Politics · France · 1 day ago
France proposes a 17% levy on unclaimed savings
France’s government has proposed a one-off levy on certain unclaimed savings as part of its draft 2027 budget.
The plan concerns inactive, unclaimed funds that have been transferred to the Caisse des dépôts, a public institution that holds them.
They can include money in forgotten bank accounts, Livret A savings accounts, employee savings plans or life insurance policies.
Financial institutions must try to find account holders or beneficiaries before transferring unclaimed funds to the Caisse des dépôts.
The government wants to shorten the time before some of this money can be transferred to the state, and the proposal calls for a 17% levy.
The government expects the measure to raise about €1.4 billion in 2027, while another account puts the estimate at €1.5 billion.
People looking for unclaimed funds can search for them through the Caisse des dépôts’ free Ciclade service, but the draft budget proposal has not yet been presented as an enacted measure.
France’s draft 2027 budget proposes a levy on unclaimed savings, with a rate of 17% stated in BFM Business’s headline.
The measure would apply to inactive, unclaimed funds transferred to the Caisse des dépôts.
The government says it expects the levy to raise about 1.4 billion euros in 2027, while franceinfo reports an estimate of 1.5 billion euros.
The proposal aims to let the state recover some of the money sooner.
People can search for eligible funds through the Ciclade service, which is free but may take several weeks.
- Who
- The French government.
- What
- It proposes a levy on unclaimed savings; BFM Business’s headline gives the rate as 17%.
- When
- In the draft budget for 2027, presented to the Council of Ministers on a Thursday.
- Where
- France; the funds concerned have been transferred to the Caisse des dépôts.
- Why
- To recover some unclaimed money sooner and raise revenue for the state.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
The Eckert law required financial institutions to search for holders of inactive accounts and beneficiaries of unclaimed contracts.
The government presented its draft 2027 budget, which proposes a levy on unclaimed assets.
- Proposed rate
- 17%, according to BFM Business’s headline
- Revenue estimate
- 1.4 billion euros in 2027, according to BFM Business
- Alternative revenue estimate
- 1.5 billion euros, according to franceinfo
- Funds covered
- Inactive, unclaimed sums transferred to the Caisse des dépôts
- Search service
- Ciclade, a free service for looking up unclaimed funds
Sources
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