Securities accounts: tax authorities move to account-by-account reporting from 1 December 2026
Your bank may already have informed you of a change in its reporting obligations to the Central Point of Contact. The letter may look like a routine administrative notice. In reality, it announces a significant change in method: from 1 December 2026, the tax authorities will have a structured and regularly updated account-by-account view of your securities accounts and will be able to consult this information directly when checking the tax applicable to them. For most savers, nothing will change. But anyone holding financial assets close to or above €1 million should understand the implications.
What changes on 1 December 2026
The Central Point of Contact, maintained by the National Bank of Belgium, has for years recorded financial accounts and contracts held by Belgian residents. Until now, banks only reported an aggregated balance per customer for securities accounts. The Act of 18 December 2025 puts an end to this aggregated approach. From 1 December 2026, every securities account will be reported separately, including its account number, opening and closing dates, whether the person is an account holder or joint account holder, balances at certain reference dates, as well as powers of attorney and the identity of authorised representatives.
Two points deserve particular attention. The first reporting will notably include balances as at 31 December 2025 and 30 June 2026. The tax authorities will therefore have access to historical information rather than merely a snapshot of future balances. Data recorded with the Central Point of Contact is retained for ten years. Only authorities authorised by law may consult it, and only for legally defined purposes, including tax audits.
Why: enforcement of the annual tax on securities accounts
This reform has a specific objective: improving the enforcement of the annual tax on securities accounts. Introduced by the Act of 17 February 2021, this tax applies at a rate of 0.15% to securities accounts whose average value exceeds €1,000,000 during the reference period. The tax is generally withheld and paid by the bank. However, the account holder remains responsible, particularly where the securities account is held abroad.
The major change is the tax authorities' direct access to the data. The Act of 18 December 2025 introduces Article 201/9/7 into the Code of Miscellaneous Duties and Taxes, allowing the tax authorities to consult the Central Point of Contact in order to verify the correct application of the tax. Until now, access to financial data generally required indications of fraud or the opening of an individual tax investigation. From now on, checks may be carried out in a structured manner using the reported data, without any prior suspicion of fraud. This is a change in both approach and enforcement capability.
The real turning point: the end of the aggregated view
Moving from one aggregated balance to account-by-account reporting is not merely a technical detail. The tax is assessed per securities account, not per taxpayer. A securities account worth €1,500,000 is subject to the tax, whereas two accounts each worth €750,000 are, in principle, each below the threshold. Under the previous aggregated reporting system, this allocation was largely invisible. Detailed reporting makes the structure clear, including joint ownership arrangements and powers of attorney.
WHY THE DETAIL CHANGES EVERYTHING
The principle
A securities account with an average value exceeding €1,000,000 is subject to the 0.15% tax. On €1,500,000, this represents €2,250 per year.
The temptation
Split the securities between two accounts of €750,000 each so that both remain below the threshold.
What has changed
Transferring part of the securities to another account of which you are also a joint holder, as well as converting securities into registered form, is presumed to be intended to avoid the tax and must automatically be reported by the bank, regardless of the reason invoked.
The consequence
Combined with the account-by-account information available through the Central Point of Contact, this presumption significantly limits the possibility of avoiding the threshold through account splitting. It remains possible to prove that the transaction was motivated by non-tax reasons, but the burden of proof rests with you.
Beware of transactions presumed to be abusive
Increased transparency is accompanied by stronger anti-abuse provisions. The history of this tax is instructive. In 2022, the Constitutional Court annulled the original specific anti-abuse measure, while maintaining both the tax itself and the general anti-abuse provision. A programme law adopted at the end of 2025 reintroduced targeted presumptions. In practice, certain transactions are presumed to seek to avoid the tax and must automatically be reported by banks from 1 December 2026. These include transferring part of the securities to another account of which you are also a joint holder and registering securities in registered form in the shareholders' register.
This presumption does not make these transactions unlawful, nor is it irrebuttable. You may still demonstrate that the transaction was carried out for reasons unrelated to the tax. However, the burden of proof shifts to you, and the transaction is brought to the attention of the tax authorities regardless of your justification. Reorganising securities accounts when approaching the threshold is therefore no longer a discreet operation.
Your rights and what you should do
You may consult the information recorded in your name with the Central Point of Contact through the National Bank of Belgium. You may also request the correction of inaccurate information, or its deletion where permitted by law. For information transmitted by your bank, you should contact the bank directly. Beyond checking the data itself, the key issue is this: if your financial assets are close to or exceed €1 million, it is worth making sure that your situation has been correctly reported and anticipating the impact of the relevant reference dates rather than considering a restructuring that will now be automatically reported.
BEFORE REORGANISING YOUR ACCOUNTS
If your financial assets are around or above €1 million, two checks are essential. First, verify that the annual tax is correctly applied to your securities accounts and that the balances reported to the Central Point of Contact accurately reflect your situation. This includes securities accounts held abroad, where the reporting responsibility may rest with you. Second, avoid any restructuring motivated solely by the intention to escape the tax. Such transactions will now be visible and may be presumed abusive. A review of your wealth structure in advance can help secure your position and distinguish legitimate wealth management from arrangements that could expose you to a tax reassessment. Catalyst can assist you with this review.
In 30 seconds
✅ From 1 December 2026, each securities account will be reported separately to the Central Point of Contact rather than as one aggregated balance
✅ Information reported includes the account number, dates, status as holder or joint holder, balances at reference dates, powers of attorney and authorised representatives
✅ The first reporting will also include balances as at 31 December 2025 and 30 June 2026; data is retained for ten years
✅ Objective: enforcement of the annual tax on securities accounts, at 0.15% where the average account value exceeds €1,000,000
✅ The tax authorities will be able to consult the Central Point of Contact directly without prior indications of fraud
✅ Splitting securities between accounts or converting them into registered form may be presumed abusive and automatically reported; the burden of proving otherwise rests with you
KEY TAKEAWAY
For the vast majority of savers, this reform changes nothing. Its purpose is to increase transparency over significant financial assets and strengthen the enforcement of an existing tax. The message is not one of concern, but of accuracy: properly reported accounts have nothing to fear from greater transparency, while opportunistic restructuring will now be much more visible.