Published: 09.04.2026
Portuguese tax residents must identify foreign bank and investment accounts in their IRS return, even when the accounts generated no income. Reporting the accounts is informational and does not itself create a tax charge, but income from them must also be declared.
After relocating, holding a foreign bank or investment account does not exempt a Portuguese tax resident from identifying it in the IRS return. The rule covers accounts at foreign banks, digital banking services, and investment platforms; the return records account identifiers rather than balances. No separate tax is charged merely for reporting the account, but interest, dividends, and capital gains must be declared. This is particularly relevant to new residents who retain foreign accounts or use fintech services, and should be considered when preparing the annual tax return.
- 🏛️ oe.gov.pt