PEA and departure from France: what happens to the plan?

Leaving France no longer automatically closes a PEA (equity savings plan). The BOFiP (French Official Tax Bulletin, version of July 30, 2024) states this, with one exception: transferring one's tax residence to a non-cooperative state or territory (NCST), which results in closure. Outside of NCSTs, the gains of a non-resident account holder are, according to the BOFiP, exempt from income tax and social security contributions. Regarding contributions made after departure and partial withdrawals by a non-resident, the information provided differs: it is advisable to verify this information with the relevant sources.

This page is incomplete. It reports information from the BOFiP (French Official Tax Bulletin), impots.gouv.fr (French tax website), and service-public.gouv.fr (French public service website), along with their respective dates. A PEA (Equity Savings Plan) is a portfolio of shares: the securities in the portfolio carry a risk of capital loss.

What this page does not cover

• New payments after departure and partial withdrawal by a non-resident. A 2022 page on impots.gouv.fr and the 2024 BOFiP (Official Bulletin of Public Finances) do not present these points in the same way: this page does not publish any rules or deadlines on this subject. It is advisable to verify these information with these sources.
• Social security contribution rates and flat-rate tax rates. No rates are listed: to be verified with official sources.
• The PEA insurance and the taxation of the host country.
• The list of ETNCs. Do not rank any country without the official list.

The plan according to the situation

What the texts say about the possession of the plan

Three sources, three dates.

• BOFiP, BOI-RPPM-RCM-40-50-20-20, § 650 (version of 07/30/2024). Transferring one's tax residence outside of France no longer automatically results in the closure of the plan, except for transfers to a non-cooperative tax jurisdiction. Paragraph 720 adds: "Transferring one's tax residence outside of France no longer constitutes a case of force majeure resulting in the closure of the PEA (equity savings plan).".
• impots.gouv.fr, «Can I keep my PEA?» (modified on 04/07/2022). The page states: "You can open a Share Savings Plan (PEA) if your tax residence is in France." It indicates that the plan can be kept after leaving France, except in cases of relocation to a non-cooperative tax jurisdiction. This version predates the BOFiP (Official Bulletin of Public Finances) version of July 30, 2024.
• service-public.gouv.fr, record F2385 (verified on 22/05/2026). «"You must be a tax resident in France to open and hold a PEA." The information sheet does not address moving abroad and does not mention changing your tax residence among the reasons for closing the account.

The official government website (service-public.fr) and the BOFiP (French tax authority) do not use the same wording regarding holding your savings plan after leaving the country. This page does not resolve the conflict between them. Before leaving, check the status of your savings plan with your institution and the tax authorities.

Departure for an ETNC

For a non-cooperative tax residence (ETNC), the impots.gouv.fr website states: "If you transfer your tax residence to a non-cooperative tax residence, your PEA (equity savings plan) must be closed." The net gain is subject to income tax and social security contributions if the plan is less than five years old, and to social security contributions only if it is more than five years old. Since the closure occurs at the time of the transfer, the exemption available to non-residents does not yet apply. The BOFiP (French Official Tax Bulletin, § 650) follows the same logic: income tax if the plan is less than five years old, and social security contributions in all cases.

Non-resident holder, outside of non-cooperative countries

The gain. The BOFiP (Official Bulletin of Public Finances) states, § 680: "The net gain realized is outside the scope of income tax and social security contributions" when the account holder is a non-resident at the time of closure, withdrawal, or redemption, including before the fifth year. The public service information sheet on social security contributions (verified on 06/30/2026) indicates, in its section for non-residents, the word "No" next to the line "Gain realized or life annuity paid in the event of withdrawal or closure of a PEA (Equity Savings Plan).".

Products during non-residence. The proceeds and capital gains remain exempt from income tax. An exception applies to dividends from unlisted French companies held within the plan: they "are subject to the withholding tax provided for in paragraph 2 of Article 119 bis of the French General Tax Code (CGI) on their entire amount" (§ 660). A claim may result in a tax refund. Details of this refund are not provided here.

Saint-Barthélemy and Saint-Martin. For a holder domiciled in these communities, the net gain remains outside of income tax but "is subject to social security contributions" (§ 690).

The return to France

The BOFiP distinguishes two cases.

• Closure before the end of the fifth year. «"The net gain realized is subject to income tax and social security contributions under the standard rules" (§ 700). A capital loss can be offset against gains of the same nature in the same year or the following ten years.
• Closure after the fifth year. «"The net gain is exempt from income tax but remains subject to social security contributions" (§ 710).

The PEA-PME-ETI

For the transfer of tax residence outside France, the BOFiP of the PEA-PME-ETI writes: "The provisions provided for the PEA are applicable to the PEA-PME" (BOI-RPPM-RCM-40-55, § 410, version of 30/07/2024).

The benchmarks of the PEA itself

The impots.gouv.fr page "Life Insurance and the PEA" (updated on April 8, 2026) reminds us that the PEA allows you to manage a stock portfolio "free of income tax provided you make no withdrawals for 5 years." The contribution limit is €150,000 for the PEA and €225,000 for the PEA-PME-ETI. It does not address the transfer of residence outside of France or non-residents.

PEA and departure from France: a numerical example (fictitious profile)

Situation. Sophie opened a PEA with an initial deposit on March 20, 2023. She leaves France on June 30, 2026 for a state which she knows is not a non-cooperative state.

Issue. What happens to the plan and where is the five-year threshold based on the closing date?

Strategy. Calculate the plan's initial age, then classify four scenarios according to the relevant sections of the BOFiP (Official Bulletin of Public Finances). The BOFiP (sections 700 and 710) refers to the fifth year following the plan's opening; this section does not specify the exact calculation method. Therefore, the scenarios' closing dates are chosen well beyond the threshold, so their classification does not depend on this calculation.

Result. Initially, the plan is 3 years, 3 months and 10 days old, from the first payment on March 20, 2023 (hypothetical profile).

No tax amount is calculated: tax rates are not used. The dates are hypothetical for this hypothetical scenario and do not reflect your actual situation.

PEA and leaving France: what changes depending on your situation

• The destination state, depending on whether or not it is an ETNC.
• The age of the plan, since its opening, and the five-year pivot.
• The nature of the securities : dividends from unlisted securities are subject to withholding during non-residence.
• A return to France and its date.
• Your place of residence Saint-Barthélemy and Saint-Martin follow their own rules for social security contributions.
• Your future payments, to be verified with the BOFiP, impots.gouv.fr and your institution.

The rule depends on your situation. No results are guaranteed.