On 30 October 2026, EY Poland published an analysis clarifying the accounting obligations for family foundations (fundacja rodzinna) under Polish law. The article addresses whether family foundations must maintain full accounting records, who is responsible for their preparation, and how these requirements interact with audit obligations. The guidance references the Family Foundations Act and the Accounting Act, highlighting recent interpretative changes by the Ministry of Finance. This is critical for high-net-worth individuals and family offices structuring succession planning through Polish family foundations.
Key Takeaways
- Mandatory Full Accounting: Every family foundation must keep full accounting books regardless of revenue size, differing from commercial companies that may qualify for simplified reporting.
- Responsibility Allocation: The foundation’s management board is personally liable for accurate bookkeeping, with potential penalties for non-compliance including fines and disqualification.
- Audit Interplay: While all family foundations require an audit at least once every four years, the accounting records must be maintained continuously to facilitate the audit process.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement