Since 2013, ANBIs have been required to publish their financial accounts (ANBI publication requirement). This must be done within six months of the end of the financial year. For the financial year 2015 the information must therefore before 1 July 2016 have been published. Where the financial year differs from the calendar year, a different deadline for publication naturally applies.
Sanction
If an ANBI fails to publish its financial accounts, or fails to do so on time or in full, the Tax and Customs Administration may revoke its ANBI status. This may even be done with retroactive effect.
The withdrawal of ANBI status means that the ANBI is no longer exempt from inheritance and gift tax. Furthermore, gifts and donations made by the ANBI are not exempt from inheritance and gift tax for the recipient, unless the recipient is themselves entitled to claim an exemption.
Donors can no longer claim their donations to an ANBI whose ANBI status has been revoked as a tax-deductible item for income tax purposes.
ANBI Publication
Publication must take place via a publicly accessible website. This may, of course, be the ANBI’s website. In the ANBI register The Tax and Customs Administration must specify the web address where the ANBI’s published information can be found.
The publication must in any event contain:
- name and contact details;
- the RSIN;
- composition of the board, names of board members and the board remuneration policy;
- objective and brief policy plan;
- report on activities;
- financial accountability.
Pure equity funds may publish a more limited set of data.
former ANBI
An ANBI that has lost its status is, of course, no longer required to publish its accounts. As long as the assets of such a former ANBI amount to €25,000 or more on 1 January, the former ANBI must submit an annual return to the Tax and Customs Administration before 1 September, detailing the donations made and changes in the ANBI’s assets.
Failure to comply (or to comply in a timely manner) with this obligation to provide information may result in the former ANBI being liable for an administrative fine of (up to) €20,250.