# Foreign bank account reporting **URL:** \ **Category:** 🤝 Help\ **Created:** [May 1, 2020, 1:26pm UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673 "2020-05-01T13:26:08Z")\ **Posts on this page:** 7\ **Page:** 2
**Author:** ![Mike\_Rosoft](https://dub1.discourse-cdn.com/flex013/user_avatar/community.trading212.com/mike_rosoft/32/11748_2.png) [@Mike\_Rosoft](https://community.trading212.com/u/Mike_Rosoft)\ **Post date:** [January 19, 2021, 6:11am UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/21 "2021-01-19T06:11:52Z")
Correct me if I’m wrong…for non-UK customers from the rest of Europe, shouldn’t the authorities tax only the money you withdraw into your personal bank account? I’m also new to this and I would like to take action as soon as possible. I read somewhere else on the forum that money made from a “sell” transaction is also taxable. How legal is daytrading on this platform? ---
**Author:** ![ppt2](https://avatars.discourse-cdn.com/v4/letter/p/f475e1/32.png) [@ppt2](https://community.trading212.com/u/ppt2)\ **Post date:** [January 19, 2021, 6:59am UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/22 "2021-01-19T06:59:04Z")
> Correct me if I’m wrong…for non-UK customers from the rest of Europe, shouldn’t the authorities tax only the money you withdraw into your personal bank account? I’m also new to this and I would like to take action as soon as possible. I read somewhere else on the forum that money made from a “sell” transaction is also taxable. How legal is daytrading on this platform? Hi Mike, be assured that day trading on this platform is perfectly legal, even if you reside outside of the UK. However every user has duties in relation to the tax authorities in the country where they reside. In my country, these duties consist of: - Declaring all accounts that I have outside of my home country. - Dully reporting dividends. - Dully reporting gains / losses on selling stocks. - Reporting potential gain on holding and selling currencies (this one is less documented, however should be included) There is a lot of information on the internet on how to do this, for example for France, this site is a good summary. [https://culturefinanciere.com/declarer-les-gains-dun-compte-titres-ouvert-a-letranger/](https://culturefinanciere.com/declarer-les-gains-dun-compte-titres-ouvert-a-letranger/) ---
**Author:** ![Richard.W](https://avatars.discourse-cdn.com/v4/letter/r/b782af/32.png) [@Richard.W](https://community.trading212.com/u/Richard.W)\ **Post date:** [January 19, 2021, 7:35am UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/23 "2021-01-19T07:35:38Z")
> [@Mike\_Rosoft](#): > > shouldn’t the authorities tax only the money you withdraw into your personal bank account? I don’t know of any county that has tax liability organised on this basis. If anyone does please share. The general principal is that where gains are taxed then that liability is created at the time an asset is sold irrespective of where the proceeds are subsequently located or how spent. ---
**Author:** ![richeekdey](https://avatars.discourse-cdn.com/v4/letter/r/c77e96/32.png) [@richeekdey](https://community.trading212.com/u/richeekdey)\ **Post date:** [January 26, 2021, 4:14pm UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/24 "2021-01-26T16:14:27Z")
I believe so too. I did what you mentioned btw. And for now, that’s that. I also got into (or I think anyway) some trouble with the TOB tax as I didn’t even know about it and TD212 does not mention/show it anywhere. But that’s for another time. ---
**Author:** ![Moul](https://avatars.discourse-cdn.com/v4/letter/m/ea666f/32.png) [@Moul](https://community.trading212.com/u/Moul)\ **Post date:** [January 26, 2021, 4:44pm UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/25 "2021-01-26T16:44:15Z")
No indeed, the TOB is not taken care of by Trading 212, as it is not a Belgian broker. You have to report and pay it to the authorities yourself. Note however that the TOB is due by the end of the second month following the reference month, e.g. the TOB for January 2021 has to be paid by the end of March 2021 at the latest. If you have been buying and selling shares since Feb 2020, you are liable to pay the TOB since the end of April 2020. In case of late payment, interests and fines may be applied. Though a spontaneous payment, although it is late, is generally fine for the authorities if you were in good faith not aware of the TOB. ---
**Author:** ![richeekdey](https://avatars.discourse-cdn.com/v4/letter/r/c77e96/32.png) [@richeekdey](https://community.trading212.com/u/richeekdey)\ **Post date:** [January 29, 2021, 10:29am UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/26 "2021-01-29T10:29:51Z")
Yeah. They responded with an automated message about acknowledging my payment. Hoping that’s the end of it. ---
**Author:** ![atkin](https://avatars.discourse-cdn.com/v4/letter/a/87869e/32.png) [@atkin](https://community.trading212.com/u/atkin)\ **Post date:** [February 27, 2025, 4:29am UTC](https://community.trading212.com/t/foreign-bank-account-reporting/5673/27 "2025-02-27T04:29:57Z")
Has anyone just left any payment to revenue to see if they contact you and what your tax bill is ? My statement is confusing profit,realised and unrealised gains which to use ? In Ireland it is accessed after 8 years and your are liable on the amount of gain if sold .tax is 41 percent . [Previous page](https://community.trading212.com/t/foreign-bank-account-reporting/5673.md?page=1)