The need for cash can arise at any time. There are several solutions to the problem. You can apply to the bank for a loan or ask for an interest-free loan from the founder. Under the law, companies can transfer their funds at no cost. But this deal has a lot of nuances.
Definition
An agreement with the founder is an agreement in which one party gives money to the other. The borrower must repay the exact same amount back to the lender. No additional fees are charged.
Types of contracts
- Interest-free loan from the founder. The recipient must return the funds to the creditor at the exact agreed time. But the founder can forgive the debt.
- Short-term loan agreement. Its only difference from the previous one is that the terms of the return of funds are limited to one year.
- Interest agreement. This type of transaction involves the repayment of not only the loan body, but also additional fees.
Features
Article 809 of the Civil Code implies that unless otherwise specified in the document, the loan is deemed repayable. If the amount of interest is not written in the text, then they are calculated at the Central Bank refinancing rate on the day the funds are refunded. Therefore, the note that the interest-free loan is issued from the founder must be stipulated in the text: "There is no commission for the use of funds under this agreement."
Another very important point: Article 807 of the Civil Code stipulates that the contract comes into force from the day the funds are transferred to the organization’s account or deposited at the cash desk. This moment usually comes later than the signing of the papers.
Interest-free loan from the founder: postings
The amount received by the entity is shown as payables. Upon receipt of funds, this article of liabilities increases, and upon return - decreases.
When carrying out such operations there are no incomes and expenses. Depending on the contract duration interest-free loan from the founder is reflected in the accounts:
67 - if money is issued for 12 or more months;
66 - if the term of the contract does not exceed one year.
The loan amount is paid to the cashier or to the current account. For the bank to carry out the second transaction, a copy of the contract with a seal is required. Depositing funds into the cash register is issued by a receipt order:
DT 50 - Kt 66, 67 - receipt of cash in the form of a loan to the cashier;
DT 51 - CT 50 - funds are transferred to the current account. In the comments on the operation, you must indicate that this is borrowed money.
If the loan amount includes VAT, then the following transactions are generated:
DT 58-3 (73-1), CT 68; DT 68, CT 68, sub-account “VAT”.
The repayment of an interest-free loan to the founder is executed by an expense warrant. Funds received through the cash desk are transferred to the organization’s bank account.
Requisites
The provision of an interest-free loan to the founder is made out in writing by the contract. Otherwise, it will be impossible to prove the fact of the operation and conduct transactions in the accounting and control units. The contract is drawn up and signed in two copies: one remains with the lender, the second with the borrower. The countdown starts from the moment the money is transferred. As a confirmation, the borrower can write a receipt indicating the exact amount and date of the transaction. The document can prescribe any other conditions that do not contradict the law. It is not necessary to certify the agreement notarially, but at the request of the parties this can be resorted to. A debt repayment schedule is attached to the contract.
Documents
To complete the transaction, you must provide:
- Passport identifying the borrower. The series and number are entered into the contract. As a rule, you do not need to confirm income, but the lender may require other documents.
- The lender is signed by the CEO.
Interest-free loan from the founder: sample
Contract No.
LLC _______, represented by _______ and _________, have concluded the “Agreement” as follows.
1. Subject
1.1 LLC _______ transfers _____ cash in the amount of ___ rubles, and ___ agrees to return ____ on time. Under this "Agreement" the commission is not provided.
1.2. Money is provided for a period of _____.
1.3 Method of transfer: cash in the amount of ____.
1.4 Method of return: cash transfer.
2. Dates
2.1 The contract is valid ___.
3. Rights and obligations of the parties
3.1 The lender must:
3.1.1 Transfer ____ (rubles) ____ according to the "Schedule for the provision of credit" (Appendix No. 1).
3.2 The borrower must:
3.2.1. Return ____ (rubles) _____ according to the "Loan repayment schedule" (Appendix No. 2).
4. Responsibility
4.1 "Parties" are responsible for the improper fulfillment of obligations in accordance with the laws of the Russian Federation.
4.2 The penalty is paid on the basis of a written request.
4.3. Repayment of the fine does not exempt the “Party” from fulfilling obligations under the “Contract”.
5. Settlement procedure
5.1. "Contract" may be terminated unilaterally after a written request is submitted by the "Party" within ___ days.
6. Force majeure circumstances
6.1 "Parties" are exempt from liability for improper performance of obligations if it was the result of a fire, war, earthquake, flood, strike, etc.
6.2. The “Party”, which cannot fulfill its obligations, must promptly, not later than ___ days, notify in writing about this and provide supporting documents.
6.3 Lack of funds in the borrower's account is not a force majeure event.
7. Other conditions
7.1 “Parties” do not have any oral agreements.
7.2 All correspondence until the conclusion of the "Agreement" loses legal force.
7.3 The document is made in 2 (two) copies in Russian and signed by each of the "Parties".
8. Applications
9. Details
10. Signatures of the parties
Interest-free loan to the founder from LLC
Such a transaction is executed in several stages. Based on the decision of the founders, an agreement is issued to issue cash. On the part of the legal entity, the paper must be signed by another shareholder. Otherwise, the same person will be on both sides of the transaction, and this is contrary to law. When disputes occur, the court will check everything to the smallest detail.
An interest-free loan to the founder from the LLC has its own characteristics. The contract clearly states that the debt must be repaid in the same material form in which it was issued. If the borrower lends goods and materials, then he also receives ownership of them. If the price is specified in the contract including VAT, then the accrued amount must be transferred to the budget, and after repayment of the loan - deducted.
If an interest loan is issued, it is necessary to draw up an invoice that will exempt deferred income from taxation (Article 169 of the Tax Code). The base for calculating VAT increases by the amount of interest on the loan in the part that exceeds the Central Bank refinancing rate.
Property received under the contract is not taken into account when calculating the base for income tax (NPP). But if an equal amount of other things is returned, then it is necessary to calculate their cost. If it is larger than the one lent, it is necessary to include the difference in non-operating expenses. If lower, the amount is not taken into account (1 article 251 of the Tax Code).
Separately, it is worth noting loans between legal entities:
- If the contract does not spell out clear terms, the borrower must repay the debt within a month from the date of request.
- If a percentage agreement is signed, early repayment is possible only by agreement of the parties.
- The document will not be valid if it does not indicate a clear amount of transferred funds, a schedule and method of paying off the debt.
Taxation of cash loans
Income derived from such transactions is not taken into account, since the rules for assessing economic benefits are not spelled out in the Tax Code, even if the company operates on a common scheme. Since this loan has nothing to do with payment for services, you will not have to pay VAT either. If a percentage agreement is signed, then such expenses are taken into account when calculating the tax base, that is, they reduce it. The funds are included in non-operating income, regardless of the organization’s structure.
An interest-free loan to the founder from the organization can also be forgiven. If the founder owned more than 50% of the capital, then the company will not receive income in the form of funds received. According to RAS 19/02, money provided to other organizations is classified as financial investment. To avoid contradictions, it is necessary to reflect these operations on account 58, and in the balance sheet - on line 230 “DZ with a term of more than 12 months” or 240 “Short-term receivables”. To account for interest on loans, it is worth opening separate sub-accounts 58 and 73.
| Criteria for declaring a transaction controlled | Circumstances that make a transaction uncontrollable | |
| Conditions | Annual income, million rubles | |
| One participant pays MET * | More than 60 | Not |
| At least one of the parties to the transaction pays UUSH **, and the other does not apply such regimes | More than 100 | Parties to the transaction - members of one group of taxpayers |
| At least one of the parties does not pay NPP | More than 60 | |
| One of the parties to the transaction:
- is a participant in a regional financial project; - It is engaged in the extraction of hydrocarbons and calculates NPP according to the algorithm given in Art. 275 of the Tax Code |
More than 60 | Are absent |
| No additional conditions | Over 1000 | Parties to the transaction - persons who satisfy the following requirements:
|
| Subject of the transaction - goods of one of the following groups:
|
Over 60 | Are absent |
* MET - mineral extraction tax;
** Unified agricultural tax - single agricultural tax.
An exception
Of great danger is the position of the Ministry of Finance, which stipulates in the regulatory documents the possibility of accounting for the income of the company received from the loan at the market interest rate. But such operations come into view only when the transaction amount is large. The legislation sets a threshold of 600 thousand rubles and two conditions: money is issued in cash, operations are related to real estate.
Taxes charged on interest-free loans to the founder:
- Personal income tax is calculated when there is a benefit from the use of funds. The tax base is 2/3 of the Central Bank refinancing rate. The date of receipt of income is considered the day of return of the debt. In the case of an annuity scheme, tax is accrued in each period. In order not to take into account personal income tax, you need to direct the funds received to the construction or purchase of housing. In this case, a rate of 35% is provided.
- NPP is not held.
- Contributions to social funds are not made, as this is not the direct income of the employee.
Conclusion
The issuance of an interest-free loan to the founder or other natural person is made out by the contract. The document clearly spells out the amount, date of submission, scheme and terms of return. If the loan is issued without additional fees, then this should also be specified in the document.
