Editorial article for February 20, 2021
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The Government has just published a decree taken for the application of article 1649 AA of the CGI and modifying the provisions of article 344 C of appendix III to the CGI in order to specify the content of the declarations of capitalization contracts or investments of the same nature, in particular life insurance contracts, taken out outside France.
As a reminder, article 1649 AA of the CGI establishes a declaration obligation for individuals who take out capitalization contracts or investments of the same nature, in particular life insurance contracts with organizations mentioned in I of article 1649 ter of the CGI which are established outside of France.
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Subscribers are required to declare at the same time as their income tax return, the references of the contracts and investments concerned, the effective date and duration of these contracts or investments, the operations of reimbursement and payment of premiums carried out during the the previous year and, where applicable, the surrender value or the amount of guaranteed capital, including in the form of an annuity, on January 1 of the year of the declaration.
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Article 344 C of Annex III to the CGI further specifies that the declaration, drawn up on plain paper and attached to the income tax return, must indicate for each contract:
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the identification of the subscriber: surname, first name, address, date and place of birth;
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the address of the head office of the insurance body or equivalent and, where applicable, of the branch granting the cover;
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the name of the contract, its references and the nature of the risks covered;
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the moment from which the risk is guaranteed and the duration of this guarantee;
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the effective dates of amendments and of total or partial unwinding operations occurring during the calendar year.
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The published decree modifies the provisions of article 344 C of appendix III to the CGI in order to specify the content of the declarations of capitalization contracts or investments of the same nature, in particular life insurance contracts, taken out outside France.
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