CIT-8FR Filing Deadline: March 31 – Key Date for Family Foundations - JWW Accounting office Poland, Wroclaw, Warsaw

CIT-8FR Filing Deadline: March 31 – Key Date for Family Foundations

The operation of Family Foundations involves the need to properly comply with the provisions of the Accounting Act and tax regulations. Below we present the key obligations related to the preparation and approval of the annual financial statements.

Accounting obligations of a family foundation

A family foundation is subject to the provisions of the Accounting Act. In practice, this means the necessity to:

adopt an accounting policy,
keep full accounting records,
carry out periodic inventories of assets and liabilities,
prepare annual financial statements.

Deadlines and procedure for preparing the financial statements

The annual financial statements must be:

Prepared within 3 months after the end of the financial year (e.g. by 31 March 2026, if the financial year ends on 31 December 2025).
Approved by a resolution of the beneficiaries’ meeting – within 6 months from the balance sheet date (i.e. by 30 June 2026).
Submitted to the registration court – within 15 days of the approval of the financial statements. For family foundations, the competent court is the Regional Court in Piotrków Trybunalski.

An important element of reporting is also the CIT-8FR tax return, which must be submitted to the competent tax office by the end of the third month of the year following the tax year. If the tax year coincides with the calendar year, the deadline is 31 March.

Internal obligations of the foundation

Although they are not subject to external reporting, it is worth remembering about internal obligations such as:

updating the register of assets and the list of beneficiaries,
granting discharge to the foundation’s bodies: the management board, the supervisory board, and the beneficiaries’ meeting.

Financial reporting in a Family Foundation is a key aspect of its operations and requires a good understanding of the applicable deadlines, procedures, and relevant forms. Proper and early preparation for the year-end closing helps avoid potential sanctions and unnecessary stress.