Starting from the beginning of 2017, it became mandatory for individuals to report foreign transaction accounts. This means that all personal accounts (transaction accounts) held by individuals at financial institutions abroad need to be reported, regardless of whether they are actively used or receive transfers.
Savings accounts and online services or accounts like Paypal and Skrill, where taxable income isn't received, are exempt from this requirement.
So – in summary, when do you need to report:
a) When it's an actual transaction account with an IBAN number
b) When such an account is held at a financial institution
However, there's another important condition that triggers the reporting requirement:
c) Receiving taxable income into the account
This means that regardless of whether the account meets conditions a) and b), in case of c), the account must still be reported. This implies that even if it's a savings account and the individual receives taxable income there (e.g., interest above €1,000), such an account generally needs to be reported. The same applies to various online accounts and services (Paypal, Skrill, Payoneer, etc.). In this context, it's crucial to note that accounts without IBANs (like Paypal) cannot be reported. What to do in such cases? They aren't reported, but the financial transactions are still properly recorded in accounting.
Foreign accounts are reported using Form: DR-02 (Application for Registration of an Individual in the Tax Register).
So – generally, foreign accounts need to be reported, with a few exceptions. A common misconception is that certain accounts don't need to be reported at all. However, this is not true if any taxable income is received into such an account. Since some accounts cannot be reported, it's crucial that transactions on these accounts are appropriately recorded in accounting.
The development of DigiAce is co-financed by the Republic of Slovenia and the European Union from the European Regional Development Fund.
The development of DigiAce is co-financed by the Republic of Slovenia and the European Union from the European Regional Development Fund, with a financial support of EUR 54,000 under the P2 2022 call.
 The aim of DigiAce is to automate the import of statements and transactions when dealing with FinTech providers. This promotes the transition to digital and more efficient business operations and encourages the recruitment of high value-added staff.
Short description of the results of the operation:
The operation has developed, refined and commercialised a web application for the conversion of business data through FinTech providers and its direct import into accounting and ERP software. In addition, we have developed and integrated the Bankconnect module, which allows a significantly simplified direct retrieval of bank statements also from traditional banks. Within the project, we have prepared the basics for building an API interface for more modern integration with other applications. In addition, the project implemented a number of other solutions, such as integration with the CRM system, integration with the payment and subscription system (Stripe) and a multilingual website - including a back-end multilingual interface (application).