How currency control is implemented in 2022

If you concludethe contractwith a non-resident in the amount of more than 3,000,000 rubles, you have an obligation to transfer to the authorized bank information on the concluded contract, namely, the date of the contract, contract number, amount, data about the counterparty.

Until 01.03.2018, information about foreign economic currency transactions was taken into account in transaction passports.Transaction passportit was issued for each international contract worth more than $ 50,000. The currency control procedure was carried out in accordance with Federal Law No. 173-FZ and the Instruction of the Bank of Russia No. 138-I.

Since 01.03.2018, the transaction passport has been abolished since it came into forceInstruction of the Central Bank of the Russian Federation No. 181-I dated 16.08.2017, which establishes other requirements for the regulation of export-import operations.

The new rules changed the interaction with banks and accelerated settlements with counterparties, as a result, some changes occurred, several of them are listed below:

  • Documents began to be processed faster. Previously, it took 3 days + 2 days to send a transaction passport to a resident. At this hour, the bank registers the contract within one working day.
  • Registration refusals have been reduced. The requirements for filling out the contract have decreased, but it has become mandatory that the contract has a date for the fulfillment of obligations.
  • The threshold amount for control has been changed. Previously, it was $50,000. According to the new rules, transactions after 3,000,000 rubles are subject to registration, which of course is worse than it was before.
  • The burden of currency control on the credit institution has been redistributed. This reduces the risk of fines being imposed on the participantForeign economic activity.

How are foreign trade contracts controlled now

Instead of issuing a transaction passport, banks now register a contract and assign it to it  UNC -unique contract number, in fact, this is the same set of numbers that was in the transaction passport. The UNC number is encoded, pointing to the desired part of the number you will see hints with explanations. XX XX XXXX / XXXX / XXXX / H / H

All transactions are subject to currency control, but the reporting procedure differs depending on the type and price of the contact.

If the import or export contract does not exceed600,000 rubles, it is not necessary to register and provide its original to the bank. A certificate of a currency transaction is also not required, it is enough to provide a code, but some banks still ask for a certificate to be issued to foreign trade participants, as this is a convenient unified form of providing data to the bank. However, the bank has the right to request documents if suspicions arise or it receives a request from the Central Bank.

For import and export contracts ranging from600,000 rublesup to 3,000,000 rubles, a unique number is not assigned. It is necessary to send to the bank any document that allows you to put down the transaction code. It can be a contract, an appendix to the contract,invoice, act, invoice, other documents on the transaction. It is better to clarify the specific list in the servicing bank.

Export contracts in the amount of3,000,000 to 10,000,000 rubleshave similar requirements. A contract or other document is submitted to the bank, but the contract is not registered.

Import contracts in the amount of 3,000,000 to 6,000,000 rubles and credit contracts, registration is mandatory for them, you must provide the original contract to the bank. After the transaction is completed, the company's accountant must preparecertificate of supporting documents - SPD. In case of import of goods, it is enough to specify the declaration number in it

The following documents may be included in the SPD:

  • declaration of goods, application for conditional release;
  • transportation, shipping documents;
  • acceptance and transfer certificates, invoices;
  • other commercial, accounting documentation.

The certificate of supporting documents is issued within 15 days after the last day of the month in which the date of their release is marked on the documents used as a customs declaration.

For import and export contracts over 6,000,000 rubles, registration and assignment of UNK as well as submission of SPD are a prerequisite. The requirements are the same as for contracts of more than 3 million rubles for imports.

The procedure for registering contacts and maintaining it

  1. An application for registration of the contract is made in the form of a bank.
    • A resident must register a currency transaction agreement within the following time limits
      • Crediting currency from a non-resident -15 working days from the date of enrollment
      • Write-off in favor of a non-resident -Before the date when the order for write-off is provided
      • Settlements via a resident's account in a non-resident bank -30 days after the month when the funds are debited and credited
      • Import, export of the declared goods -At the time of submitting the declaration to the customs authority
      • Import, export of undeclared goods -15 days from the last day of the month in which the supporting documents were submitted
      • Performance of works, provision of services, transfer of intellectual activity results -15 days after the end of the month when the documents are issued
      • Other cases -By the terms of the provision of SPD
  2. The Bank checks the documents and registers the contract within 1 business day. It takes another 1 day to assign a unique number to the agreement.
    • Several UNCs can be assigned to one contract if it contains the terms of different currency transactions - for example, there are signs of a loan agreement and a supply agreement.
    • The Bank also opens a bank control statement for the contract and stores it electronically.
  3. The Bank notifies about the assignment of the UNC - usually by a message in the personal account. From this moment, you can start working on the contract.
    • When the transaction is completed, the foreign trade participant reports to the bank with closing documents.