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Reporting towards the Polish National Bank (NBP)

A number of obligations exist in Poland with regard to submission of reports to the National Bank of Poland (NBP). These requirements apply to entities having their registered offices in Poland, and Polish branches of foreign companies engaged in foreign-exchange turnover with other countries, or having their assets/liabilities expressed in foreign currencies.

Under foreign exchange laws, the following entities have an obligation to submit reports to the National Bank of Poland:

  • all investment companies – they must submit their monthly reports by the 20th day of the end of the month concerned;
  • other entities (private individuals conducting a business activity, and legal entities) if the combined value of their assets and liabilities in foreign currencies is the equivalent of:
  1. at least 300 million PLN – they must send monthly reports submitted by the 20th day of the month following the month concerned;
  2. over 10 million PLN – they must send quarterly reports submitted by the 20th day of the month following the end of the quarter concerned.

Even if the above specified thresholds are not exceeded, if the value of receivables and payables related to foreign trade is at least 3 million PLN, a separate report must be submitted to the National Bank of Poland in this respect, not later than on the 20th day of the month following the end of the quarter concerned.

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