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Securities and non-bank financial organizations programs for the automation of accounting in investment and management companies, PIFs, depositories. Avankor: Trust management Accounting for trust management in 1c

The rules for reflecting business transactions in the accounting and drawing up financial statements in the implementation of a property trust management agreement were approved by Order of the Ministry of Finance of the Russian Federation of November 28, 2001 No. 97n and entered into force in 2002 reporting.

By virtue of this document, the application of the instructions set forth in it is mandatory for organizations that are legal entities under the legislation of the Russian Federation, with the exception of credit and insurance organizations, organizations acting as professional participants in the securities market, non-state pension funds and budgetary institutions.

The accounting procedure is established for each of the parties to the property trust agreement. Reflection in the accounting of the operation of transferring the property management by the founder to trust management and other operations related to the implementation of the property trust management agreement is performed using account 79 "Intra-enterprise settlements", subaccount "Settlements under the property trust management agreement".

We remind you that the norms of the Civil Code require the separation of property transferred into trust from other property, both from the founder of the management and from the trustee. Due to the fact that the trustee is obliged to report on the effectiveness of the management of the property transferred to him by the owner, he needs to keep an independent record of this property on a separate balance sheet.

PROCEDURE FOR CONDUCTING OPERATIONS RELATED TO THE PERFORMANCE OF THE CONTRACT OF CONFIDENTIAL MANAGEMENT OF PROPERTY BY THE MANAGEMENT FOUNDER

As follows from clause 4 of the Instructions, the founder of the management transfers the objects of property to trust management at the cost at which they are recorded in his accounting and on the date of entry into force of the trust management agreement.

It was stated above that, by virtue of paragraph 2 of Article 433 of the Civil Code, an agreement for the trust management of property is considered concluded from the moment the founder of the trust management of the relevant property is transferred to the trust manager.

Then, upon confirmation of the receipt by the trustee of the property transferred to trust, in this case it can be a notice of posting, or a primary accounting document marked "D.U.", drawn up depending on the type of property, (invoice, or act reception - transmission), the following entry is made on the accounting accounts:

Due to the fact that the transfer of objects by the founder of management occurs at the cost recorded in the accounting records, then the amounts of accrued depreciation are simultaneously reflected on the depreciable property as follows:

As for the profit and funds received from the trustee, the reflection by the founder of the management of the receipt of these funds in the accounting is carried out depending on their purpose.

If there was an accrual of due profit under a property trust agreement, then the following accounts are entered in accounting:

So, if the funds are transferred by the trustee against the due profit under the property trust agreement, then the following accounts are entered in accounting:

In the event that the incoming funds are associated with compensation for losses incurred as a result of loss or damage to property through the fault of the trustee, or are intended to pay off lost profits identified by the founder of the management based on the results of management presented by the trustee, then the correspondence of accounts is different, namely:

Thus, in the absence of evidence that the losses occurred as a result of force majeure or the actions of the beneficiary or the founder of the management, the trustee is responsible for the losses caused, and for the founder of the management these amounts are recognized as non-operating income and are reflected:

According to clause 6 of the above Order, upon termination of the property trust management agreement, the property returned to the founder of the management must be accounted for in the same assessment, according to which they were transferred to trust management.

It follows from this provision that the operations of returning property from trust should be reflected by reverse entries, at the same time, operations are performed in the same amounts as when transferring property to trust, namely:

At the same time, a reverse entry is made to the amount of accrued depreciation on the property returned from trust management:

As for the accounting entries related to the implementation of the property trust agreement with the founder of the management, in addition to the operations set out in the Instructions and discussed above, they are reflected in accordance with the general accounting rules.

Further, paragraph 7, fixed, as the final stage, the procedure for drawing up reports by the founder of the management. It follows from it that the financial statements of the founder of the management should fully include the data provided by the trustee on assets, liabilities, income, expenses and other indicators, by summing up similar indicators. When combined with the information provided by the trustee, the data on account 79 "Intrafarm settlements", the subaccount "Settlements under a property trust agreement" are excluded.

The submission of financial statements by the founder of the management is carried out in accordance with the general procedure established by the Federal Law of November 21, 1996 No. 129-FZ "On Accounting".

Additionally, it is provided as part of the explanatory note to the reporting of the founder of the management, to disclose information related to the implementation of the property trust management agreement on the basis of the rules established by the Accounting Regulations "Information by Segment" PBU 12/2000, approved by the Order of the Ministry of Finance of the Russian Federation on January 27, 2000 No. 11n.

PROCEDURE FOR REFLECTING OPERATIONS RELATED TO THE PERFORMANCE OF THE CONTRACT OF CONFIDENTIAL MANAGEMENT OF PROPERTY BY THE PURCHASER

A separate section of the Instructions is devoted to the reflection of transactions with the beneficiary, since the property trust agreement may provide for the management of property not only in the interests of the founder, but also of the person indicated by him.

As follows from clauses 8 and 9 of this section of the Instructions, the beneficiary must reflect as non-operating income both the income due to him from property management based on the report on the activities under the trust management agreement presented by the trustee, and the lost profit to be reimbursed by the trustee. the manager, revealed during the management of the trust property. Such transactions are reflected as follows:

As the actual transfer of funds by the trustee to the beneficiary, the following records are made:

The financial statements are provided by the beneficiary, taking into account the financial result obtained under the trust management agreement, in accordance with the procedure established by the Federal Law of November 21, 1996 No. 129-FZ "On Accounting".

PROCEDURE FOR REFLECTING OPERATIONS RELATED TO THE IMPLEMENTATION OF THE CONTRACT OF CONFIDENTIAL MANAGEMENT OF PROPERTY ON A SEPARATE BALANCE SHEET BY THE CONFIDENTIAL MANAGER

By the features of the trust management agreement, it is predetermined that the accounting of the results of activities from the management of property transferred to trust management is entrusted to the trustee. In this connection, the trustee has a need to maintain two balances.

Thus, paragraph 11 of the Instructions obliges the trustee to organize accounting in such a way as to ensure independent accounting of transactions under each trust management agreement, separate from operations related to the trustee's property.

Reflection of operations related to the implementation of a property trust agreement, the formation and accounting of income, expenses are carried out in the generally established procedure, while a prerequisite is compliance with the principles of formation of the accounting policy adopted by the founder of the management.

In addition, when the trustee concludes several contracts of trust management, analytical accounting for account 79 "Intrafarm settlements" is carried out for each founder of the management.

In order to comply with the provisions of Article 1018 of the Civil Code of the Russian Federation, which provides not only for the segregation of property, but also for the conduct of separate settlements for activities related to the trust management of property, this requires opening separate bank accounts and appropriately organizing accounting for cash accounts. To fulfill this requirement in respect of cash settlements carried out under the contract in question, a separate cash book must be kept.

A separate balance sheet should include property belonging to the founder of the management, but received for management by the trustee. At the same time, the assessment of this property also corresponds to the value recorded in the accounting records of the founder of the management as of the date of entry into force of the property trust agreement. Correspondence of accounts used to reflect these transactions is as follows:

At the same time, an entry is made on the amount of accrued depreciation on the property accepted for accounting, transferred by the founder of the management to trust management:

It should be noted that depreciation on the property transferred to trust management continues to be charged by the trustee in the generally established manner, but in the manner established in the accounting policy of the founder of the management, as well as within the useful life that was adopted by the founder of the management.

In accounting, the trustee keeps records of depreciation during the term of the agreement on the following accounts allocated in a separate balance sheet:

In the event that in the process of trust management of property, finished products or new objects of fixed assets, intangible assets are created, in accounting, these objects are recognized in the amount of the actual costs of their creation or manufacture.

Also, in accordance with the generally established procedure, the acquired commodity - material assets, securities or objects of long-term investments, necessary in the course of the execution of the contract, are taken into account. Since the creation or acquisition of new objects is caused by the possibility of obtaining with their help the best results from property management, the source of the acquisition of these objects can only be the funds of the founder of the management.

The funds received from the founder of the management for the implementation of long-term investments are reflected in the accounting records:

The formation of the result from the trust management of property is carried out taking into account all costs incurred during the execution of the contract, including one of the main costs is the remuneration due to the trust manager.

Consequently, the amounts of remuneration provided for by the contract of trust management of property and reimbursement of the necessary expenses incurred by the trust manager in trust management of property are recorded on the accounts of a separate balance sheet:

The transfer of the amount of remuneration provided for by the contract of trust management of property and reimbursement of the necessary expenses incurred by the trust manager in trust management of property are recorded on the accounts of a separate balance sheet:

As follows from clause 13 of the Instructions, when transferring funds to the account of the income due to the founder of the management under the property trust agreement, the following correspondence of accounts is used:

Termination of a trust management agreement entails the return of property, including a newly created or acquired management company, unless otherwise provided by the terms of the agreement. What requires reflection in the accounting of a separate balance sheet with the following entries:

At the same time, the amounts of amortization accrued during the validity of the contract for property subject to return from trust with the following record are transferred:

Other actions in relation to property transferred to trust management, provided for by the contract of trust management of property, are subject to reflection in accounting in accordance with the generally established procedure.

In addition to the objects of property, it is also necessary to transfer the funds in the cash balances and on the current account, registered on the date of termination of the trust management agreement, with the following entries:

All the operations set out above are conducted by the trustee on a separate balance sheet, and data on assets, liabilities, income and expenses received in the performance of the property trust agreement are attached to the activity report, which must be submitted to the founder of the management and the beneficiary in the time and order, which are established by the property trust agreement.

Clause 15 of the Instructions emphasizes that this information cannot be presented later than the deadlines established by the Federal Law of November 21, 1996 No. 129-FZ "On Accounting" for financial statements. A prerequisite for compliance with the form of presentation of these financial statements is the presence after the name or the name of the trustee of the mark "D.U."

The specified paragraph also explains the actions of the trustee in the event of termination of the contract for the trust management of property.

First of all, the trustee must carry out transactions to repay existing obligations. Next, transfer the balance of funds to the founder of the management and close the current account.

In accordance with the terms of the agreement, transfer the property to be returned to the founder of the management, as well as carry out other operations provided for by the agreement on the trust management of the property upon its termination.

Reflect these transactions in accounting, closing the balance of settlements related to the execution of the property trust agreement, accounted for in account 79-3 "Settlements under the property trust agreement".

The final step upon termination of a property trust agreement is the compilation of a separate balance sheet by the trustee as of the date of termination of the agreement.

3.4. PROCEDURE FOR REFLECTING OPERATIONS RELATED TO THE IMPLEMENTATION OF THE CONTRACT OF CONFIDENTIAL MANAGEMENT OF PROPERTY AT THE TRUSTEE

As follows from section V of the Instructions, in its own accounting, income and expenses arising from the trustee in the process of carrying out activities related to the trust management of property are reflected in accordance with the general provisions of accounting.

A number of features should also be taken into account when keeping records of transactions related to the implementation of a property trust agreement.

So, all expenses of the trustee must be accounted for separately for each one under the contract.

By virtue of paragraph 16 of the Instructions, not only the amounts due to the trustee in the form of remuneration, but also the amount of expenses incurred by him in the trust management of property, reimbursed by the founder of the management, are also included in the revenue, which should be reflected in the following entries:

At the same time, the cost of providing trust management services is formed by writing off the corresponding part of the costs to be reimbursed from income:

In the event that during the time of the trust management of the property, the trustee committed actions that resulted in the loss or damage of the property, it is his responsibility to compensate the founder of the management for the losses. In addition, if the trust management agreement is concluded in the interests of the beneficiary, then the amounts identified as a result of the management of the trust property are due to him as a lost profit.

Such transactions are reflected by the trustee as non-operating expenses as follows:

When transferring the said funds to the founder of the management or the beneficiary, the following records are made:

The trustee submits accounting reports on his activities in accordance with the procedure established by Federal Law No. 129-FZ of November 21, 1996 “On Accounting”.

PROCEDURE FOR REFLECTING OPERATIONS RELATED TO THE TRANSFER TO THE TRUST MANAGEMENT OF THE ORGANIZATION AS A PROPERTY COMPLEX AS A WHOLE

The last section of the Instructions is devoted to the reflection of operations for the implementation of a trust agreement, the object of which is the organization as a property complex as a whole.

Clause 18 of the Instructions explains that the accounting by the trustee is carried out according to the rules established for a legal entity that has an independent balance sheet.

The amounts of remuneration due to the trustee in accordance with the contract for the trust management of property and reimbursement of the necessary expenses incurred by him in the trust management of property are taken into account:

When actually transferring the indicated amounts, the correspondence of accounts for a similar operation described in the previous sections is used.

At the same time, the submission of financial statements for an organization transferred to trust management is entrusted to the trustee in the amount and in the manner established by Federal Law 129-ФЗ "On Accounting" dated November 21, 1996 for legal entities, with the obligatory mark "D.U. . " after the name or title of the trustee.

Concluding the consideration of operations related to the property trust agreement, we emphasize once again that the accounting procedure and reporting is regulated for each participant in this process. This aspect has a significant impact on taxation arising in the process of property management.

In this case, in order to make a decision on the transfer of property into trust, it is very important to determine who and in what order should calculate and pay taxes.

Yu.V. Kapanina, Certified Tax Consultant

Have you entrusted the management of your property?

How to the founder (beneficiary) to take into account the operations related to the trust management agreement

In,, we talked about the features of processing documents under a trust agreement. Moreover, information about the workflow will be useful to all parties to this agreement. We also talked about the reflection of transactions under such an agreement in the accounting and tax accounting of the trustee. And how to keep records and fill out reports to the founder of management and the beneficiary - a third party, you will learn from this article.

Accounting with the founder of the management

Accounting

Let's take an example of accounting.

Example. Accounting for transactions related to trust management of property

/ condition / In December 2015, the company accounted for the acquired shopping center building as a fixed asset at the initial cost of RUB 56,760,000. From 01.01.2016 depreciation is charged on the building. The useful life (taking into account the operating life of the previous owner) is 264 months, the amount of monthly depreciation is 215,000 rubles.

On April 1, 2016, the trust management agreement entered into force, and the company transferred the building into management for 3 years for leasing, becoming the founder of the management - the beneficiary. The amount of amortization accumulated as of April 1 is 645,000 rubles.

Suppose that in one of the reporting periods the profit due to the founder of the management, according to the report of the trustee, amounted to 2,260,000 rubles.

/ solution / In the accounting, make the following entries and nn. 4-6 Instructions approved By order of the Ministry of Finance dated November 28, 2001 No. 97n (hereinafter referred to as the Instructions).

Contents of operation Dt CT Amount, rub.
On the date of transfer of property
The building was handed over to the trustee 79 "On-farm settlements", subaccount "Settlements under a property trust agreement" 01 "Fixed assets" 56 760 000
Amount of accrued depreciation transferred 645 000
As of the date of the manager's report
Reflected profit under the trust management agreement 79, subaccount "Settlements under a property trust agreement" 90 "Sales", sub-account 1 "Revenue" (91 "Other income and expenses", sub-account "Other income") 2 260 000
Received from the manager VAT accrued on remuneration 19 "VAT" 79, subaccount "Settlements under a property trust agreement" 43 200
VAT on remuneration is accepted for deduction 68 "VAT" 19 "VAT" 43 200
On the date of receipt of money
Received money from the trustee 51 "Current account" 79, subaccount "Settlements under a property trust agreement" 2 260 000
On the date of termination of the contract
The building was returned to the founder of the management 01 "Fixed assets" 79, subaccount "Settlements under a property trust agreement" 56 760 000
Amount of accrued depreciation accepted
(645,000 rubles + (215,000 rubles x 36 months))		 79, subaccount "Settlements under a property trust agreement" 02 "Depreciation of fixed assets" 8 385 000
Upon receipt from the manager of the balance of money on the segregated current account, an entry is made: debit of account 51 "Current account" - credit of account 79, subaccount "Settlements under a property trust agreement".
Closing the subaccount "Settlements under the trust management agreement" is reflected by the entry: debit of account 79, subaccount "Settlements under the trust management agreement", - credit of account 99 "Profits and losses"

When drawing up the financial statements, the founder of the management must include in it the data on assets, liabilities, income, expenses provided by the trustee x p. 7 Instructions... Since the founder receives such information in the accounting statements compiled by the manager, he just needs to summarize the data obtained with similar indicators in his statements (for example, the indicator of line 1150 of the balance sheet must be increased by the residual value of fixed assets transferred to trust).

By the way, the balances on account 79, subaccount "Settlements under a property trust agreement", are not reflected in the balance sheet. p. 7 Instructions... Since the balances on the debit (credit) of account 79-3 in the accounting of the founder of the management will be equal (with correct accounting) to the credit (debit) of the same account in the separate accounting of the manager. And when the founder compiles the balance sheet, the debit and credit of account 79 will overlap.

Note also that if a third party is the beneficiary under the trust management agreement, then the founder of the management does not make an entry in his accounting for reflecting income.

VAT

We must say right away that questions regarding VAT in trust management concern only the founder of the management who applies the DOS (simplified taxpayers are not VAT payers nn. 2, 3 tbsp. 346.11 of the Tax Code of the Russian Federation).

VAT on the transfer of property. Since the transfer of property to trust does not transfer the ownership of it to the manager, such transfer is not subject to VAT. clause 1 of Art. 1012 of the Civil Code of the Russian Federation; clause 1 of Art. 39, paragraph 1 of Art. 146 of the Tax Code of the Russian Federation.

According to a specialist of the Federal Tax Service, the founder must restore the input VAT previously accepted for deduction on the transferred property from sub. 2 p. 3 art. 170 of the Tax Code of the Russian Federation; Federal Tax Service letters dated 03.05.2012 No. ED-4-3 / [email protected]; Ministry of Finance dated November 14, 2011 No. 03-07-11 / 311.

FROM AUTHORIZED SOURCES

Advisor to the State Civil Service of the Russian Federation, 2nd class

“Transfer of property to trust is not subject to VAT clause 1 of Art. 146, art. 39 of the Tax Code of the Russian Federation... Therefore, a company that transfers property to trust is obliged to restore the amount of input tax on this property, which was previously legally accepted for deduction. In this case, the restoration of the amount of tax is carried out in the manner prescribed by sub. 2 p. 3 art. 170 of the Tax Code of the Russian Federation ”.

At the same time, there are court decisions supporting a different position: Art. 170 of the Tax Code of the Russian Federation contains an exhaustive list of cases in which VAT accepted for deduction is subject to restoration, and the transfer of property to trust management is not included in this list. Resolutions of the FAS SZO dated 31.01.2014 No. A26-600 / 2013; FAS SKO dated 30.09.2011 No. А32-23383 / 2010.

In the case when the founder of the management has not previously declared a deduction for the transferred property, in the opinion of the judges, its transfer to trust management does not prevent the deduction if this property will be used by the trustee in VAT-taxable transactions x clause 2 of Art. 171, paragraph 1 of Art. 172 of the Tax Code of the Russian Federation; Resolution of the AC PO dated October 28, 2014 No. A12-2328 / 2013 (By the decision of the Supreme Court dated February 24, 2015 No. 306-KG15-320, it was refused to transfer the case for consideration by the Judicial Collegium for Economic Disputes).

VAT upon execution of a trust agreement. All obligations under this agreement are assigned to the trustee of clause 1 of Art. 174.1 of the Tax Code of the Russian Federation... That is, the founder of the department does not calculate and pay VAT on these operations.

Accordingly, no VAT is paid on the income received by the founder under the trust management agreement.

In this case, the VAT presented to the founder of the management in the remuneration of the manager, he can accept for deduction from Resolution of the Presidium of the Supreme Arbitration Court of 15.07.2010 No. 2809/10.

Income tax

The rules for the formation of income and expenses for the founder of the management depend on who will be the recipient of the income under the contract, that is, the beneficiary.

SITUATION 1. The founder of the management is the beneficiary.

The income of the founder of the management on the basis of the manager's report is included in his revenue or non-operating income, depending on the type of income received and in accordance with the accounting policy clause 2 of Art. 276 of the Tax Code of the Russian Federation... In this case, non-operating income from trust management is accounted for on the last day of the reporting (tax) period a par. 4 sub. 5 p. 4 art. 271 of the Tax Code of the Russian Federation.

TELLING THE MANAGER

In a trust agreement it is better to provide a remuneration for the manager. Without this, it turns out that the manager provides services free of charge, which means that the founder must include their market value in non-operating income. clause 8 of Art. 250 Tax Code.

Accordingly, the costs associated with the execution of the trust management agreement (including depreciation of property and remuneration of the trustee), depending on their type, are also recognized clause 2 of Art. 276 of the Tax Code of the Russian Federation:

  • <или>production costs;
  • <или>extraordinary expenses.

Let's see how the founder can show data on such income and expenses in the income tax return.

Example. Reflection in the declaration of operations related to the trust management of property

/ condition / Let's use the data from the previous example. Suppose the manager's report says:

  • property lease income (excluding VAT) - 3,000,000 rubles;
  • costs associated with the execution of the contract - 740,000 rubles. (of which: depreciation of the building - 215,000 rubles, manager's remuneration - 240,000 rubles, other reimbursable expenses - 285,000 rubles).

/ solution / To reflect the data received, the founder needs to fill out Appendix No. 3 to sheet 02 of the income tax return clause 8.4 of the Procedure, approved. By order of the Federal Tax Service dated November 26, 2014 No. ММВ-7-3 / [email protected] .

Indicators Line code Amount in rubles
1 2 3
...
210
211 Here is indicated the amount of non-operating income allocated from the total amount of income, which is then transferred to line 100 of Appendix No. 1 to sheet 02
220
including non-operating expenses 221 Here you need to enter the amount of non-operating expenses allocated from the total amount of expenses. This indicator is included in line 200 of Appendix No. 2 to sheet 02
Losses incurred in the reporting (tax) period under a property trust agreement 230 If, as a result of the activities of the manager, losses are incurred (expenses exceed revenues), the amount of these losses does not need to be reflected here. Since this line only shows losses that are not taken into account for the purposes of calculating income tax. And in a situation where the founder is the beneficiary, there are no such restrictions
...
Total proceeds from sales of operations reflected in Appendix No. 3 to Sheet 02 (the sum of lines 030, 100, 110, 180 (210 - 211), 240 in Appendix No. 3 to Sheet 02) 340
350
360

If the founder has no other taxable income other than income from trust, then he needs to pay only quarterly advance payments (within a quarter, monthly advance payments are not paid), regardless of the amount of quarterly income received in clause 3 of Art. 286 of the Tax Code of the Russian Federation... But in the presence of other income, advance payments are made to the budget in accordance with the generally established procedure. Letters of the Ministry of Finance dated 26.02.2013 No. 03-03-06 / 1/5366, dated 15.08.2011 No. 03-03-06 / 1/485.

When, upon termination of the contract, the property that was in trust, the manager transfers back to the founder:

  • the founder does not generate any income. It also does not matter whether the value of this property has increased or decreased during the period of trust management, the corresponding difference is not taken into account when calculating income tax. paragraph 4 of Art. 276 of the Tax Code of the Russian Federation;
  • the founder determines the tax residual value of the property, taking into account the depreciation accrued for the period of the trust management agreement and continues to depreciate it, as before Art. 332 of the Tax Code of the Russian Federation.

SITUATION 2. The founder is not a beneficiary. Then the tax base for trust management of property is determined by the beneficiary clause 3 of Art. 276 of the Tax Code of the Russian Federation.

In such a situation, the founder can take into account only the manager's remuneration as non-operating expenses when calculating income tax, if, according to the terms of the agreement, it is paid at the expense of the founder. sub. 2 p. 3 art. 276 of the Tax Code of the Russian Federation... Any other expenses related to the agreement are not taken into account in taxation. Clause 47 of Art. 270, sub. 3 p. 3 art. 276, art. 332 of the Tax Code of the Russian Federation.

FROM AUTHORIZED SOURCES

Advisor to the State Civil Service of the Russian Federation, 3rd class

“If, under the terms of the trust management agreement, the founder of the management is not a beneficiary, then depreciation on the property transferred to management is charged and taken into account when taxing profits from the beneficiary during the term of the trust management agreement. sub. 2 p. 3 art. 276 of the Tax Code of the Russian Federation.

When the property is returned to the founder, depreciation accrued on this property by the beneficiary during the period of the contract is not taken into account by the founder for the purpose of calculating income tax. Art. 332 of the Tax Code of the Russian Federation” .

Property tax

Despite the fact that the fixed asset transferred to trust management is accounted for by the management founder on account 79 "Intra-enterprise settlements", and not on account 01 "Fixed assets", he still remains its owner. Therefore, in relation to this OS, it is the founder of the management who must submit declarations and pay property tax. clause 1 of Art. 374, paragraph 1 of Art. 378 Tax Code.

Accounting with a third party beneficiary

Accounting

To reflect in the accounting of transactions related to trust management in the interests of the beneficiary, make such entries and nn. 8-10 Notes.

VAT

Receiving income under a trust management agreement for the beneficiary does not entail consequences for VAT, since it does not provide any services to anyone.

Income tax

Income under the trust management agreement, depending on their type, is included by the beneficiary in its income from sales or non-operating income in clause 3 of Art. 276 of the Tax Code of the Russian Federation.

Attention

If more than one beneficiary is stipulated under the terms of the contract of trust management of property, then income and expenses are taken into account by them in proportion to their share of m sub. 4 p. 3 art. 276 of the Tax Code of the Russian Federation.

In this case, the beneficiary may include in the "profitable" expenses sub. 2 p. 3 art. 276 of the Tax Code of the Russian Federation:

  • the costs of the trustee incurred by him within the framework of the trust agreement, only if the agreement provides for their compensation;
  • the remuneration of the trustee, provided that it is paid by reducing the income received in the framework of the execution of the fiduciary agreement.

The beneficiary for tax purposes will not be able to take into account the losses received under the trust management agreement sub. 3 p. 3. Art. 276 of the Tax Code of the Russian Federation.

Let's show with an example how to reflect the financial results of a trustee.

Indicators Line code Amount in rubles
1 2 3
...
Income of the founder of trust management (income of the beneficiary) received under the trust management agreement 210
including non-operating income 211
Expenses of the founder of trust management (beneficiary) associated with the implementation of the contract of trust management of property
Total expenses for operations reflected in Appendix No. 3 to Sheet 02 (the sum of lines 040, 120, 130, 190 (220 - 221), 250 Appendix No. 3 to Sheet 02) 350
Losses on operations reflected in Appendix No. 3 to Sheet 02 (the sum of lines 060, 150, 160, 201, 230, 260 of Appendix No. 3 to Sheet 02) 360 This amount is transferred from line 230. Then the amount of the loss is included in line 050 of sheet 02, in which the amount of losses not taken into account when calculating income tax is restored

The parties to the trust management agreement can apply the simplified tax system only with the object of taxation "income minus expenses" clause 3 of Art. 346.14 of the Tax Code of the Russian Federation... But there are no special provisions concerning the accounting of these incomes and expenses for them in the Tax Code of the Russian Federation. Therefore, simplified people need to rely on the general norms that we talked about. But there are still differences:

  • the costs of the founder of the management for the payment of remuneration to the trustee are not taken into account when calculating the simplified taxation system, since the closed list of "simplified" costs is not named clause 1 of Art. 346.16 of the Tax Code of the Russian Federation; Letter of the Ministry of Finance dated 12.05.2012 No. 03-11-06 / 2/67;
  • reimbursable expenses related to the execution of the trust agreement are taken into account when calculating the "simplified" tax, depending on whether a specific type of expense is indicated in the closed list in clause 1 of Art. 346.16 of the Tax Code of the Russian Federation;
  • income of all parties to the trust management agreement is accounted for on the date of receipt of funds to the current account (at the cash desk) clause 1 of Art. 346.17 Tax Code of the Russian Federation.

A property trust agreement (hereinafter referred to as the DAC) is increasingly used in practice, for example, when several owners create a company that will manage the property, or when, in order to optimize taxes, the property owner transfers it to trust management. At the same time, the trust management procedure itself has a number of features related both to the conclusion of an agreement and to the specifics of accounting and tax accounting.

Property trust agreement

The procedure for concluding a preschool educational institution with property, the requirements for the form of such an agreement, the procedure for transferring property into trust management are regulated by the Civil Code (1). According to Article 1012 of the Civil Code on the DDU property, one party (the founder of the management) transfers the property to the other party (the trustee) for a certain period of time in trust, and the other party undertakes to manage this property in the interests of the founder of the management or the person indicated (beneficiary). At the same time, the transfer of property into trust does not entail the transfer of ownership of it to the trust manager.

Property management should be understood as the commission in respect of this property in accordance with the DDU of any legal and actual actions in the interests of the beneficiary (2).

What property can be transferred to trust management?

This issue is also resolved in the Civil Code. Trust objects can be (3):

Enterprises;

Property complexes;

Separate objects related to real estate;

Securities;

Rights certified by non-documentary securities;

Exclusive rights;

Other property.

It should be noted the mandatory requirements for such an agreement.

First, the transfer of immovable property into trust is subject to state registration (4) and is considered to have taken place at the time of such registration. DDU real estate is considered concluded from the moment of transfer of the object of trust. This is confirmed by judicial practice (5).

Secondly, the contract must specify the essential conditions:

The composition of the property transferred to trust management;

The name of the legal entity or the name of the citizen in whose interests the property is managed (the founder of the management or the beneficiary);

The amount and form of remuneration to the manager, if such payments are provided for by the contract;

Contract time.

In addition, it is advisable to reflect the manager's responsibility in the contract. The trustee is liable for the losses incurred, unless he proves that these losses occurred as a result of force majeure or the actions of the beneficiary or the founder of the management (6). In this case, the manager has the right to the remuneration provided for by the DDU property, as well as to reimburse the necessary expenses incurred by him in the trust management of property, at the expense of income from the use of this property.

Thirdly, the term of such an agreement cannot exceed 5 years.

In addition, the DDU must be concluded in writing.

In the event that these features are not taken into account when concluding a DDU, such an agreement may be invalidated. So, in judicial practice, there is a decision where the court satisfied the requirement to recognize the contract as invalid, since the defendant did not take any actions for state registration of the transfer of the disputed property into trust (7).

In this regard, it is recommended to include essential conditions in the preschool education institution and comply with the requirements for state registration of a property trust agreement. Note that such an agreement has its own peculiarities in the accounting procedure.

(1) chap. 53 of the Civil Code of the Russian Federation

(2) clause 2 of Art. 1012 of the Civil Code of the Russian Federation

(3) Art. 1013 of the Civil Code of the Russian Federation

(4) clause 2 of Art. 1017 of the Civil Code of the Russian Federation

(5) post. Of the Presidium of the Supreme Arbitration Court of the Russian Federation of December 17, 2002 No. 5861/02

(6) Art. 1022 of the Civil Code of the Russian Federation

(7) post. FAS DO dated 06.09.2011 No. F03-4112 / 2011

Property trust accounting

The accounting by the trustee of the property transferred to him in trust and related accounting objects is regulated by federal law (8), as well as by the instructions on the procedure for recording such transactions developed by the Ministry of Finance of Russia (hereinafter referred to as the Instructions) (9).

Founder accounting

The features of the accounting of the owner of the property are as follows.

The transfer of property objects to trust management is carried out by the founder of the management at the cost at which they are recorded in the owner's accounting records as of the date of entry into force of the "trust" agreement.

Confirmation of receipt of the property transferred to trust management for the founder is a notification of the posting of such property from the manager or a primary accounting document marked "D.U." (copy of the invoice, act of acceptance and transfer, etc.).

The transfer of property objects to trust management is accompanied by the following entries:

DEBIT 68 subaccount "State duty" CREDIT 51

The duty has been paid for the state registration of restrictions (encumbrances) of rights to the immovable property transferred to trust management;

DEBIT 91-2 CREDIT 68 subaccount "State duty"

The amount of the paid fee is included in other expenses;

DEBIT 79-3 CREDIT 01

The transfer of the OS object to trust management is reflected;

DEBIT 02 CREDIT 79-3

Reflected depreciation accrued on the asset transferred to trust management;

DEBIT 19 CREDIT 68

Restored VAT on the residual value of fixed assets transferred to trust;

DEBIT 91-2 CREDIT 19

The amount of recovered VAT is included in other expenses.

Manager's account

In the event that an enterprise is transferred into trust as a property complex as a whole, the accounting by the manager is carried out according to the rules established for a legal entity that has an independent balance sheet.

However, there are some nuances in the accounting procedure for trust management of an enterprise. They are as follows.

The manager must ensure independent accounting of transactions under each trust management agreement, separate from transactions related to his own property. The finished products created in the process of trust management, the work performed, the services rendered, as well as the purchased inventory and securities are reflected in the amount of actual costs for creation, manufacture, acquisition, etc. Accounting for the acquisition and creation of new objects of fixed assets, intangible assets and other long-term investments is kept in accordance with the generally established procedure.

The trustee, having received the property under the DDU, makes the following entries in the accounting:

DEBIT 01 CREDIT 79-3

The OS was received in trust;

DEBIT 79-3 CREDIT 02

The amount of accrued depreciation is reflected;

DEBIT 20 CREDIT 02

Depreciation is charged on fixed assets used in the manufacture of products.

The reflection of income from trust is made as follows:

DEBIT 76 CREDIT 90-1

Reflected income in the form of proceeds from the sale of property management services;

DEBIT 90-3 CREDIT 68

Calculated VAT on remuneration for DDU;

DEBIT 51 CREDIT 76

Received remuneration for DDU.

Note that after the transfer of the real estate object to trust management, the manager records it on a separate balance sheet (hereinafter referred to as the Management Balance) (Section IV of the Instructions). It also reflects the amount of proceeds from the management of such property, received on an open separate current account (account 90 "Sales").

In turn, the remuneration due to the manager is reflected on his own balance sheet (the manager's balance) on the debit of account 76 "Settlements with various debtors and creditors" in correspondence with the credit of account 90 "Sales" (section V of the Instructions).

In other words, the operations of obtaining entrusted property and accounting for remuneration for the management of such property are reflected in different balance sheets.

If, upon termination of the "trust" agreement, the property transferred to trust management, including newly created or acquired property, is subject to return to the founder, then this operation is reflected in the debit of account 79 "Internal settlements", subaccount "Settlements under the trust management agreement" in correspondence with credit of asset accounting accounts. If the agreement provides for other actions in relation to the entrusted property, then the reflection of these operations in accounting is carried out in accordance with the generally established procedure.

(8) Art. 2 of the Federal Law of 06.12.2011 No. 402-FZ

(9) Order of the Ministry of Finance of Russia dated November 28, 2001 No. 97n (as amended on October 25, 2010)

Financial statements

The financial statements of the founder and the manager are different.

The reporting of the founder under the DDU fully includes the data provided by the trustee on assets, liabilities, income, expenses and other indicators, by summing up similar indicators. The founder of the trust management reflects the residual value of fixed assets transferred to trust management in the line "Fixed assets" of the balance sheet (10). If the organization has a large number of fixed assets on its balance sheet or it becomes necessary to show separately the most significant groups of these objects, the organization can enter additional lines to the "Fixed assets" column.

The accounting records of the founder should be drawn up on the basis of the manager's reports. The form of such reports is not legally established, but since January 1, 2013, the forms of primary documents are not mandatory (11). In this case, the forms of primary accounting documents are approved by the head of the economic entity on the proposal of the official who is entrusted with the accounting. Thus, it is advisable to fix the reporting forms, on the basis of which the financial statements will be formed, in the DDU property.

Note that in the balance sheet of the founder of the management data on account 79 "Intrafarm settlements", subaccount "Settlements under the contract of trust management of property" are not included.

The features of drawing up financial statements by a trustee are as follows. Fixed assets transferred under DDU are accounted for on a separate balance sheet and separately from the manager's own property. Data on such objects as own assets should be shown not by the manager, but by the founder of the trust. Accordingly, the trustee must timely transfer information about the fixed assets to the founder. Therefore, we recommend in the contract to correctly establish the reporting forms, the frequency of their submission and other features related to accounting and reporting documentation for preschool education.

(10) order of the Ministry of Finance of Russia dated 02.07.2010 No. 66n

(11) Federal Law dated 06.12.2011 No. 402-FZ

Taxation of entrusted property


Income tax

Taxation of operations on DDU property is carried out on the basis of Article 276 of the Tax Code.

The tax base for income tax will depend on whether the founder of the management is the beneficial owner or not.

The income of the founder of the trust management within the framework of the agreement is included in its revenue or non-operating income.

Expenses related to the implementation of DDU by property (including depreciation of property, as well as remuneration of the trustee) are recognized as expenses related to production or non-operating expenses of the founder of the management.

Please note that the costs associated with the implementation of trust management are recognized as the costs of the trustee, if the contract does not provide for their reimbursement by the founder of the management (12).

In this case, the trustee is obliged to determine on a monthly accrual basis the income and expenses for the trust management of property and provide the founder (beneficiary) with information on the income and expenses received for their accounting when determining the tax base.

Let us recall that from January 1, 2013, losses from trust management are not taken into account for profit tax purposes either by the founder or the beneficiary (13). However, in the event that the founder is also a beneficiary at the same time, he has the right to recognize, for tax purposes, losses incurred during the validity period of the DDU from the use of the entrusted property.

The operation of transferring property to trust management is not subject to VAT. This is explained by the fact that when the property is transferred to trust management, the ownership right to it does not pass to the trustee. Therefore, such an operation is not recognized by the implementation, i.e. is not a transaction recognized as an object of VAT taxation (14).

But the sale of products obtained as a result of property management will be subject to VAT.

At the same time, if a property is transferred to management by an individual who is not a VAT taxpayer, then the use of this property (for example, rent) will generate a taxable base for VAT, even if the management company is also not a VAT taxpayer (for example, located on the USN) (letters of the Ministry of Finance of Russia dated 12.04.2007 No. 03-07-14 / 13, dated 18.12.2006 No. 03-04-14 / 27).

Property tax

Property transferred to trust management, as well as property acquired under a trust management agreement, is subject to taxation at the founder of trust management (15).

Since the property does not pass into the ownership of the trustee, he is not liable to pay property tax.

National tax

The transfer of immovable property to trust is registered in the Unified State Register of Rights to Immovable Property and Transactions with it as an encumbrance of the title to it (16). The state duty for state registration of restrictions (encumbrances) of rights to real estate is paid by organizations in the amount of 15,000 rubles. (17).

The peculiarity of the payment of the state fee is that it is paid by the founder of the management and the trustee in equal shares (18).

Thus, trust management of property has a number of features related to both taxation and accounting.

For the complex automation of the activities of investment companies, an applied solution "Ortikon: Management of an investment company 8" has been developed. This software product is developed on the 1C: Enterprise 8 platform and is an addition to the standard configuration of the 1C: Accounting 8 program.

The program has a modular structure and is a "Basic Supply", which can be supplemented by the "Trust Management" and / or "Brokerage" modules.

The capabilities of the main supply allow you to automate the accounting and tax accounting of an organization that is a participant in the securities market and reflects financial and business transactions with securities as part of other income and expenses. The main delivery includes a subsystem designed to automate dealer activities. Let's briefly consider the capabilities of this subsystem.

Accounting for securities

The program provides accounting of transactions with various types of financial investments - stocks, bonds, bills of exchange, deposits, etc. The list of types of financial investments can be expanded. For each type of investment, you can specify the type of income - "dividend", "coupon", "interest". For a stock, for example, it can be a "dividend" type of income, which is the amount of annual dividend per share expressed as a percentage in relation to its current market value, for a bond - a "coupon" type of income calculated in proportion to the number of days passed from the date of the bond issue (the date of payment of the previous coupon yield) to the date of the bond transfer.

For securities with a specified circulation period that are not traded on the organized securities market (ORSM), the program provides for the possibility of revaluation in accounting and tax accounting. The revaluation in accounting and tax accounting, in turn, was implemented only for securities traded on the organized securities market.

For securities with the specified coupon yield, you can set the moment of writing off the paid accumulated coupon yield for accounting and tax accounting. Possible write-off options are “upon the sale of a security of this type”, “upon the first coupon redemption after the purchase of the security” or “upon the first coupon accrual after the purchase”.

Securities are accounted for in the Securities hierarchical directory. Some parameters, such as “Group”, “Name”, “Issuer”, “Currency of par”, etc., are general and are indicated for all securities. At the same time, some parameters are significant and are set only for securities of a certain type. For a bond, for example, the redemption of the par value of which is performed by a one-time payment, you can set the flag "Redemption of par." If the security is supposed to receive a coupon yield, then for it you can set the "coupon interest", as well as the "coupon start date" and "coupon redemption date". Coupon yield will be calculated automatically.

The attribute "Transferable security" can be set, for example, for a bill of exchange, which, by definition, can be transferred from the order of one person to the disposal of another. The absence of the sign “Transferable security” in a bill of exchange means that it is a promissory note, which is essentially a bill of exchange. For securities for which the time of payment has been agreed, for example, for a bill of exchange, you can specify payment options - "on presentation of a bill", "on presentation, but not earlier than the specified number of days" and some other options. The sign “Income accumulates in par” indicates that the par value of a security is increased by the amount of income received and can be specified only for securities that have an interest type of income.

For securities traded on the organized securities market, the quotation values ​​are entered, indicating the trading date and the name of the trading platform on which the transactions were made.

To reflect transactions with securities in the accounting, it is possible to set up analytics for accounting and tax accounting. In this case, the specified setting can be performed not only for the type of securities, but also individually for a specific security. Subsequently, when posting documents, accounting and tax accounting entries will be generated in the system in accordance with the settings made.

Accounting for transactions with securities

For registration of such transactions with securities as receipt, disposal, transfer, revaluation and revaluation, accrual of income and payment of income, partial repayment, as well as for REPO transactions, the system uses documents. A REPO transaction is a transaction for the sale (purchase) of securities with the obligatory subsequent repurchase (sale) of securities of the same issue in the same quantity within a period specified by the agreement at a specified price.

Records are kept of additional costs - depository fees, broker commissions and other additional costs. Additional costs can be charged off both when registering an operation and at the end of the month or at any time.

The system implements batch accounting of securities, which can be maintained using the FIFO, LIFO or “average” method.

Along with a simple scheme for buying and selling securities, the system also implements a special business process. This business process provides for the sequential execution of operations according to the "order" - "purchase" - "delivery of securities" - "payment" scheme with the ability to reserve payments and securities, as well as to monitor the current situation with concluded transactions.

It is possible to download data from broker reports. It is also possible to implement loading from reports of other brokers. It is possible to download quotes from the files of the MICEX, the QUIK and RBC Internet trading systems.

The accounting of securities is carried out in the context of brokers, and for each broker - according to different trading floors. To revalue securities for different trading platforms, quotes from a specific trading platform are used.

Provides for keeping records of dividends and accumulated coupon income. Profit is accounted for by securities, brokers and trading floors. It is also possible to take into account profit in the context of investment portfolios.

Trust Management Module

The fiduciary organization accepts financial assets from the client, forms, in accordance with the strategy approved by the client, a portfolio of securities and manages it in the interests of the client for an agreed fee. The features of this type of activity are implemented in the Trust Management module.

Accounting of securities and funds in the module is carried out in the context of clients and agreements with clients. Registration of operations with securities - purchase and sale, transfer, revaluation, revaluation to par, etc. has been implemented. The client's wishes are reflected in terms of portfolio formation and strategy selection. For example, after the client's order to buy bonds, confirmed by the signing of the contract, this operation will be performed in his interests. Implemented the formation of the "Client Report", "Profit and Loss Report", reports on cash and securities, as well as accounting and tax accounting of trust management.

The software product "Ortikon: Management of Investment Company 8" was implemented in the management company "Analytical Center". As a result of automation, the company was able to comprehensively and promptly receive information on operations with financial investments and, as a result, improve the efficiency of its asset management. The software solution has also greatly simplified the customer experience.

To work with the application solution "Ortikon: Management of an investment company 8", the software product "1C: Accounting 8" is required.

Despite the fact that the Russian financial market is relatively young by global standards, the history of its development is quite rich. For almost 30 years, since 1991, several eras of privatization, the bond market and the stock market have changed.

The stages of relations between market participants and consumers changed. From a period when professional organizations had to literally prove their reliability and efficiency, they smoothly moved to a period of recognition and trust. In many respects, this became possible thanks to the development of high-tech systems that make it possible to establish interaction between all market participants.

The regulator has no less influence on the behavior of market participants. If at the very beginning of the formation of the financial market there was no regulatory legislation, then in recent years there has been a tightening of the policy of the Central Bank (CB) and self-regulatory organizations in relation to non-credit financial institutions (NFO).

Evidence of this is the new requirements that all organizations must comply with. For example, the XBRL reporting format, which became mandatory in 2018, with the help of which it is planned to increase the reliability of the transmitted information. Or new legislation that is designed to counteract unfair actions in the financial market. The Central Bank issued a concept of the same name, which should guard the interests of NFO clients, as well as the organizations themselves. All the requirements of the Central Bank are based on transparent information exchange between all parties.

In this regard, none of the NFOs today can no longer work without the prompt receipt and processing of information coming from various sources. Timely and reliable reports are essential for making management decisions and for improving overall performance. In addition, it is necessary to report not only within the company, but also to customers and the regulator.

That is why optimization of business processes and preparation of reports are the most important tasks of all NFIs. Specialized accounting programs can help to solve the indicated tasks.

The main criterion for choosing an automation system is the ability to process and analyze data, a convenient type of information presentation and the number of supported accounting types.

The 1C-Rarus company has extensive experience in the development and implementation of solutions in the industry of non-bank financial institutions. The line of solutions is represented by several products that take into account the specifics of the activities of each segment of the industry:

  • "" Automates the accounting and tax accounting of non-credit financial organizations, including professional participants in the securities market, management companies of mutual funds, microfinance organizations and credit consumer cooperatives. Provides the ability to keep records on a single chart of accounts, taking into account the requirements of industry accounting standards (OSAS) for NFOs.
  • suitable for the automation of internal accounting of professional participants in the securities market, including credit institutions (banks). The product supports accounting for dealer and brokerage activities, asset management. The program allows you to keep internal records and receive reports in accordance with the latest regulations of the Central Bank.
  • designed to automate the depository accounting of organizations operating in the securities market. The product allows you to keep records and receive reports in accordance with the latest regulations of the Central Bank of the Russian Federation for depository activities.
  • is used to automate the accounting of open, interval and closed-end mutual investment funds of all types. The program allows you to keep records and receive in accordance with the latest regulations of the Central Bank.
  • for "1C: Accounting 8" is designed to automate accounting and tax accounting in the securities market in accordance with the principles of RAS. The solution is used by professional participants in the securities market who have a license of a professional participant to carry out activities on trust management of securities to keep records of clients of trust management that are not non-bank financial institutions. It can also be used by other organizations that buy and sell securities, for which this type of activity is not the main one.

For all the listed solutions (except for "1C-Rarus: Securities Accounting, revision 3"), an XBRL module is provided.

The use of modern automated systems based on the 1C: Enterprise 8 platform helps financial companies to professionally organize current operational activities, easily and conveniently maintain accounting and tax accounting, and receive various analytical information for making important management decisions.

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