Under the Federal Law, resident legal entities must notify the Bank of Russia in case they or their subsidiaries (including those established in accordance with legislation of foreign countries and located outside the Russian Federation) receive funds from non-residents payable under agreements (contracts), or in case obligations of non-residents under such agreements (contracts) are discharged or terminated otherwise, and must also provide information about foreign currency denominated assets or obligations payable to non-residents by such residents and/or their subsidiaries in the Russian Federation currency and/or foreign currency, and about the obligations of non-residents to such residents and/or their subsidiaries.
The Federal Law also obliges resident legal entities that constitute one international group of companies with non-resident legal entities to notify taxation authorities about opening/closing accounts/deposits and about any changes in the details of accounts/deposits of such non-resident legal entities in banks or other financial institutions located outside the Russian Federation.