laws-legal-documents-sending-money-to-france

Tax guidelines and regulations for large money transfers into France

Learn what you should know about taxes when sending large sums to France.

Whether you're helping out a loved one, paying your fees for studying abroad or putting down that payment for your Parisian pied-à-terre, getting your large money transfer to France is the easy part.

What comes after is something no one can avoid: the laws and legal paperwork that go along with transferring large amounts of money. Before you move your money out of Australia, get familiar with France's remittance laws and regulations.

How France regulates large remittances

Gift taxes are just one part of France's complicated inheritance laws, which are generally based on your relationship to the beneficiary of your gifts of cash or property. In France, children and spouses are considered equal "protected heirs", which limits how much you can legally give each.

It's possible for your French family to receive one-off gifts of cash tax free. These amounts range from $115,000 to children to about $35,000 to grandchildren and $18,000 to siblings.

Note that inheritance laws may not apply to remittances sent from another country. But given the complexity of these laws, which are deeply entrenched in legal requirements and exclusions, your loved ones will benefit from an expert in French laws when receiving large amounts of cash.

What are the penalties for not filing a large remittance?

French citizens are required to submit a déclaration des revenues each year. If your recipient fails to declare a large remittance on their tax returns, they could be on the hook for stiff financial penalties equal to 5% or more of the remittance amount. If the government determines that they've wilfully ignored the law, tax penalties can soar to a severe 50% or more.

French banks are required to record the source of large transfers and report any suspicious deposits to the government. Encourage your family and friends in France to declare any large remittance on their general tax returns.

Do I have to report large transfers out of Australia?

You won't have to report any amount of money you send to France. If the transfer is above $10,000, or it's classed as "suspicious", your bank or money transfer company automatically reports this to AUSTRAC (Australian Transaction Reports and Analysis Centre). This is the government agency set up to monitor financial transactions and to help prevent money laundering.

Find out more about sending money into Australia

How will my loved ones receive my remittance in France?

Your options for sending money to France include bank-to-bank transfers, cash pickups and transfers to mobile wallets.

If picking up your money in person, your loved ones may need to submit government-issued ID or a transaction confirmation number to prove they're your intended recipient. For electronic transfers, they may not need to submit any information at all.

Confirm with your bank or independent money transfer provider the exact information your friends and family might need to receive your funds.

As with all international money transfers, be wary of potential fraud and only send money to people you know. Using a reputable provider can safeguard you from potential scams.


DISCLAIMER: This article is general advice. It does not consider your own personal circumstances and may not be applicable to you. You should obtain professional advice and consider your own situation before acting on anything contained in our article.


Compare providers for your next large transfer to France

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
AUD 250 1 day AUD 0.00 0.609 EUR
6,086
Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.
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AUD 200 1 day AUD 0.00 0.608 EUR
6,082
TorFX guarantees to match any competitor's exchange rate. Conditions apply.
Send money overseas in 30+ currencies with competitive rates for transfer amounts over $2,000.
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AUD 2,000 1 day AUD 0.00 0.609 EUR
6,087
Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.
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AUD 250 1 - 2 days AUD 0.00 0.609 EUR
6,086
$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.
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AUD 1 1 day AUD 0.00 0.605 EUR
6,052
With global payments provider XE, enjoy fast and secure transfers and a range of foreign currency tools and calculators while benefiting from $0 transfer fees. Go to site Show details
AUD 3,000 1 day AUD 0.00 0.609 EUR
6,089
Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.
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AUD 5 1 - 2 days EUR 3.00 0.605 EUR
6,051
Special offer: Pay zero fees on your first 5 transfers.
Get bank-beating exchange rates and fast transfer times on 15+ popular currencies.
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AUD 1 Within an hour AUD 3.99 0.604 EUR
6,037
An online money transfer service with cash pickup, bank account to bank account and airtime transfers available. Go to site Show details

Compare up to 4 providers


The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.

Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.

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Logo for Global Reach (formerly FC Exchange) International Money Transfers
Global Reach (formerly FC Exchange) International Money Transfers

Global Reach will match any competitor's exchange rates. Conditions apply.
No transfer fee when transferring more than £10,000 or equivalent. Send money in over 130 currencies. No maximum transfer amount.

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WorldFirst International Money Transfers

Better exchange rates for Finder customers.
Send 60+ currencies at competitive rates and no fees. If you find a better eligible quote, WorldFirst will beat it.

Logo for SendFX International Money Transfers
SendFX International Money Transfers

Sign up through Finder and get a $50 Myer gift card when you send $10,000 or more. T&Cs apply.
SendFX guarantees to match any competitor's exchange rate. Fee-free transfers in 30+ currencies to over 200 countries.

Logo for OFX (Ozforex) International Money Transfers
OFX (Ozforex) International Money Transfers

$0 transfer fees for Finder customers.
No-maximum limit transfers with competitive exchange rates for 100+ currencies. No transfer fee over AUD$10,000.

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