French General Tax Code
In forceI. - Public administrations, any establishments or bodies subject to the control of the administrative authority, companies or firms, investment service providers other than portfolio management companies, money changers, bankers, discounters, public or ministerial officers or business agents who are custodians, holders or debtors of securities, sums or assets dependent on an estate which they know to be open must send, either before payment, remittance or transfer, or within fifteen days of these operations, to the competent authority of the State of their department of residence, a list of these securities, sums or assets.
II. - These lists are drawn up on forms made available by the tax department.
III. - Insurance companies, societies, funds or organisations and all other French insurers, as well as the establishments, agencies and branches in France of foreign companies, societies, funds, organisations or insurers, may not be released from any sums, annuities or emoluments owed by them, by reason of or on the occasion of the death of the insured to any beneficiary domiciled in France or abroad, unless on presentation of a certificate issued free of charge by the competent public accountant and stating either that the death transfer tax has been paid or that it is not due.
They may, however, at the written request of the beneficiaries, pay all or part of the sums owed by them in discharge of death transfer tax to the tax department where the declaration of inheritance is to be filed.
The provisions of this III do not apply when all the sums, annuities or emoluments of any kind owed by one or more insurers, by reason of or on the occasion of the death of the insured, do not exceed €7,600 and accrue to successors in the direct line who do not have a de facto or de jure domicile abroad. This measure is subject to the condition that the beneficiary of the insurance submits a written request containing a declaration that the total of said compensation does not exceed €7,600.
This III does not apply to sums, annuities or emoluments of any kind owed to the surviving spouse or the surviving partner under a civil solidarity pact, or to those owed to an organisation exempt from gratuitous transfer duties pursuant to the provisions of article 795.
IV. - The organisations mentioned in I of article 990 I may not be released from any sums, annuities or values owed by them, due to the death of the insured, to any beneficiary until they have declared to the tax authorities the unwinding referred to in I of l'article 1649 ter.
