4.1.1 Deposits in Norwegian banks

Item 4.1.1 Applies to the tax year 2016

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This item shows what deposits you and your children who are under 17 years of age at the end of the income year have in Norwegian banks as of 31 December. Deposits belonging to children under 17 will be split with half being assigned to each of the parents if they live together. The amount will normally be pre-filled with the amount that has been reported, so you should check that everything is correct.

Does this item concern me?

The item concerns everyone who:

  • has bank deposits in Norwegian banks and/or who
  • is the parent of a child under 17 years of age at the end of the income year and who has bank deposits in Norwegian banks.

Foster parents

If you are a foster parent and do not receive an allowance, it will also apply to you.

If you do not live with the child's mother/father

If a child's parents do not live together, it is the parent who the child lives with according to the National Registry at the end of the income year who must enter the necessary information on the deposits.

If the child is living with you and you are married, the child's deposit will be split between you and your spouse. If your spouse is not the child's biological parent, they can transfer the entire deposit to you. 

How do I enter this in my tax return?

The item will normally be pre-filled with your deposit amount as of 31 December. The amounts are based on what was reported by your bank(s), so you should check that everything is correct.

The amounts you should perform the check against will be shown in the annual statement you receive from your bank(s) in January.

If the amount shown is wrong, you must change it in the tax return. You should also contact your bank to ensure that the annual statement is correct.

Information is missing

If any information is missing, you must enter the name of the bank, the deposit amount, interest income and the reason why you are changing the item.

Distribution of deposits between joint owners

Even if you have a joint bank account with other people, it will only be reported by the bank for one person. You must distribute interest income according to share of ownership, but both parties must change their returns so that the total is the same. You must change or add the name of the bank, the deposit amount, interest income and the reason why you are changing the item.

Distribution of deposits between spouses and spouse-equivalent spouses

Spouses and spouse-equivalent spouses can split deposits freely between themselves, but the actual distribution rarely has any effect because the negative capital of one spouse is transferred to the other if he or she has positive capital. If you wish to change the distribution, both of you must change it in your tax returns.

Children's bank deposits

If you have children aged under 17 who have a bank account, the child's bank deposits will be split 50/50 between the parents when the parents are living together as of the end of the income year. The parents can split the amount freely between themselves.

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Documentation requirements

You do not need to send us any documentation for this, but you must be able to present documentation if we ask for it.

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