How to request the average annual balance
Same thing for the average annual balance of the years 2020 and 2019.
If you need your average annual balance for a year prior to 2019, please contact our Customer Service team via chat.
Why do I need it?
The average annual balance is used to fill out the ISEE form, report your N26 bank account with a German IBAN to the Italian tax authorities when this balance is greater than 5.000€, prove your creditworthiness, and access programs or receive special benefits from the Italian government based on your financial situation.
You can request the ISEE form by filling out the DSU form, which is essential for accessing some of the tax breaks offered by the Italian government.
The value of the average annual balance, which is self-certified by the bank account holder without the need for paper documentation, must be entered in the FC.2 section of the ISEE form, under “bank and postal accounts and deposits”. You should enter the type of financial asset held and the bank account balance into this field.
How do I calculate it?
The average annual balance is the amount obtained by dividing the sum of the daily balances of the current account by 365, regardless of the effective duration of the calendar year (leap years), and of the number of days in which the account has been active or had a positive balance, as defined by the italian Tax Authority (new tab) and in the instructions (new tab) for completing the Single Tax Declaration 2020 of the Ministry of Labor and Social Policies.
FAQs on Average annual balance
If I have an account with a German IBAN and my average balance is over € 5,000, do I have to declare it to the tax authority?
Yes, you will have to fill in the Rw part of the tax return and pay VAT, a fixed amount tax of € 34.20. Click here (new tab) for more information on this.
I would like to receive a PDF document with the value of my average annual balance. Is it possible?
We remind you that there are no legal provisions that require banks to provide this type of certification. We have decided to send the average annual balance as a private message, in order to make this data easily accessible and downloadable by all customers. However, your bank statement is sufficient as official proof in the event of an explicit request by the authorities, therefore we are unable to provide any document signed by the bank in PDF or similar format.