When to report the actual return on assets (box 3)? 📊💰
On the Belastingdienst website you can find information on when and under what conditions you can report the actual return (“werkelijk rendement”) on assets that fall under box 3 (savings, investments and other assets).
In short:
- The tax office will start sending the first letters from July 2025, but because it concerns more than 10 million letters, the process may continue for several years.
- The letter will state the tax year for which you may report your actual return and the figures for the so-called “fictief rendement” (fictional return) – the return the tax office previously used when calculating your box 3 tax.
- If you only have savings (“spaargeld”) in box 3 – and no other assets – you don’t necessarily have to wait for the letter: you can already check whether it is worthwhile to complete the form.
- Reporting the actual return is not mandatory – you can do it if your own calculation shows that your actual return was lower than the fictional return used by the tax office.
When is it worth considering a report? 🤔💡
If, in a given year, your savings, investments or other box 3 assets had a poor return, losses or very low profitability, submitting your actual return may be beneficial, because it can lead to lower box 3 tax or even a refund of overpaid tax.
If, on the other hand, your actual return was higher than the fictional return, it normally doesn’t make sense to submit the form, because the tax office will apply the method that is most favourable to you anyway.
Important information and deadlines ⏰📅
- Each tax year requires a separate “Opgaaf werkelijk rendement” form.
- In years in which you do not receive a letter, it is still possible in many situations to report your actual return: you can submit the form without a letter, by entering the required data based on your tax return and/or tax assessment (“aanslag”).
- If the form is not submitted within the deadline (for many years 12 weeks, 26 weeks with an adviser), the tax office will revert to taxation based on the fictional return, and no reduction will be applied for your lower actual return.
Checklist – what data do you need to collect? ✅📋
According to the checklist on the Belastingdienst website, before you fill in the “Opgaaf werkelijk rendement” form, make sure you have access to:
- The letter from the tax office (if you received one) with the tax year, the reference number and any information about the fictional return
- Your income tax return for the relevant year and the (provisional or final) tax assessment (“aanslag”) – these contain, among others: “grondslag sparen en beleggen” (tax base for savings and investments) and “voordeel sparen en beleggen” (income from savings and investments)
- Statements from banks/financial institutions, such as interest received, dividends received and the value of investments and fluctuating assets on 1 January and 31 December of the year
- Information on debts in box 3 (this does not include a mortgage on your own home – that falls into a different category), including outstanding balance and interest paid during the year – this can be relevant because debt costs can reduce the actual return
- For foreign assets: the value at the beginning and end of the year, converted into euros, exchange rates used and income received (interest, rent, dividends, etc.) – all properly documented
- If you have a tax partner (fiscale partner), the data must be considered jointly, because the combined assets of both partners determine the box 3 position
Form “Opgaaf werkelijk rendement” – how to complete it 📝💻
On the Belastingdienst website you will find both the explanation and the actual “Opgaaf werkelijk rendement” form. Below is a step-by-step outline of what to do:
1. Log in to “Mijn Belastingdienst” for tax years 2019–2024. For years 2017–2018, a separate paper or online form may be used.
2. Select the tax year for which you want to report your actual return.
3. In the form, indicate whether you have received a letter from the tax office authorising you to report your actual return. If yes, enter the relevant data from the letter. If not, select the “No” option and prepare the necessary data yourself from your tax return and/or assessment.
4. Enter the required data, including:
- Your actual return: total interest and dividends received, changes in the value of investments and other assets, minus costs, minus interest paid on box 3 debts, etc. (The form helps calculate the total after entering the components)
- A comparison with the fictional return (value taken from your tax assessment or the letter)
- If applicable, the allocation between you and your tax partner
5. After completing the form, submit it electronically. The tax office will process your submission: If your actual return is lower than the fictional return, this can result in a revised assessment and a refund. If your actual return is higher, the tax office will usually stick to the fictional return, meaning you won’t be disadvantaged by submitting the form.
6. Keep a copy of the form and all supporting documents, as the tax office may request additional information or clarification.
Summary and guidance for the accountant/analyst 📊👨💼
As an accountant or analyst, it’s useful to pay attention to the following points:
- Check for your client whether they had assets in box 3 in the relevant year and whether they actually paid box 3 tax. If not, there is usually no point in filling in the form
- Compare the actual return (interest, dividends, value changes minus costs and debt interest) with the fictional return. If the actual return is lower, it can be financially attractive to submit the form
- Help the client gather the necessary data: bank and investment statements, documentation of (foreign) assets, loan and interest documentation, relevant decisions and assessments from the tax office
- Pay close attention to deadlines – for many years the “Opgaaf werkelijk rendement” must be filed within 12 weeks (26 weeks with an adviser); generally, there is no extension possible
- Inform the client that doing nothing means the tax office will continue to apply the fictional return, which may be unfavourable if the actual return was lower
- Make sure the client keeps copies of all documents, so that later checks or corrections are easier and no important information is missing