What is Schedule J of the IRS?



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Those Portuguese who use payment services or applications, such as Revolut, or who have accounts in digital banks, such as the N26, have to declare the existence of these accounts in their IRS, according to the Ministry of Finance.

Here are answers to frequently asked questions:

I created my account at Revolut in 2019. Do I have to file for IRS?

  • – Yes, but only next year.

Why do I have to declare my IRS accounts?

  • – It is mandatory to declare the existence of bank accounts held abroad.

I do not receive income from my Revolut account. Do I have to declare it?

  • – Yes, because it has to be declared the existence of accounts held abroad. Regardless of whether you get there income or not. The Revolut account includes an assigned IBAN.

Will it affect my refund?

"No. It's merely information you give to the Tax Authority.

What information do I have to provide?

  • – You must declare your IBAN number.

Where can I find the information to be declared to the tax authorities in the application of Revolut?

  • – Just click on your balance and the IBAN number you need to declare to the tax authorities.

How do I declare the Revolut account?

  • – Fulfill table 11 of Annex J.

I have already submitted my 2018 IRS statement without attachment J. How do I do it now?

  • – You can submit a replacement statement with the missing attachment.

Will IRS delivery with Annex J still be automatic?

  • – No, the manual declaration will have to be delivered.

Does my son have an account with Revolut? Do I have to file it on my IRS?

  • – If your child is your dependent, yes, you need to testify. You must declare all foreign accounts held by members of your household.

If you still do not know: What is the Revolut account?


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