Currency supervision: timely provision of documents to banks reduces risk of reporting violations

Press service of the State Tax Service of Ukraine, published 12 May 2026 at 10:05 Chapter: News

Carrying out export-import operations, subjects of foreign economic activity must submit documents to the servicing banks in a timely and complete manner.

Timely provision of supporting documents and proper registration of foreign economic operations allow banks to complete currency supervision of residents’ operations in a timely manner. It also allows for formation of correct statistical data for the National Bank of Ukraine.

It is worth considering importance of correctly indicating reliable requisites of banking institutions in customs declarations. Incorrect or outdated details can:

- complicate implementation of currency supervision;

- lead to discrepancies between bank and customs data;

- become additional basis for reporting possible violations and, as a result, further requests from controlling authorities.

In many cases, it is precisely due to untimely or incomplete submission of documents that banks often generate reports of possible violation of payment deadlines.

At the same time, significant part of such notifications is not subsequently confirmed – payers have necessary documents, but they submit them late or only after additional requests from the controlling authorities. Timely interaction of business entities with banking institutions and correct bank requisites in customs declarations will help to:

- reduce number of unfounded reports of violations of currency legislation;

- reduce number of requests from controlling authorities;

- optimize load on banks and controlling authorities;

- increase efficiency of identifying truly risky transactions in the foreign economic activity;

- ensure proper quality of statistical data in the currency supervision.

In this regard, it is recommended for business entities to:

- monitor status of settlements under foreign economic agreements;

- timely update bank requisites in customs declarations;

- maintain constant communication with servicing banks and submit supporting documents in advance, without waiting for additional requests from controlling authorities.