You do not list finish dates. You only declare, retrospectively the date when an account was closed. Since this account has not been closed (because it has the same account number, therefore it is recorded as the same account - there could not be two different accounts with the same number), presumably you have never declared it closed. Where is the problem?
My simple logic is that if France wanted a list of institutions with whom you hold accounts, it would ask for a list of institutions. The fact that it asks for a list of accounts, strongly suggests to me that it wants a list of accounts. Or at the very least, that your back is better covered if you provide a list of accounts.
I cannot help thinking that unless you have hundreds of accounts you could have filled in a form for each in far less than the time you have devoted to trying to find reasons not to and think up problems. Each form only takes a couple of minutes once you get into the swing.
Thanks Sandcastle, it isn’t a question of saving time (I agree, it doesn’t take very long) it’s a question of doing it properly.
My question suggested that a fixed term deposit that reached the end of its term perhaps should be declared as closed, even if it was re-invested with another fixed term with the same number. Perhaps not as you suggest…
I think it depends whether you buy the same product again, or a different product.
A few bond ‘products’ continue to be offered year after year, and if on expiry you replace it with the same ‘product’, it is not a new account.
But existing products are constantly being withdrawn and new ones introduced with different names, often the name will include an issue number and this will change so XXX issue 4 will change to XXX issue 5 etc. The new product may be almost identical to the previous but if your account is issue 4, it cannot become issue 5. So if when your bond expires that product has been withdrawn and replaced by a new one and you buy the replacement product, or if you decide to change to a completely different product that suits you better (two years instead of one year or whatever) it will be a new account,
That is my impression. based on what I have noticed with the one UK institution I have savings with. Sometimes I get a new account when I reinvest, sometimes I do not and the repayment/reinvestment simply shows as a transation on the existing account.
If you manage your accounts online, it is easy enough to see whether it is a new account i.e. the only transaction on it is the opening investment you just made, or whether it is the same account showing your transaction history going back years prior to the new investment. They are not interested in transactions or maturity dates, just the existence of the account.
Thanks. I’m not even sure if a fixed term deposit can be called an “account”?
Anyway, I guess we can all agree that if it has a number, it is an account, and if the new fixed term deposit (or whatever type of account it is) continues with the same number, it doesn’t need to be declared as a new account (as you suggested above). I’ll go along with that as a good response. Thanks.
You declare all accounts whatever they are called. When you fill the form in, you specify which type of account it is. You would categorise a fixed term deposit account as a compte à terme.
Be careful. Do NOT try to fill in form 3916 FIRST, to get it over with .
This from another source
"If it is not your first time, your bank accounts outside of France are already listed BUT wait until
you get to tick box 8UU before you go onto form 3916 or you will lose them all!! "
You will lose ALL the info you entered last year and have to re-enter it
. And if you didn’t make a separate note of account opening dates, you will have to re-find that info. If you made up some of the dates, as I did, you will have to try to remember all of your made-up dates. I could not, of course, and had to just make them up again. Hopefully that never comes back to bite me.
Having multiple accounts did not mean you were rich… We had many accounts. The reason being, if you remember, when the interest rate fell after the financial crisis, banks were offering a better rate for new clients on the fist £1500 , so if you had 15 thousand pounds savings you had to open 10 accounts.
Do 3916 last is my advice.