Reporting towards the Polish National Bank (NBP)

In Poland, there are a number of obligations concerning the submission of reports to the National Bank of Poland (NBP).

NBP reporting applies to residents (domestic entities) that conduct international foreign exchange transactions with non-residents (foreign entities), as well as to entrepreneurs engaged in foreign currency exchange activities. The Regulation of the Minister of Development and Finance of 9 August 2017 on the submission of data necessary for the compilation of the balance of payments and the international investment position to the National Bank of Poland identifies the following groups of entities required to submit reports to the NBP:

• entities from the public finance sector
• investment firms, as defined in the Act of 29 July 2005 on Trading in Financial Instruments
• natural persons holding assets or liabilities not related to business activity
• other residents

According to the regulations, the following are considered residents:

• natural persons residing in Poland
• legal persons with their registered office in Poland
• other entities based in Poland with legal capacity to incur liabilities and acquire rights in their own name
• branches, representative offices and enterprises of foreign entities operating in Poland

Residents whose total assets and liabilities exceed PLN 300 million at the end of the year are required to submit monthly reports on forms specified by the NBP, no later than 20 days after the end of each month.

Where the total value of assets and liabilities falls within the range of PLN 10 million to PLN 300 million, residents are required to submit quarterly reports to the NBP within 26 days after the end of each quarter.

According to § 8 of the Regulation of the Minister of Finance, residents who:

• have not reached the reporting thresholds at the end of the year or at the end of a given quarter (above or below PLN 300 million, respectively);
• hold foreign trade-related assets or liabilities with a total value exceeding PLN 3 million at the end of the year

are also required to submit quarterly reports to the National Bank of Poland within 26 days following the end of the quarter.