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Filing your taxes with a Coinbase in France: the complete guide
Coinbase account and don't know how to declare your cryptocurrency earnings or transactions to the tax authorities ? Are you looking for clear information to avoid any risk of penalties? You've come to the right place. However, we are not tax experts, and this article is in no way a substitute for the services of a tax lawyer specializing in cryptocurrencies. It is written for informational purposes based on various research conducted on the subject and aims to highlight some useful tools and practices. We advise you to consult the regulations in force with the French Financial Markets Authority (AMF) and to seek professional advice for any specific situation.
Table of contents
Declare your Coinbase account and earnings
French tax law requires you to declare any cryptocurrency account held abroad, as well as any capital gains realized when you sell your cryptocurrencies or use them to purchase goods and services. For Coinbase , Coinbase return is mandatory for all French residents. The tax authorities require both the submission of certain forms and the precise calculation of your annual earnings.
In this article, you will discover:
- The legal obligations for a Coinbase account based in Dublin.
- The key forms (form 3916-bis, form 2086, form 2042 C).
- French tax rates and specificities ( flat tax , exemption under €305).
- Practical solutions for calculating and centralizing your transactions.
Coinbase tax declaration: declaring your Coinbase account in France is mandatory
Understanding the legal framework
Coinbase is based in Ireland, a French tax resident must declare this account to the tax authorities by completing form 3916-bis when filing their annual income tax return. Failure to declare this account may result in financial penalties , with a fine of up to €750 per undeclared account and €1,500 if the account value exceeds €50,000 .
The growing appeal of crypto-assets to the French underscores the importance of complying with tax obligations. According to a study published in April 2023 by the Association for the Development of Digital Assets (Adan) in partnership with KPMG , nearly 4.8 million French people own cryptocurrencies. This trend highlights the need for investors to fully understand their reporting and taxation responsibilities.
A Coinbase account: What does it entail?
Coinbase is one of the most popular exchange platforms, especially for novice users, thanks to its intuitive interface and the diversity of its services (buying, selling, staking , crypto payments, etc.). For French tax purposes, it is considered a digital asset account held abroad , which entails certain obligations:
- Declare its existence every year , even if no movement has been carried out.
- Declare capital gains realized when a conversion to euros or a purchase with cryptos has taken place.
- Comply with the legislation , under penalty of sanctions in case of forgetfulness or omission.
Even if no taxable transactions have been made, the annual declaration of the Coinbase remains mandatory to avoid any risk of tax audit.
Coinbase tax return: The essential steps to declare your Coinbase account in France
Step 1: Identify the required forms
For crypto-assets, French taxation is primarily structured around three documents:
- Form 3916-bis : It is used to declare any "digital asset account" held with a foreign platform.
- Form 2086 : It lists all taxable transactions (the "taxable disposals") of the year, including those made on Coinbase .
- Form 2042 C : This is the dedicated annex for declaring capital gains or losses and is added to your general income tax return.
Practical guide: Listing the information to be provided
- Organization ID: Coinbase Europe Limited, 70 Sir John Rogerson's Quay, Dublin D02 R296, Ireland.
- Account type: Digital asset account.
- Dates: Opening date (and, if applicable, closing date) of the account.
- This information is crucial for correctly completing form 3916-bis.
Step 2: Complete form 3916-bis online
To file your Coinbasetax return, you must access your personal account on impots.gouv.fr and check the box corresponding to accounts held abroad (box 8UU). The website will then prompt you to complete form 3916-bis, which allows you to provide the following information:
- The name of the platform (Coinbase Europe Limited).
- The address of the headquarters (Dublin, Ireland).
- Account details (your CoinbaseID, opening date, etc.).
Be vigilant about account data
Make sure you provide accurate information:
Your email address used for Coinbase or your internal account number if Coinbase assigned you one.
The year you opened the account (for example, if you signed up in 2022).
If you closed the account, please provide the closing date to avoid any misunderstandings with the tax authorities.
Step 3: Declare capital gains using forms 2086 and 2042 C
In France, only exchanges of cryptocurrency for fiat currency (such as the euro) or the purchase of goods/services trigger taxation. Crypto-to-crypto transfers are not taxed. If the total amount of your annual sales is less than €305, the capital gains realized are tax-exempt. However, once this threshold is exceeded, a flat tax rate of 30% applies (12.8% income tax + 17.2% social security contributions).
- Form 2086: Declare here each taxable disposal, its amount, and calculate the gross capital gain or loss.
- Form 2042 C: The total of your net gains (after offsetting capital losses) is reported in boxes 3AN (capital gains) or 3BN (capital losses).
Coinbase tax return: Calculate your earnings with centralized reporting tools
Why centralize all your platforms and portfolios?
You can own multiple exchange accounts (Gemini,Binance, Bitvavo, etc.) as well as non-custodial wallets (Ledger, Tangem) to secure your assets.
Under these conditions, it's difficult to accurately calculate your annual capital gains for each account. Many reporting errors occur because you forget a transaction or underestimate the value of a token.
The simplest way to avoid this is to use specialized solutions that take into account all your transactions, even across multiple blockchains (Bitcoin, Ethereum, BNB Chain, etc.), and generate a tax report. This way, you consolidate everything in one go
- Your purchases and sales of crypto-assets (fiat-crypto).
- Your transfers to and from other platforms.
- Your transaction and trading .
- The overall value of your portfolio , updated for each taxable transaction.
Quick comparison of tax calculation automation software
- Waltio : French interface, local support, higher cost for some.
- Koinly : Global tool, solid ergonomics, some limitations regarding French taxation (language, settings).
- CryptoTaxCalculator DeFi features , interface needs serious configuration, mostly in English.
In any case, using specialized software will save you time and reduce the risk of making mistakes in your calculations, especially if you are using multiple platforms and operations.
Coinbase tax return: The step-by-step filing process
Create or open your online tax return
Log in to impots.gouv.fr and access your personal account.
In the "Declarations" section, check the "Foreign Accounts (8UU)" box to open form 3916-bis.
Also check the "Capital Gains or Losses on Digital Assets (boxes 3AN / 3BN)" box to open appendix 2086 if your taxable sales have exceeded €305.
Complete form 3916-bis
Please indicate:
- “ Coinbase Europe Limited” as the organization, with an address in Ireland.
- The account opening date (and closing date if applicable).
- The account type: "Digital Asset Account".
- The use of the account (e.g., personal investment
Complete form 2086
This form can remain blank if you have not made any taxable transactions (i.e., no exchange of crypto for fiat or purchase of goods/services in crypto). Otherwise, you must list the following:
- The date of each session.
- The selling price (or the value if you purchased a good/service).
- The overall acquisition price, calculated according to the tax method (portfolio proportion).
Enter the amounts on form 2042 C
Finally, validate your data. The site automatically transfers the net result (capital gain or loss) to boxes 3AN or 3BN of form 2042 C. Always check that these boxes have been filled in correctly and that you have not missed any potential expenses.
Coinbase tax return: Tax rates and possible regimes
The flat tax of 30%
The flat tax (or PFU) is the standard rule for most taxpayers. It includes:
- 12.8% income tax.
- 17.2% social security contributions.
If you make a total capital gain of €1,000 on your Coinbasetransactions, you will therefore pay €300 in taxes on this capital gain.
The progressive scale: who is affected?
Since 2019, and especially since the 2023 reform, you have the option to choose the progressive income tax scale. This option is particularly relevant for those whose marginal tax rate is lower than 12.8%. However, precise calculations are necessary because social security contributions are always added.
Special cases: professional activity
If the tax authorities consider that you trade very frequently and use professional-level techniques, you could be reclassified as either industrial and commercial profits (BIC) or non-commercial profits (BNC). This entails more stringent accounting obligations and a different tax regime. The tax authorities will notably verify:
- The frequency of operations.
- The amounts invested.
- The technical knowledge employed.
- The computer tools used (trading bots, etc.).
Coinbase tax return: The risks of forgetting or not declaring
Fines and penalties
Failing to declare your Coinbase account is punishable. As mentioned, the fine can be up to €1,500 per account per year if the account value exceeds €50,000. If you do not declare your capital gains, you risk:
- Late payment penalties of 10% to 40%, or even 80% in cases of proven fraud.
- Late payment interest at a rate of 0.2% per month, reassessed regularly.
Right to make mistakes
France has implemented a "right to make a mistake" system to encourage voluntary disclosure. If you realize you have failed to declare cryptocurrency income or an account, you can contact the tax authorities to correct your declaration. Penalties may then be reduced.
Coinbase tax return: Tips for effectively managing your crypto taxes
Keep an up-to-date record of your transactions
Record every euro purchase on Coinbase, every sale, and even every crypto-to-crypto transfer if you want to keep a close eye on your portfolio. If you make a lot of transactions, this won't be realistic; you'll need to use other methods.
Export your Coinbase history regularly
Coinbase allows you to download a CSV file summarizing all your trades, withdrawals, and deposits. Combine this with statements from your other platforms for a complete overview.
Use a calculation platform: Waltio, Koinly, CryptoTaxCalculator
These solutions automatically interface with Coinbase, either via the platform's API or by importing CSV files. This provides you with a summary table of your capital gains in the appropriate format.
Don't forget the exemption thresholds
As long as your annual sales do not exceed €305, you are exempt from capital gains tax. Note that this threshold is based on the total sales, not on the capital gain itself.
Keep an eye on the regulations
Crypto-asset taxation is evolving rapidly. Discussions surrounding the annual finance law can change rates or reporting requirements. Stay informed via:
The updated Official Bulletin of Public Finances (BOFiP).
European legislative updates (DAC8, MiCA , etc.).
Guides published by the Financial Markets Authority (AMF).
Coinbase tax return: Can you avoid taxation? Points to consider
The main way to avoid taxation remains not converting your cryptocurrencies into euros and instead converting your risky assets into Stbalecoins, since only crypto-to-fiat transactions or direct purchases of goods and services in digital assets are taxable. Purely crypto-to-crypto exchanges do not trigger taxation under the current French tax system.
However, buying, for example, a gift card or a physical product with BTC is considered a onerous transfer, which triggers tax if the total of your transfers over the year exceeds €305.
Conclusion: Compliance is key to securing your profits
Properly declaring a Coinbase account as a French tax resident has become more than just a formality.
Fortunately, the procedure for filing this Coinbase tax return remains accessible to everyone. It mainly requires meticulous tracking of transactions, attention to forms 3916-bis, 2086 and 2042 C, and the use of appropriate tools such as Waltio, Koinly or CryptoTaxCalculator to generate detailed reports.
Now that you know the basics, you're equipped to easily declare your Coinbase account and any earnings, avoiding any unpleasant surprises. Just be sure to respect the reporting deadlines based on your tax zone and double-check that all your transactions are included.
If in doubt, it is always recommended to consult a tax advisor specializing in crypto-assets or a law firm familiar with French regulations. This remains the safest way to avoid costly mistakes in the long run.
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Yoann
Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.
