China Postal Savings Bank International Payment Declaration

I. What is the indirect declaration of balance of payments statistics?

Indirect declaration of balance of payments statistics refers to the declaration of balance of payments statistics made by individuals or units engaged in foreign economic exchanges through banks and other financial institutions in China.

Second, why should we declare balance of payments statistics?

The declaration of balance of payments statistics is an important data source for compiling the national balance of payments statement and the international investment position statement, and it is also an important basis for the state to formulate monetary policy and exchange rate policy. According to the provisions of the national foreign exchange management policy, domestic individuals or units handling overseas receipts and payments through banks and other financial institutions must make indirect declaration of international payments through trading banks.

3. What foreign exchange businesses do customers need to declare balance of payments statistics at China Postal Savings Bank?

(1) reporting entity

Cross-border remittance transactions between domestic individuals and overseas individuals through China Postal Savings Bank shall be declared indirectly by domestic parties through China Postal Savings Bank.

Domestic foreign exchange receipts and payments between overseas individuals and domestic individuals through China Postal Savings Bank shall be declared indirectly by domestic individuals through China Postal Savings Bank.

(2) Scope of application

(1) For inward remittance, the amount of foreign-related personal income equivalent to less than $2,000 (inclusive) shall be subject to quota declaration, that is, the payee may be exempted from filling in the "foreign-related income declaration form", but the amount of foreign-related personal income related to trade exports and overseas individuals shall not be subject to quota declaration.

(2) Remittances, whether overseas individuals or domestic individuals, customers should declare them one by one; If the remittance is returned, the balance of payments shall be declared according to the relevant provisions on inward remittance.

4. How do customers apply for indirect declaration of balance of payments?

Individuals who meet the declaration conditions of international payments should fill in the declaration form and declare the international payments one by one when handling cross-border remittance business at the business outlets of China Postal Savings Bank.

(1) Remittance: Western Union customers fill in the "Western Union Remittance Application Form" for remittance, and fill in the "Overseas Remittance Application Form" for declaration; Except Western Union, other remittance customers fill in the "Application for Overseas Remittance" for remittance declaration.

(2) Remittance: All remittance customers fill in the "Application Form for Receiving Foreign Exchange" to collect foreign exchange, and fill in the "Declaration Form for Foreign-related Income" to declare.

(3) Remittance: China Postal Savings Bank will notify the payee by phone or SMS the day after the remittance is recorded, and the customer will go to the account opening branch of China Postal Savings Bank within 5 working days from the date of receiving the payment, fill out the Foreign Income Declaration Form and make a declaration as required.

5. What should I pay attention to when filling out the declaration form?

Customers should fill in all the contents of the declaration form completely and accurately as required, so as not to miss, miss, miss or report late. Pay attention to the following items when filling in the declaration form:

(1) All items are filled in by customers except the information such as "customs declaration number".

(2) The "balance of payments transaction code" shall be accurately filled in by the customer according to the balance of payments transaction code table compiled by the State Administration of Foreign Exchange and the transaction nature of foreign-related income or external payment.

(3) The nature of the foreign-related revenue and expenditure transaction filled in the "Transaction Postscript" shall be consistent with the transaction content corresponding to the transaction code.

(4) Fill in the country or region where the payee/payer is located in the "country where the payer is located".

6. What are the violations of the declaration of balance of payments statistics?

According to the national foreign exchange management policy, the irregularities in the declaration of balance of payments statistics include:

(1) Failing to declare the balance of payments;

(2) Failing to fulfill the obligation of information transmission and reporting in accordance with regulations;

(3) Misreporting, concealing or misrepresenting balance of payments transactions;

(4) Acts of obstructing, obstructing or destroying the verification of the declaration information of the balance of payments.

7. What will happen if the balance of payments statistics are not reported in time as required?

For the payee who fails to declare foreign-related income as required within the prescribed time limit, when receiving the money from abroad within 3 months from the date of the expiration of the declaration period, he must first go through the supplementary declaration procedures for all undeclared foreign-related income, and the bank can go through the formalities for understanding the payment of foreign exchange for him after being confirmed by the local foreign exchange administration.

Therefore, if the payee fails to declare the remittance within the prescribed time limit, the money will not only be recorded in time, but also bring interest losses. At the same time, for those who fail to declare the balance of payments in accordance with the regulations, the foreign exchange administration authorities will order them to make corrections and give them a warning, and may impose a fine of less than 300,000 yuan on institutions and 50,000 yuan on individuals.