Changes in Federal Law 115-FZ: What You Need to Know in 2023

Some aspects of the laws have been overlooked starting this year… It has been exactly 3 months since the beginning of the year, and Alpha has thrown 115-FZ at me, saying let’s provide documents showing where I deposited cash into our bank over the last 3 months, fortunately, they gave me time and haven’t blocked it yet. I need to think of something by tomorrow. This is my first experience with 115-FZ… Withdrawals can only be made in cash, and I cannot bring money to the bank anymore. I need to open an individual entrepreneur (IE), sign contracts, and pay taxes.

Starting in 2026, some changes have been introduced to the law: the list of organizations subject to the law has been expanded, Rosfinmonitoring has been granted the right to establish different control thresholds for different categories of organizations (banks, real estate agencies) considering their specifics and risk levels, the minimum control threshold is set at 5 million rubles, but it can be higher depending on the decision of the authorized body, new client identification rules have been established, and an automatic operation blocking procedure has been introduced.