The popular savings passbook account is designed to help people on the lowest incomes to invest their savings under conditions that maintain their purchasing power.
A Conseil d’Etat decree defines the operating procedures for this passbook account and in particular the conditions under which companies, establishments or organisations that receive deposits are authorised, for its implementation, to open popular savings passbook accounts for beneficiaries.
This passbook account is reserved for taxpayers whose tax residence is in France and whose income does not exceed the amounts mentioned in I of article 1417 of the General Tax Code multiplied by a coefficient equal to 1.8, the amount obtained being rounded up to the nearest euro. Beneficiaries whose income exceeds the amounts mentioned in the first paragraph of this article for two consecutive years lose the benefit…
Only one passbook account may be opened per taxpayer and one for the taxpayer’s spouse or partner in a civil solidarity pact.
The prohibitions of article L. 112-2 do not apply to the remuneration of popular savings deposits when they meet the stability conditions, which are set at six calendar months.
Transactions relating to people’s savings passbook accounts are subject to documentary and on-site inspections by the Inspectorate General of Finance.
The people’s savings plan entitles the holder, in return for payments into an account opened with or under a life insurance contract taken out with bodies governed by the Insurance Code or the Mutual Insurance Code, credit institutions, the Banque de France, a competent public accountant, investment services providers other than portfolio management companies or institutions carrying out provident operations and covered by article L. 731-1 of the Social Security…
Payments made by plan holders whose tax domicile is in France and whose tax assessment in respect of income for the penultimate year does not exceed the limit mentioned in 1 bis of article 1657 of the General Tax Code are entitled to a premium equal to one quarter of their annual amount for the first seven years, or for the first ten years if a life insurance policy with…
Any withdrawal of funds will result in the closure of the plan. The plan is closed on the death of the holder. Withdrawals after the tenth year do not result in closure of the plan. However, no payments may be made after the first withdrawal.
Establishments managing people’s savings plans which are unable to produce the supporting documents provided for in the contract within three months of a request from the relevant departments or supervisory bodies must repay to the State the premiums for which the supporting documents are missing, together with their capitalised interest. These provisions apply to agreements signed by these establishments with the State before 1 January 1997 for sums paid from…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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