Item 4.1.9

4.1.9 Deposits in foreign banks (RF-1231)

Applies to the income year 2017

Under this item, you must enter the deposits you and your children under 17 years of age have in foreign banks as of 31 December. Deposits belonging to children under 17 will be distributed with half to each of the parents when they live together. Form "RF-1231E Deposits in foreign banks" is used to provide information.

Does this item concern me?

The item concerns everyone who:

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

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

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 share.

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

Rates and key figures

The value of the deposit must be converted to Norwegian kroner. Use Norges Bank's bid rate.

How do I enter this in my tax return?

Under this item, you must enter the sum of the deposits listed in RF-1231. The value of the deposit must be converted to Norwegian kroner. Use  Norges Bank's bid rate. When you submit electronically, the amount under item 4.1.9 will be automatically transferred from form RF-1231.

Interest on income must be entered under item 3.1.11.

Documentation requirements

When you have bank deposits abroad, form RF-1231 must be completed and enclosed with the annual statement from the bank/savings institution.

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