Financial transparency is now the norm across most of the world. For Revolut users – whether for everyday spending, transfers, or investing – the question that follows naturally is a simple one.
Does Revolut report to tax authorities?
Yes. Under the Common Reporting Standard (CRS), Revolut is required to share account data with tax authorities internationally.
What does that mean in practice? Which data is shared, how does the process work, and what does it change about your own obligations?
Below we cover Revolut’s CRS reporting duties and what they mean for you.
One point worth stating upfront: reporting is not the same as taxation. CRS means your account information reaches your tax authority automatically; it does not mean tax is withheld or that your return is filed for you. Declaring income and gains remains entirely your responsibility.
What is CRS reporting?
The Common Reporting Standard is a framework developed by the OECD to combat tax evasion – specifically, people holding assets in foreign accounts to avoid declaring them. It requires banks and financial institutions to share customer account information with tax authorities annually.
How it works:
- Revolut collects your information: when you open an account you provide your name, address, and tax identification number. Revolut also records your year-end balance on 31 December, gross proceeds from sales, interest, dividends, and other income;
- Data goes to the Lithuanian tax authority: once a year, typically by 30 June, since Revolut’s European entities are Lithuanian-registered;
- Lithuania shares it onward: the information is transmitted to the tax authority of your country of tax residence.
You do not need to initiate any of this – it happens automatically between Revolut and the authorities.
Does Revolut participate in CRS reporting?
Yes. Revolut operates through Lithuania, which participates in CRS, so its subsidiaries Revolut Bank UAB and Revolut Securities Europe UAB are both subject to it.
Revolut Ltd, registered in England and Wales, is covered by the equivalent United Kingdom rules.
Revolut’s website includes a FATCA/CRS declaration section covering this.
What information does Revolut report?
Revolut does not choose what to share – CRS specifies it. The reported data covers:
- Account number;
- Name;
- Full address;
- Date of birth;
- Tax identification number;
- Country of tax residence;
- Year-end account balance;
- Gross proceeds from sales, interest income, dividend income, and other income.
Can I access my CRS report in Revolut?
No. We contacted Revolut support to confirm, and the response was clear:
“Individual access to CRS reports is not provided by Revolut. These reports are automatically exchanged between jurisdictions and are not typically shared with individual customers.”
You can, however, download your annual tax statement from the app, which contains the transaction detail you need for your own return. That is a different document from the CRS submission, though the underlying data overlaps.
Still, there are other platforms like Interactive Brokers that allow you to access your CRS:
Which countries are affected?
Over 120 jurisdictions participate in CRS, including every EU member state, the UK, China, India, and Hong Kong.
The United States is the notable exception. It sits outside CRS, operating its own regime through the Foreign Account Tax Compliance Act (FATCA), which requires foreign financial institutions to report on assets held by US persons.
Since Revolut operates within CRS jurisdictions, account holders are automatically covered.
How to file your Revolut taxes
Each year you must declare the previous year’s earnings. Investments across savings, shares, ETFs, and cryptocurrencies may generate income or capital gains – particularly where you receive dividends or sell an asset above its purchase price.
Revolut provides an annual tax report to help, but you must enter the transactions into your national tax system yourself. With many transactions, that can take hours.
One option is Tax Wizard, which takes your Revolut annual report and generates a consolidated file you can use for your return.
Two points worth knowing. Losses can usually be offset against gains, so declaring loss-making disposals alongside profitable ones may reduce your liability – people frequently omit these to their own cost. And because CRS means your authority already holds your balance and income data, discrepancies between what you declare and what they receive are visible. Accuracy matters more than it once did.
How CRS reporting differs from FATCA
| Information | CRS | FATCA |
| Who created it? | Developed by the OECD | Enacted by the US government, administered by the IRS |
| Who does it apply to? | Residents of over 120 participating countries, excluding the US | US citizens, US residents, and certain non-US entities with US ownership |
| Purpose | Preventing tax evasion globally by requiring institutions to share account data with tax authorities | Preventing US taxpayers from concealing assets and income in foreign institutions |
| What is shared? | Name, address, account balance, income, and country of tax residence | Comparable data: balances, income, and US taxpayer identification |
| Who receives the data? | The tax authority of the account holder’s country of residence | The IRS, directly from foreign financial institutions |
| Which institutions must report? | Financial institutions in participating CRS jurisdictions | Foreign financial institutions serving US persons |
A practical difference worth noting: CRS reports to your country of residence, while FATCA reports to the US based on citizenship. US citizens living abroad therefore remain within FATCA scope regardless of where they live – a distinctive feature of the US system.
How does CRS reporting affect Revolut Business accounts?
CRS applies to business accounts as well as personal ones. Institutions must report on business accounts where the account holder or its controlling persons – typically owners and significant shareholders – are tax resident in participating countries.
In practice:
- Information collected at onboarding: business details, country of incorporation, and the tax residence of both the entity and its controlling persons;
- What gets reported: business name and identifying details, account balances, and the tax residence of the entity and its controlling persons;
- Cross-border businesses: where a company operates internationally or has owners in several countries, the tax residence of the entity and its controlling persons determines where the information is reported. An account can therefore be reported to more than one jurisdiction.
The controlling persons requirement is what most often surprises business owners: your own tax residence is reported alongside the company’s, not instead of it.
Bottom line
Revolut does report to tax authorities under the Common Reporting Standard, covering both personal and business accounts held by tax residents of participating countries. Any investment income or gains – including from Revolut’s trading service – must be declared to your national authority.
The practical implication is straightforward: your tax authority already receives your balance and income data automatically. Declaring accurately is therefore both simpler and more important than it may once have seemed.
Note that this article is informational and does not constitute tax advice. Rules vary considerably by country, so consult a qualified professional about your own position.
Questions? Feel free to reach out to us.
