Is it possible to pay dividends from the cash register in 2021 and what are the risks?

The legal topic is very complex, but in this article we will try to answer the question “Issue of Dividends from the Cashier 2021”. Of course, if you still have questions, you can consult with lawyers online for free directly on the website.

Dividends are paid in cash or in kind, that is, other property. Moreover, dividends can only be paid to shareholders in cash. Dividends can be paid to LLC participants either through a cash register or to a bank account. This procedure follows from Article 28 of the Law of February 8, 1998 No. 14-FZ and Article 42 of the Law of December 26, 1995 No. 208-FZ.

The distribution of dividends by an organization not in proportion to the shares of participants in the authorized capital may lead to a dispute with the tax inspectorate. Article No. 43 of the Tax Code of the Russian Federation states that a dividend is income that is accrued in proportion to the participant’s share in the authorized capital.

Payment of dividends to LLC founders in 2021

But even if LLC participants decide to pay cash dividends from proceeds, they need to consider the following. A number of restrictions have been established regarding the expenditure of cash proceeds from the organization's cash desk. The list of purposes for which funds from the cash register can be spent is given in paragraph 2 of the instruction of the Central Bank of the Russian Federation dated October 7, 2021 No. 3073-U. The payment of dividends is not mentioned in it.

The charter of Torgovaya LLC stipulates that the organization pays dividends quarterly. For the second quarter, the organization’s net profit amounted to 50,000 rubles. At the general meeting of participants, which took place in July, it was decided to use this entire amount to pay dividends. The decision was made unanimously.

How to pay dividends to LLC founders in 2021

The decision that dividends will be paid is made at the general meeting of founders.
Accordingly, after it has been carried out, a protocol must be drawn up (in two copies), which must indicate the following information: In the case of payments to a single founder (as well as for a situation with several founders), insurance premiums are not paid, since they are not considered as wages pay. At the same time, the procedure itself is much simpler, since the sole founder can independently make the appropriate decision on distribution and then make the payment. He will receive net profit in full (minus taxes), since his share in the authorized capital is 100%.

Cash settlement limit between legal entities in 2020

Cash payments between legal entities in 2021 are limited by a limit. This is the maximum amount of money in which cash payments can be made between legal entities and individual entrepreneurs. What you cannot spend cash proceeds on, see the article >>>

The company pays dividends based on the minutes of the founders' meeting. Since the cash settlement limit applies only to settlements between counterparties within the framework of an agreement concluded between them, we can conclude that this rule does not apply to the payment of dividends.

08 Feb 2021 juristsib 2704

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Payment of dividends in cash from the cash register to

Then, if the founders decide to pay dividends, it will be necessary to take into account the amounts received by them interim during the year. The following payments made by the owners are not considered dividends:

TARAKANOV Sergey Aleksandrovich Advisor to the State Civil Service of the Russian Federation, 2nd class “In my opinion, the payment of dividends to shareholders in cash is not covered by the disposition of Part 1 of Art. 15.1 Code of Administrative Offenses of the Russian Federation.” *** As we see, JSCs should not be held accountable under either one or the other article of the Code of Administrative Offenses of the Russian Federation, especially under both articles at once.

New rules for receiving and spending cash from the cash register

Loan . The ban on the use of cash proceeds from the cash register applies to both the issuance of loans and their repayment and interest payments. That is, it concerns both parties to the contract - both the lender and the borrower. In addition, the ban on spending proceeds applies not only to contracts concluded between two companies or a company and an entrepreneur, but also to contracts signed with an individual. This could be, for example, a founder who gave a loan to his company. Or a director who, on the contrary, received a loan from the organization. It also does not matter what kind of loan was received or issued - interest-bearing or interest-free.

For exceeding this limit, a fine of up to 50,000 rubles is provided. (Article 15.1 of the Code of Administrative Offenses of the Russian Federation). Moreover, for a long time the question of who the tax authorities have the right to bring to administrative responsibility for this violation remained controversial: both parties to the contract, only the seller who receives cash, or only the buyer who pays with it. Inspectors fined both of them. And the judges recognized this as lawful (resolutions of the FAS Volga-Vyatka District dated November 30, 2010, section No. A28-2959/2010 and the FAS Volga District dated October 12, 2010, section No. A65-6852/2010).

Payment of dividends from the cash register

The creation of a system of compulsory insurance of bank deposits of individuals (CDI) is a special state program. It is implemented in accordance with the Federal Law “On Insurance of Individuals’ Deposits in Banks of the Russian Federation” No. 177-FZ of December 23, 2003.

Despite the fact that the frequency of paying interest on profits is limited to quarterly, there is a legal way to receive revenue on a monthly basis: to do this, you need to divide the amount of assets in equal shares and pay it once a month.

Is it possible to pay dividends from the cash register and pay personal income tax from a current account?

Quote (Nensy): LLC on the simplified tax system (DR). Issued for reporting 1 million rubles. If the accountant returns this amount to the cash desk as unspent, is it possible to pay dividends to the founder (aka the general director) in cash from the cash desk from these funds? Here a chain of problems immediately arises.

refund for previously paid in cash and returned goods, uncompleted work, unrendered services; issuing cash when carrying out operations by a bank payment agent (subagent) in accordance with the requirements of Article 14 of Federal Law of June 27, 2021 N 161-FZ “On the National Payment System” (Collected Legislation of the Russian Federation, 2021, N 27, Art. 3872; 2021, N 53, Art. 7592; 2021, N 27, Art. 3477; N 30, Art. 4084).

Procedure for paying dividends to LLC founders in 2021

However, before making a decision, it is worth considering that the period for paying dividends in an LLC is only 60 calendar days from the date of the meeting. To avoid misunderstandings, you can also indicate specific (smaller) deadlines in the company’s charter. If they are violated, the founders have every right to go to court. Moreover, the period during which they can do this is quite long:

Since dividends are one of the types of income, government bodies represented by fiscal services carefully ensure that the payment does not violate laws and does not infringe on the interests of the state in the form of unpaid taxes.

Payment of wages through the cash register: terms and rules

Wages can be paid to the employee in cash in rubles, as well as in non-monetary form (Parts 1, 2 of Article 131 of the Labor Code). Wages in cash are paid at the place where the work is performed (Part 3 of Article 136 of the Labor Code). To pay wages in cash, the employer ensures that they are available at the organization's cash desk on the day the salary is paid.

In July 2021, amendments were adopted to this article, which come into force on October 3, 2021. The specific date for the payment of wages is still set by the organization, but there is a deadline - no later than 15 calendar days from the end of the period for which it was accrued .

Payment of dividends to LLC founders in 2021

If the founders (individuals) receive dividends in non-cash or cash form (through the cash register), then personal income tax is withheld from these amounts (last year it was 13%, and for non-resident founders - 15%). When the participants/founders are legal entities, they are required to pay income tax on the dividends received. It does not matter under what taxation regime you carry out commercial activities.

It is the factor of legislative regulation of the order of distribution of the net profit of an enterprise that often plays a decisive role for beginning entrepreneurs when choosing a legal form for their business. Having weighed all the arguments, they go to the tax office at the place of registration and write an application to receive documents of an individual entrepreneur. Most businessmen perceive interference in their business activities very negatively. They don’t understand why someone should dictate terms to them on how to manage their honestly earned money.

Is it possible to pay dividends for previous years?

The same position is supported in judicial and other collegial and government bodies. When distributing net income, mention must be made of the existing charter of the institution. At the same time, it is possible and possible to direct income to such needs only in the absence of plans to form a reserve.

Income is paid several times on an annual basis. In some cases they are not paid at all. Dividends are considered a kind of investment, with the possibility of capitalization and extension. Payment to shareholders allows reducing capitalization income and does not require additional savings.

How to pay dividends to LLC founders in 2021

The owners have the opportunity to earn income through participation in the company’s activities, and the procedure for paying dividends to the founders of the LLC is initiated. In order to start listing them, you must follow the instructions.

If you plan to transfer cash that was deposited in the company's cash desk and is not net profit documented according to documents.
The person wishing to receive dividends is no longer the founder of the enterprise, and the contribution he paid has already been returned earlier.
Taxes were not calculated or withheld from the amount paid.

Restriction of cash payments between legal entities

The control procedure itself is entrusted to commercial banks, which are entrusted with the functions of requesting additional information on transactions. Of course, the bank is not officially an inspection body, and the company may refuse to comply with its requirements. However, in such a situation, it will find itself without banking services and, therefore, will not be able to carry out its activities.

the company provides employees with wages, temporary disability benefits and other similar payments;
the company carries out settlements with citizens;
the company issues cash to its employee going on a business trip or based on an advance report.

What does a JSC face for paying dividends from the cash register?

Firstly, in the payment of dividends in cash, inspectors (territorial bodies of the Central Bank of the Russian Federation) may see the company as preventing the shareholder from exercising the rights certified by securities. That is, his rights to receive dividends by non-cash method. Meanwhile, shares in themselves certify the right to receive dividends without any reservation on the method of their payment. And since the shareholder received them in cash, it means that this method of payment suited him. Therefore, his rights are not violated. And complaints on his part are unlikely. But it is better to pay dividends in accordance with the letter of the law. After all, the fine for an organization is no less than 500-700 thousand rubles. The statute of limitations for prosecution is 1 year.

How to legally withdraw money from an LLC current account

According to civil law, funds placed on the current account of an LLC are the property of this company, and not of its founders. Consequently, only a legal entity has the right to dispose of profit; the founders, including representatives of the administrative level, do not have such a right;
In accordance with the norms of the Civil Code of the Russian Federation, organizations have the right to carry out settlement transactions only in non-cash form. The exception is cases when the transfer amount does not exceed 100 thousand rubles. Money received by the LLC as payment for goods and services must be deposited into the organization’s account through a bank. It should be noted that the legislation provides the enterprise with the opportunity to keep a certain amount in the cash register; money in excess of the established limit at the end of the working day should be deposited into the company’s account. This requirement is enshrined in a special instruction of the Central Bank regulating the procedure for cash transactions...”

Let us dwell in more detail on the previously presented methods of withdrawing funds from the LLC current account. Most often, cash withdrawals occur to pay the employees of the enterprise. The payment of wages is provided for by labor legislation; the recipients are employees officially registered with the company.

Payment of dividends through the cash register in 2021

Payment of dividends to a legal entity is carried out according to the same rules, there are only features related to income tax. Thus, the payment of dividends to a legal entity in 2021 is accompanied by a tax transfer to the budget in the amount of 0 to 13%, while personal income tax is always 13%. For foreign citizens and organizations, the personal income tax and income tax rate is 15%. Taxation of dividends to a legal entity in 2021 depends on a number of conditions. To get a 0% rate, you need to have at least 50% of the authorized capital, and own this share for not more than 365 days.

Rule one: only from net profit (after the company has paid taxes).
Rule two: do not issue dividends if there is a fact or risk of bankruptcy, the price of net assets does not exceed the authorized capital, or there are debts to retired members of the company. In order to accrue and pay dividends to the founders, the authorized capital of the company must be paid in full.
Rule three: before paying dividends, you must withhold and then transfer income tax or personal income tax to the budget.
Rule four: in order to pay dividends for the founders of the LLC, there must be no recorded uncovered loss in the financial statements.

Is there a maximum period for issuing money for reporting?

The law does not prohibit giving money to accountants not only for a few days or months, but also for several years. At the same time, it is worth understanding that excessively long periods of time for funds to remain with the accountable must be justified by production necessity, and the funds themselves must be spent on targeted expenses. Otherwise, there may be a risk that regulatory authorities will reclassify accountable amounts as income or an interest-free loan, which entails the need to withhold personal income tax from income (or material benefits).

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IMPORTANT! All organizational issues relating to the procedure for issuing and returning accountable funds should be fixed only in orders, but not in accounting policies. Otherwise, changing this procedure if necessary will be problematic (Clause 6, Article 8 of the Law “On Accounting” dated December 6, 2011 No. 402-FZ).

The procedure for paying dividends to founders of an LLC in 2021

If there are several participants, the distribution will most often be proportional to the share of the contribution to the management company. The amount of dividends per person is determined by multiplying the total amount allocated for distribution by the percentage reflecting the share of participation.

full payment of the management company;
full payment of his share to the retiring participant;
excess of net assets over the amount of the capital and reserve fund, including after the issuance of dividends;
absence of signs of bankruptcy, including after the issuance of dividends.

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But in the real world, stocks are constantly changing in price, there are periods of failures and corrections, as well as rapid recovery. And this is where the power of dividends comes into play: the ability to buy stocks on the decline leads to a significant difference in expected capital - $71,649 in a dividend strategy versus $61,200 in a pure growth strategy.

We recommend reading: Payments to Large Low-Income Families in the Moscow Region

In an ideal world, where the price of growth stocks grows steadily year after year without drawdowns, and the price of dividend stocks is static for all 20 years, the result would be the same. The $10,000 invested would have turned into $61,159 in both cases.

Procedure for distribution and payment of dividends

The source of dividends is the profit of the joint-stock company, on which all taxes have already been paid. That is, net profit is taken into account. Its size should not contradict the financial statements. There is a special form of dividends - on preferred securities. Funds for them can be accumulated from special funds of the joint-stock company.

Profit is calculated only after all taxes have been paid. Participants receive funds in proportion to their share in the authorized capital. The larger this share, the larger the dividends will be. The scope of this concept also includes money that was received in foreign countries, if in the legislation of the latter this income is considered dividends.

OOO is it possible to receive dividends through the organization's cash desk size

Ko - number of ordinary shares
To = (D – Dp) / Ko, where
Ko - number of ordinary shares
D - the total amount allocated by the company for the payment of dividends

(hereinafter referred to as Directive N 1843-U) legal entities and individual entrepreneurs can spend cash received in their cash registers (for goods sold by them, work performed by them and services provided by them, as well as insurance premiums) for the following purposes: - for wages wages, other payments to employees (including social benefits), scholarships, travel expenses; - for payment for goods (except for securities), work, services, payment for previously paid in cash and returned goods, uncompleted work, unrendered services; — for the payment of insurance compensation (insurance amounts) under insurance contracts for individuals.

Payment of dividends to LLC founders: foundations in 2021, tax rate, step-by-step instructions

In addition, the owners must decide whether to pay all or any part of the net profit as dividends. Another issue that needs to be resolved at the meeting is how to distribute profits among participants. This can be done in proportion to the available shares, or according to some algorithm (it must be recorded in the Charter).

The company can make payments to its founders when carrying out activities that result in a positive financial result. It can be determined intermediately based on data from interim financial statements, that is, for 1 quarter, half a year, 9 months.

Dividends cash withdrawal

In addition, this type of organization allows you to open branches and expand the scope of activity. However, along with this, there is also a significant disadvantage - the founders of the company cannot freely dispose of the earned capital. Payment of dividends is carried out according to legally established rules.

To transfer non-cash funds into cash, justified and significant reasons are required. Contents of the article Finances on the current account are considered the property of a legal entity, which is a limited liability company. Based on Article 861 of the Civil Code of the Russian Federation, LLC undertakes to make non-cash payments if their value exceeds one hundred thousand rubles.

How much dividends can Norilsk Nickel pay in 2021: expert forecasts

Information about planned dividend payments is forecast, formed on the basis of the expert opinion of the author. The final decision on the timing of payment and the amount of Norilsk Nickel dividends is announced at the General Meeting of Shareholders of the company. Norilsk Nickel's 2021 dividend forecast is based on a study of the company's 2021 results and other related news.

Norilsk Nickel will pay annual dividends in the amount of 1,479 rubles in 2021. per ordinary share. Most likely, 60% of EBITDA for the reporting period will be allocated for these purposes. Shareholders will be able to receive money in the summer and winter of 2021.

Capital income

Indeed, the possibility of paying dividends in cash depends on the legal form of the organization planning to make payments to the founders. Let's start with LLC. The legislation does not provide for any restrictions on the payment of dividends from the cash register of a limited liability company. Is it possible to issue dividends to the founder of an LLC through a cash register? It is possible if we are talking about an LLC.

LLC and JSC

But dividends cannot be issued from the proceeds from the sale of goods (work, services) received in cash (clause 2 of Directive No. 3073-U). The money must be paid to the participants no later than 60 days from the date of the decision on the distribution of profits (Clause 3, Article 28 of the Federal Law).

Calculation and fixation of profit for a certain period (most often a year);
Deciding on areas for using profits;
Determination of the amount, procedure and timing of dividend payment;
Actual payment - transfer of funds to recipients' accounts, transfer of cash or other assets.

It is worth noting that the source for paying dividends is net profit after taxes and mandatory payments. Parts of profits allocated for investment, development and other purposes cannot be a source for calculating dividend payments.

Source of dividend payment

The following are not considered dividends: payments upon division of property, withdrawal of a participant from the company with the return of his share, increase in the value of a share due to a general increase in the value of the enterprise and other possible income not related to the distribution of profits.

But even if LLC participants decide to pay cash dividends from proceeds, they need to consider the following. A number of restrictions have been established regarding the expenditure of cash proceeds from the organization's cash desk. The list of purposes for which funds from the cash register can be spent is given in the instruction of the Central Bank of the Russian Federation dated June 20, 2021 No. 1843-U. The payment of dividends is not mentioned in it.

The procedure for paying dividends is established by the general meeting of shareholders (participants) (clause 3 of Article 42 of the Law of December 26, 1995 No. 208-FZ, clause 1 of Article 28 of the Law of February 8, 1998 No. 14-FZ). At the same time, the meeting of shareholders must take into account that organizations can receive dividends in cash only to their bank accounts. And citizens - both by bank (upon application) and postal transfer. This procedure is established by paragraph 8 of Article 42 of the Law of December 26, 1995 No. 208-FZ. For LLCs, such a restriction is not established by Law No. 14-FZ of February 8, 1998.

Questions and answers on the topic

A number of restrictions have been established regarding the expenditure of cash proceeds from the organization's cash desk. The list of purposes for which cash from the cash register can be spent does not include the payment of dividends. Thus, cash proceeds cannot be spent on dividend payments; claims may be made for misuse of cash.

Both of these concepts (dividend and profit distribution) are united by Art. 43 of the Tax Code of the Russian Federation, which classifies as dividends any income received by a participant or shareholder as a result of the distribution of net profit in proportion to his share of participation.

Can a JSC pay dividends through a cash desk?

Dividends are paid to persons who were owners of shares of the corresponding category (type) or persons exercising rights under these shares in accordance with federal laws, at the end of the operating day of the date on which, in accordance with the decision on the payment of dividends, persons entitled to receive them are determined (Clause 7, Article 42 of Law No. 208-FZ).

Persons who have the right to receive dividends and whose rights to shares are accounted for by the nominal holder of shares receive dividends in cash in the manner established by the legislation of the Russian Federation on securities. A nominee holder to whom dividends were transferred and who did not fulfill the obligation to transfer them established by the legislation of the Russian Federation on securities, for reasons beyond his control, is obliged to return them to the company within 10 days after the expiration of one month from the date of expiration of the dividend payment period.

The LLC is a small business entity that pays dividends to its participants

Of course, the corresponding restrictions established by acts of the Bank of Russia must be taken into account. Paragraph 2 of the Central Bank Directive dated October 7, 2013 N 3073-U (hereinafter referred to as the Directive) establishes an exhaustive list of purposes for which cash in the currency of the Russian Federation received by the cash desks of legal entities (individual entrepreneurs) for goods sold by them, work performed by them and (or) services provided by them, as well as received as insurance premiums. Payment of the distributed portion of profits (“dividends”) to LLC participants is not included in this list. Therefore, making such payments from cash proceeds received for goods sold (work performed and (or) services provided) is a violation of Directive *(1). However, it is obvious that money previously issued on account, not spent and returned to the cash desk cannot be considered as received by the cash desk for goods sold, work performed or services provided. Consequently, the above restrictions established by clause 2 of the Directions do not apply to the expenditure of such funds.

The LLC Law does not establish a requirement that profits distributed among participants must be paid exclusively by bank transfer or by postal transfer (as provided, for example, by Article 42 of the Federal Law of December 26, 1995 N 208-FZ “On Joint-Stock Companies”) . The procedure for paying part of the company's distributed profit is determined by the company's charter or a decision of the general meeting of company participants (clause 3 of article 28 of the LLC Law). Thus, the fundamental possibility of paying the amounts specified in the question in cash is not excluded by law.

How to receive dividends in cash, bypassing bank accounts, is it possible?

Head of the Department of Legal Regulation of Insurance Premiums of the Department of Tax and Customs Policy of the Ministry of Finance of Russia “Now on the title page of the calculation there are fields “OKVED Code”, “Number of working disabled people”, “Number of workers engaged in work with harmful and dangerous factors.” Previously, you indicated this data in section II. The new report form does not have either Section I or Section II. Instead there are six tables. How to fill them out? Read the recommendations. There you will also find a ready-made calculation example.”

Targeted use of LLC financial resources. What can you use to withdraw money from the current account of an LLC in Russia in 2021? What tools are used to convert non-cash funds into cash. Dear readers! The article talks about typical ways to resolve legal issues, but each case is individual. If you want to find out how to solve your particular problem, contact a consultant: