Declaring and Reporting Your New myPOS Account: A Step-by-Step Guide for Bulgarian Merchants

Important: Form SPB-5A will be published soon. This article will be updated as soon as it becomes available.

If you hold an account with a foreign financial institution and use it in your capacity as a legal entity or a sole trader, Bulgarian law requires that you declare it to the Bulgarian National Bank (BNB) and, under certain conditions, report the balances.

This also applies to your new myPOS account in Ireland (myPOS Ltd.), which will be opened once the new Service Agreement with myPOS Ltd. comes into effect.

However, if you use the Service as a self-insured individual, the instructions described in this article do not apply to you.

In short

You will receive a new account with an Irish (IE) IBAN:

  • Within 15 days, you must declare it to the BNB (Form SPB-2)
  • Quarterly reporting is discontinued
  • A new annual report (Form SPB-5A) is introduced and must be submitted only if the total balance across your foreign accounts held with banks, payment institutions, and electronic money institutions is equal to or exceeds EUR 25,000 (or its equivalent) at the end of the year (31 December)
  • The deadline for submitting the annual report is 25 January of the year following the reporting year
  • Submit your declarations on time to avoid fines
  • If the balance is below this threshold, no submission is required
  • In the future, we'll provide an automated way to save you time and effort

A separate declaration is required for each IBAN. You can download it from your account under 'Business Account' → 'Accounts'. Select the relevant account, and you will find the form 'BNB Declaration Form (SPB-2)' below the IBAN certificate.

Note: You can find the SPB-2 form, along with instructions for filling it out, at: https://www.bnb.bg/Statistics/StReportingForms/StRFLegalEntitiesAndSP/index.htm or in the attached copies at the bottom of this article.

Declaring a newly opened account

Why is this necessary?

Bulgarian law requires all accounts of Bulgarian legal entities and sole traders that are opened abroad to be reported to the BNB. This is purely statistical information and is not related to taxes or fees.

In other words, you simply notify the state that you now have an account with myPOS Ltd. (Ireland).

What do you need to do?

Once your new account is active, you have 15 days to submit a declaration (Form SPB-2) to the BNB.

Attached at the bottom of this article, you'll find the Form SPB-2 partially prefilled by us, along with the official BNB instructions. If you prefer a completely blank form, you can find it here: https://www.bnb.bg/Statistics/StReportingForms/StRFLegalEntitiesAndSP/index.htm?fbclid=IwAR0CFAa9Yk6g3fjRjBc9ldkDPC_tHea-iWur_5oUsUzmUBBVHZYcMysk5P0 

What you need to complete in Form SPB-2

  • Section 1 "Data of the local entity – account holder" – enter your company details
  • Section 2.6 "Date of account opening" – the date your myPOS account was opened
  • Declarant details – your personal details as the person submitting the form
  • Signature – complete and sign the declaration

The remaining fields are prefilled for your convenience.

How to submit the declaration

After completing the form, you can submit it in two ways:

  • Online with a Qualified Electronic Signature (QES) via the BNB Integrated Statistical Information System (ISIS) portal
  • On paper – in person at the BNB registry office or by post

If submitted on paper, you must provide two identical originals. The BNB will return one stamped with a registration number within 5 days.

Keep this number for your records.

Reporting obligations for your account

After declaring your account, it's important to understand your reporting obligations to the BNB.

Quarterly reporting is no longer required.

Instead, a new annual report (Form SPB-5A) is introduced.

This report must be submitted only if the total balance across your foreign accounts held with banks, payment institutions, and electronic money institutions is equal to or exceeds EUR 25,000 (or its equivalent) at the end of the year (31 December).

The submission deadline is 25 January of the year following the reporting year.

This reduces administrative burden and makes reporting easier to manage.

Important to know

  • myPOS cannot currently submit the declaration or reports on your behalf
  • Failure to submit them on time may lead to administrative penalties
  • If you close your account, you must submit a corrective declaration (Form SPB-2) to the BNB
  • We are working on automating this process to make it easier for you

We're here for you

We know that administrative steps like these may seem confusing. If you are unsure what to do, contact us at help@mypos.com and we'll be happy to assist.

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