In summary…
Don't look for a firm that "handles" the Dutreil pact on its own: look for the one that will provide you with, before any signature, An eight-year dated schedule and a list of responsibilities are required. The commitment agreement is drafted by a lawyer or notary, the company's verifications and certifications by a chartered accountant, and the overall framework by a wealth management advisor. Since February 21, 2026, the individual commitment has been in effect for [duration missing]. six years, and no longer four, for any transmission made from that date.
Balmont Conseil is a firm not independent In regulatory terms: he receives commissions on contracts signed, and can also charge €500 (including VAT) per hour for a customized service. The wealth management advisor sets the framework, calculates costs, and coordinates; he does not draft the legal document.
Often, the lawyer talks about the agreement, the notary about the gift, the accountant about the accounts, and no one keeps track of the overall timeline. The signing is easy; it's the eight years that follow that require monitoring.
1. What changed in 2026, in three lines
The Dutreil agreement exempts from transfer taxes 75 % of the value of the securities of a company transferred by gift or inheritance, if holding commitments are met. Law No. 2026-103 of February 19, 2026, the Finance Law for 2026 (Article 8), amended this system: the individual commitment period is extended from four to six years, and certain so-called luxury assets are excluded from the tax-exempt base. These two changes apply to transfers occurring on or after February 21, 2026.
| Condition | Rule in effect as of 24/10/2026 | Starting point |
|---|---|---|
| Collective commitment | At least 2 years, in effect on the date of transfer | Registration of the private agreement, or date of the authentic instrument |
| Capital thresholds (unlisted company) | 17 % of financial rights and 34 % of committed voting rights (10 % and 20 % for a listed company) | During the collective commitment |
| Individual commitment | 6 years (4 years before February 21, 2026) | End of the collective commitment (if the commitment is deemed acquired: registration of the deed of gift, or day of death) |
| Management function | Practiced continuously during the collective commitment, then for the 3 years following the handover | During the collective commitment period, then for 3 years from the date of transfer |
The two durations are added together: eight years minimum from the date of signing the collective agreement. Details of the commitments: collective and individual commitment in 2026 ; calculation : The 75 % exemption explained.
Specifically. Luxury assets that the company does not exclusively use for its business are excluded from the exemption, for the portion of the share value corresponding to them. The BOFiP (French Official Tax Bulletin) specifically mentions housing and residences, passenger vehicles, yachts and pleasure boats, jewelry and precious metals, works of art, collectibles or antiques, racehorses or show horses, wines and spirits, and hunting or fishing equipment (paragraphs 420 to 480). An asset from this list remains subject to the exemption if it has been exclusively used for the company's business for at least three years prior to the transfer (or since its acquisition if more recent), and until the end of the individual commitment period. An inventory of the assets must be prepared before signing.
2. Implementation steps
- Check the company. The scheme applies to companies engaged in industrial, commercial, craft, agricultural, or professional activities. See Which companies are eligible?.
- Check the thresholds. The securities pledged must represent at least 17 % of the financial rights and 34 % of the voting rights of a non-listed company.
- Sign the collective commitment. It binds the donor (or the deceased) and at least one other partner. Since January 1, 2019, a single person can also be bound by it.
- To formalize the commitment through an action. The document is either an authentic instrument or a private agreement. In the latter case, it must be registered to be enforceable against the tax authorities, and the two-year period begins from the date of registration. The BOFiP (Official Bulletin of Public Finances) does not specify a separate notification: the tax authorities receive the registered document along with the inheritance tax return or the deed of gift.
- To designate the person who holds the management position. It is a signatory of the commitment or, after the transfer, an heir or donee who has made the individual commitment. A vacancy in the position is only tolerated if it does not exceed three months.
- Transmit, then submit the documents. With the inheritance declaration or the deed of gift: copy of the registered commitment deed, company certificate, individual commitment of each beneficiary.
- Last six years, then justify it. The company issues a certificate within 30 days of the heir's or donee's request. The documents are sent to the administration within three months of the end of the individual commitment or the service's request. See declarations and certificates to be provided.
After a death, the heirs have six months to complete the commitment.
For the technician. General Tax Code, Articles 787 B (company shares) and 787 C (sole proprietorship), amended by Article 8 of Law No. 2026-103 of February 19, 2026 (BOFiP, ACTU-2026-00114). BOI-ENR-DMTG-10-20-40-10 guidance, version of August 10, 2026: two-year collective commitment and unilateral commitment (§ 70), thresholds (§ 180 and 200), luxury goods (§ 400 to 490), deed and registration (§ 120 and 160), six-month post-mortem commitment (§ 220), six-year individual commitment (§ 330), management function (§ 275, 380 and 390). Reporting obligations: BOI-ENR-DMTG-10-20-40-30 (§ 10, 20, 42 and 75).
3. Who does what: notary, lawyer, accountant, wealth management advisor
The BOFiP (Official Bulletin of Public Finances) does not mandate a specific profession for the commitment; it requires a formal document, either authenticated or a registered private agreement. The choice of professionals is therefore a matter of task allocation, not monopoly. Here is the allocation we recommend.
| Professional | What he does on a Dutreil pact | What you ask him |
|---|---|---|
| Notary | Deed of gift (for shares in a SARL or EURL, it must be notarized) or declaration of inheritance; authentic deed of commitment if you choose it | A schedule of filing dates, and a list of required documents. |
| Lawyer (corporate law or tax law) | Drafts the commitment and the shareholders' agreement; reviews the articles of association; secures the transactions carried out during the commitment period (contribution to a holding company, merger, entry of a shareholder) | A text on the thresholds of 17 % and 34 %, and on what breaks the commitment |
| Chartered Accountant | Prepares company attestations (activity, ownership, management); audits assets to identify excluded assets; retains evidence for eight years | The dated inventory of assets, prior to signing |
| Wealth advisor | Calculates the transfer with and without an agreement; chooses the date; links the agreement to the rest of the estate; maintains the schedule and coordinates the other three | A single schedule, with a designated person for each deadline |
Our firm works with a network of international notaries, lawyers, and accountants; if you already have your own, we will coordinate with them. See also How a firm works with your notaries and accountants.
4. A typical eight-year calendar
Example calculation, not a real case: collective commitment signed and registered on March 1, 2027, donation on April 15, 2027.
| Date | Event | Ruler |
|---|---|---|
| March 1, 2027 | Recording of the collective commitment | The two-year period begins |
| April 15, 2027 | Gift | Filing of the deed, certificate and individual commitment |
| March 1, 2029 | End of collective commitment | Departure of the six-year individual commitment |
| April 15, 2030 | End of the management period | Three years after the transmission |
| March 1, 2035 | End of individual commitment | Six years after the end of the collective commitment |
| June 1, 2035 (example deadline) | Sending the documents to the administration | Within three months of the end of the individual commitment |
5. The traps, and who avoids them
| Trap | Consequence foreseen by the BOFiP | Who is watching him? |
|---|---|---|
| Management function not exercised | Loss of eligibility under Article 787 B | Lawyer, consultant |
| Transfer of securities during the six years | Fees payable on the transferred securities, with late payment interest; surcharges may be applied in case of deliberate non-compliance. | Advisor, beneficiaries |
| Transfer to a third party that brings the transaction below the thresholds | Exemption in principle called into question | Lawyer |
| Contribution of securities to a holding company during the commitment period | The exemption is called into question, unless the contribution meets the conditions of the BOFiP: a holding company at least three-quarters owned by the persons subject to the commitments, managed by one of them, and composed of more than 50% of the shares in the company (see holding company and Dutreil) | Lawyer, chartered accountant |
| Unregistered private agreement | Commitment not enforceable against the administration | Notary, lawyer |
| Certificate requested too late | The company has a 30-day processing time, and the parts need to be sent within three months. | Chartered Accountant |
The administration notifies its reasons by registered letter and allows 30 days for a written response before any review. A gift made by a beneficiary to their descendants during the individual commitment period does not break the commitment if they continue it.
Our position
Signing the agreement is the short part: the following eight years are when the exemption can be challenged by a transfer of shares, a change in management position, or a certificate requested too late. A firm that only talks about the 75 % (French tax code) isn't protecting you. Demand a dated schedule, a designated person responsible for each deadline, and a written answer to one question: who prepares the company's certificate, and by what date? Ask everyone, including us.
Frequently asked questions
Is it necessary to go through a notary for a Dutreil agreement?
Not for the commitment itself: the BOFiP (Official Bulletin of Public Finances) requires a deed, either authentic or a registered private agreement. The notary's role is primarily involved in gifts or inheritances, where documents must be filed.
Does my commitment signed before 2026 still remain for four years?
The date of transfer is what matters: the six-year period applies to transfers made on or after February 21, 2026, according to the BOFiP (French Official Tax Bulletin). If your donation takes place after this date, allow six years, even if the collective commitment was signed earlier.
What happens if an heir sells their shares before the end?
In principle, the exemption is called into question for all the securities that have been transferred to him: he owes the duties, with late payment interest.
Are you preparing a Dutreil pact?
The first meeting is free, in Lyon or via videoconference: bring the capital distribution, the list of beneficiaries and the name of the person who will manage the company.
Book an appointment
The initial consultation is to establish your exact situation and determine if there is anything that can be done—sometimes there is nothing, and we will say so as well. Thirty minutes, with no obligation.
Book an exchange with Balmont Conseil
Alexis Sagnier, financial and real estate investment advisor, insurance broker, AMF certified. ORIAS 13003497. Updated on 24/10/2026.
Official sources consulted
- BOFiP — BOI-ENR-DMTG-10-20-40-10, partial exemption, conservation commitments (version of 10/08/2026)
- BOFiP — BOI-ENR-DMTG-10-20-40-20, questioning of the exemption (version of 10/08/2026)
- BOFiP — BOI-ENR-DMTG-10-20-40-30, reporting obligations (version of 10/08/2026)
- BOFiP — ACTU-2026-00114 of 10/08/2026, Dutreil: luxury goods and individual six-year commitment (law no. 2026-103, art. 8)
- economie.gouv.fr — 2026 Finance Law: what changes for businesses (February 20, 2026)
- Service-Public.fr — Donation of shares in SARL or EURL (sheet F36019, verified on 09/09/2026)
