After registration
Obligations of a family foundation after registration – a calendar for every year
Entry in the register ends the setting up of the foundation and begins its everyday life. Most of the problems I see in operating foundations stem not from a bad statute but from a missed deadline or a document that nobody updated. Below are the recurring obligations – with their legal basis.
Once, right after entry
| Obligation | Deadline | Legal basis |
|---|---|---|
| Reporting to the Central Register of Beneficial Owners (CRBR) | 14 days after entry | Anti-Money Laundering Act |
| A bank account for the foundation (if it could not be opened earlier) – payments with beneficiaries go through a payment account | without delay | Family Foundation Act |
| First meeting of the management board: list of beneficiaries, up-to-date inventory of assets, board by-laws, distribution policy | in the first weeks | Article 27(3), Article 54(1)(4) |
| Accounting books – contract with an accounting firm | from the start of activity | Accounting Act |
With every event
| Event | What to do | Legal basis |
|---|---|---|
| Change of data entered in the register (management board, address, statute) | report to the registry court without delay, at the latest within 7 days | Article 122(1) |
| Contribution of further assets | update the inventory of assets and the proportions for each founder | Article 27(3)–(4), Article 29(2) |
| Birth, death, waiver of entitlements | update the list of beneficiaries | Article 54(1)(4) |
| Payment of a distribution | resolution or decision in line with the statute, transfer from the account, CIT on the distribution and any PIT withheld as remitter – paid by the 20th day of the following month | Article 24q of the CIT Act, PIT Act |
| Change of beneficial owner | update in the CRBR | Anti-Money Laundering Act |
| Expiry of a management board member's term (3 years by default) | reappointment for a further term and report to the register | Article 61(1) |
Every year
| Obligation | Deadline (financial year = calendar year) | Legal basis |
|---|---|---|
| Preparing the financial statements | by 31 March | Accounting Act |
| Meeting of beneficiaries: review and approval of the financial statements | by 30 June | Article 72(1); Accounting Act |
| Filing the financial documents with the register of family foundations | after approval | Accounting Act, register rules |
| The foundation's tax returns – forms and deadlines set by the accountant | under the CIT Act | CIT Act |
| Reports to the National Bank of Poland (NBP) if the foundation has foreign assets or liabilities above the thresholds | according to NBP thresholds and deadlines | Foreign Exchange Act |
At least once every four years
An audit of the foundation is carried out at least once every four years (Article 79(1)). If the foundation's financial statements are subject to statutory audit under the Accounting Act, the audit is carried out every year, before the financial statements are approved (Article 79(2)).
Good practice the Act does not require
- The foundation's file – one place for the deed of foundation, the statute with subsequent amendments, the inventory of assets, the list of beneficiaries, resolutions and minutes. After the founder's death it is the only source of truth for the next generation.
- An annual review of the statute – does the statute still fit the family and the law? 2027 is a good occasion: the rate, rental rules and the rules for partnerships change.
- A written distribution policy – when, how much and according to what criteria. It reduces the risk of hidden profits and family grievances.
The deadlines under the Accounting Act refer to a financial year equal to the calendar year. With a different financial year, they shift accordingly. Articles without the name of an act refer to the Family Foundation Act.
Law as of: 8 November 2026. The text is for information only and is not legal advice in an individual matter.