from banks. Accordingly, if a resident organization has violated the terms of repatriation for the import of goods, then an administrative fine should be expected from the customs authorities. If the resident organization violated the terms of repatriation for the "import" of services, then an administrative fine should be expected from the tax authorities.

4. Mandatory actual deadlines and what to do if they fail

An important change has been made to federal law No. 173-FZ since May 14, 2018:

• The contract with a non-resident must specify the actual expected timing of the receipt of goods for import or cash for export. Not a conditional term, but an actual one, i.e. either a specific number of days, or a specific date! Wording "within two months" or "as available" will not work.
• In a contract with a non-resident there must be a deadline for the return of the advance payment if the goods are not delivered or works or services are not provided.

If the organization understands that the deadlines are suitable, and the non-resident supplier is in no hurry to deliver the goods for which the organization has made an advance payment (when importing) and delays payment (when exporting), then the organization needs to sign an additional agreement on the postponement of delivery (when importing) or payment goods (when exported) at a later date. The agreement date must be before the date of delivery of the goods (when importing) and payment for the goods (when exporting).

When services are not rendered or goods are not delivered and the organization understands that the deadline for the return of the advance is already approaching, and the non-resident supplier is in no hurry to return the funds, then the organization needs to sign an additional agreement to defer the return of the advance to a later date. The date of this agreement must be before the due date of the advance payment specified in the contract.

In the case of rendering services under a contract with a non-resident, a situation may arise when the non-resident delays the signing of the certificate of completion or delays payment for the services rendered. Then, upon receipt of an act of completed work from a non-resident, the organization signs it with the current date.

For example, an organization received an act of completion for March 2018 from a non-resident organization only on May 22, 2018: the organization signs an act of completion and sets the date of signing on May 22, 2018 and submits to the bank a Certificate of supporting documents no later than June 25, 2018 (not later than 15 working days after the month in which the services were rendered).

If these rules are followed, the organization will not be held administratively liable under Art. 15.25 of the Code of Administrative Offenses, part 4.5.

5. Changes to the law on currency control

So, the first change you already know is the mandatory indication of the actual expected dates in the contact. Let's talk in more detail about what other changes currency control has undergone for legal entities in accordance with the Instruction of the Central Bank of the Russian Federation No. 181-I in the procedure for interacting with banks in the implementation of foreign exchange transactions.

The certificate of foreign exchange transactions has been canceled since 03/01/2018, now it is not "in nature". But these changes did not affect the Certificate of supporting documents. The deadlines for submission remain the same. Please note that the Certificate of supporting documents in the “new” Instruction No. 181-I, just like in the “old”, is named the form of accounting and reporting on foreign exchange transactions.

A certificate of supporting documents is provided to the bank only if the contract with a non-resident is subject to registration with the bank and a unique number has been assigned to it, which is similar to the “old” Instruction if the Transaction Passport is issued before 03/01/2018.

Table: Changes to the law on currency control

Instruction No. 138-I until February 28, 2018	Instruction No. 181-I from 01.03.2018
Influence of the contract amount on currency control for legal entities
Transaction passport (if the amount of obligations is equal to or exceeds the equivalent of USD 50,000 as of the date of its conclusion)	A contact is registered and assigned a unique number (read more about this below)
The process of transferring the contract to the bank
It was required to issue a transaction passport, for which the contract itself had to be submitted to the bank	The transaction passport was canceled, and the bank puts the contracts on record. In some cases, the contract may be granted later
Information about foreign exchange transactions
When making a transaction worth more than $1,000, it was necessary: ​​to give the bank documents confirming its necessity; submit a certificate of foreign exchange transactions;	When making a transaction of 200 thousand rubles or more, transfers to the bank: documents that explain the transaction. The certificate of foreign exchange transactions has been cancelled.
Information about supporting documents
If the transaction took place, then the bank demanded an SPD.	If the transaction has taken place, residents and non-residents provide the bank with information about the type of operation code. SPD takes the form of a single form of accounting and reporting on foreign exchange transactions
The procedure for transferring the contract to another bank
A currency control sheet (VVK) was required from the organization	The bank itself is engaged in VVK
Reasons why the bank has the right not to conduct a foreign exchange transaction
Incorrect or missing documentation. Suspicion of money laundering.	Obligation of organizations to mark the dates of performance of the contract in the contract. Their absence is a reason to refuse to conduct a foreign exchange transaction.

6. Documents to the bank for currency control

As mentioned above, the transaction passport is not currently being compiled. Instead, another duty appeared - register a contract, after which the bank will assign a unique number to it. This is done in the following cases:

• for export– if the contract amount is equal to or more than 6 million rubles in equivalent;
• on the import of goods, works, services, loan agreements– if the contract amount is equal to or more than 3 million rubles in equivalent;

Also from 01.03.2018, if funds are received within one contract no more than 200,000.00 rubles. in equivalent - nothing needs to be provided to the bank, except for the currency transaction code.

The ruble equivalent of the currency value of the contract is calculated at the official exchange rate on the date of its conclusion.

If funds are received under one contract:

• for export - more than 200 thousand rubles. in equivalent, but up to 6,000,000.00 rubles. in equivalent
• for imports - more than 200 thousand rubles. in equivalent - up to 3 million rubles. in equivalent

then documents are provided in agreement with the bank, which explain the transaction.

For resident exporters, simplified procedure for registration of contracts based on information about the export contract. In the event that a resident exporter submitted only information to register an export contract, the export contract must be submitted to the Bank no later than 15 working days after the date of registration of the export contract by the Bank.

To register a contract with a bank, you need to send him a contact or general information on the contract.

7. Registration of the contract by an authorized bank

The resident is obliged to register the contract with the bank within the following terms:

when crediting foreign currency or the currency of the Russian Federation to the account of a resident;	no later than 15 working days after the date of enrollment;
when writing off foreign currency or the currency of the Russian Federation;	before the implementation of a foreign exchange transaction (transfer of funds);
when importing/exporting goods for which there are declaration requirements;	no later than the date of submission of the customs declaration;
when importing/exporting goods for which there is no declaration requirement;	no later than 15 working days after the month in which the goods were imported;
when providing services for the transfer of information and results of intellectual activity;	not later than 15 working days after the month in which the services were rendered;
Making changes to the registered contract;
Changing the resident's data (legal address, name) within the framework of the registered contract;	application for amendments - no later than 15 working days after the date of execution of documents;

After the resident organization provides documents for the registration of the contract, the authorized bank opens for this contract Bank control sheet and assigns a unique number to the contract.

The term for registering the contract with the bank is 1 working day. The term for the provision of a unique number by a bank to a resident is 1 business day. Total: within two working days after the submission of all documents, the contract is registered with an authorized bank and a unique number is assigned to it, of which the bank notifies the organization in a manner agreed with the bank. In most cases, this happens by means of messaging through the client bank.

When transferring a service contract to another bank, residents do not receive a control sheet "in hand". She is now underway electronic. If, for some reason, the new authorized bank does not have a Banking Control Statement, then the contract will not be registered. In this case, you must contact the Central Bank of the Russian Federation.

8. Providing certificates of supporting documents

If the contract with a non-resident is subject to bank accounting, then it is also necessary to draw up certificate of supporting documents. A certificate of supporting documents is a type of a single form of accounting and a report on currency settlements, which is compiled by a resident of the Russian Federation. Its form is OKUD 0406010. It was approved by Appendix 6 to Instructions of the Bank of Russia dated August 16, 2017 No. 181-I.

Certificate is not issued contracted residents for an amount not exceeding 6,000,000.00 rubles for exports, and 3,000,000 rubles for imports. Also, the provision of certificates of supporting documents is not necessary for periodic fixed payments.

Together with the certificate, the bank is transferred and supporting documents themselves. The list of documents that confirm the fact of fulfillment of the obligations of the resident under the transaction is contained in paragraphs 9.1.1–9.1.4 of the Instruction and is determined taking into account the content and features of the specific commercial transaction.

So, when importing (exporting) goods supporting documents are customs declaration (or application for conditional release), as well as commercial, shipping, transportation or other similar documents. When performing work or providing services, acceptance certificates, invoices, accounting and other papers will serve as confirmation. If you are interested in separate accounting.

Help and documents must be submitted on time no later than 15 working days at the end of the month in which:

• on the documentation used as a declaration for goods, an authorized person of the customs authority put a stamp with a note on the date of their release;
• other supporting documents were issued.

Clause 9.4 of the Instructions allows the organization to conclude an agreement according to which the responsibility for issuing the SPD will be assigned to the servicing bank. Then the organization submits supporting documents and an application for a certificate.

Usually, the certificate is filled out and submitted via the Internet bank or the client-bank electronically. The bank will check it within 3 working days after its submission (if the certificate is issued for the goods declaration, then within 10 working days). The accepted certificate is sent to the organization no later than 2 working days after the date of its acceptance (the date of acceptance is indicated in the certificate).

If changes are made to the supporting documents, the certificate is filled out again and sent to the bank within 15 working days after the changes are made.

9. Responsibility for violation of the terms of currency control

For violation of the terms of currency control and other non-compliance with the law, liability is provided for under the Code of Administrative Offenses.

1. According to Art. 15.25 of the Code of Administrative Offenses of the Russian Federation, part 4.5 in the following cases:

• the resident did not provide the terms of repatriation in the contract
• money came but late
• funds have not been received

there is a penalty in the amount of:

• for individual entrepreneurs and legal entities in the amount of 1/150 of the key rate of the Central Bank of the Russian Federation for each day of delay and (or) from ¾ to the full amount of unreturned funds;
• for officials - from 20,000 thousand to 30,000 thousand rubles.

1. According to Art. 15.25 of the Code of Administrative Offenses of the Russian Federation, part 6 in case of violation of the terms:

• registration of the contract;
• deadlines for the provision of the Certificate of supporting documents;
• amendments to the contract, including in the event of a change in the data of a resident (legal address, name);

there is a penalty in the amount of:

• violation for no more than 10 days: an official for 500-1000 rubles, a legal entity for 5,000-15,000 rubles;
• violation for 10-30 days: an official for 2,000-3,000 rubles, a legal entity for 20,000-30,000 rubles;
• violation for more than 30 days: an official for 4,000-5,000 rubles, a legal entity for 40,000-50,000 rubles.

In general, the amendments to the law on currency control are intended, in the opinion of the Central Bank of the Russian Federation:

— to liberalize the current requirements of currency control;

— reduce the burden on residents in terms of processing currency control documents;

- reduce the grounds for bringing residents to administrative responsibility;

— simplification of the mechanism of interaction between residents and banks;

What do you think? Has the “new” Instruction of the Central Bank of the Russian Federation really simplified currency control for legal entities?

Currency control for legal entities: passage and documents