Accounting and reporting services

Family foundation accounting without errors and delays

Running accounting in a foundation requires knowledge, experience, and familiarity with regulations. Any error in record-keeping or reporting can result in sanctions or loss of beneficiary trust.

At ATF Family Office, we ensure full compliance with the Foundation Law and the Accounting Act, along with maximum transparency and data reliability. Our team of experts ensures that financial documentation is always complete, timely, and audit-ready.

Basic support scope

Bookkeeping in accordance with the Family Foundation Act and the Accounting Act.

Comprehensive preparation of financial statements, including KRS (National Court Register) services.

Separation of foundation assets from the private assets of the founder and beneficiaries.

Who do we address accounting and reporting services to at ATF Family Office?

For family foundations in the creation stage, as well as those actively managing assets or conducting investment activities, who wish to operate in compliance with regulations, in a transparent and secure manner for the founder, beneficiaries, and supervisory bodies.

ATF Family Office guarantees professional accounting services, giving you the assurance that all settlements are conducted in accordance with regulations, and documentation is complete and ready for presentation to supervisory authorities.

Working with ATF Family Office experts also saves time – our Clients focus on the foundation's goals, and we take care of the numbers and deadlines.

Step 1

Diagnosis and scope of service preparation

We are analyzing the structure and specifics of a family foundation, funding sources, and asset management methods.
We define the scope of accounting and reporting support – from day-to-day bookkeeping to the preparation of financial statements.
We are establishing the method of communication and document submission within the scope of the dedicated foundation representative.

Step 2

Implementation of accounting and reporting support

We are implementing accounting principles in accordance with the Family Foundation Act.
We maintain accounting records for the foundation's assets, separating them from the founder's and beneficiaries' assets.
We prepare periodic financial reports, balance sheets, and statements required by the National Court Register and supervisory bodies.

Step 3

Current bookkeeping and reporting

We record transactions in accordance with accounting regulations and standards.
We ensure timely preparation of reports, analyses, and summaries for the grantor and foundation bodies.
We provide support in contacts with auditors, authorities, and financial institutions.

Ensure your foundation's peace of mind, compliance, and professional reporting.

FAQ

We know that establishing and running a family foundation is a big responsibility.

What is a family foundation and when is it worth establishing one?

This tool is for asset protection, succession planning, and orderly management of family finances. It is useful when you want to separate private assets from business assets, maintain long-term control of the company, and ensure clear rules for beneficiary benefits.

What tax benefits can a family foundation offer?

The act provides for tax preferences at the foundation level and special rules for taxing benefits for beneficiaries. In practice, a well-designed structure allows for reducing tax burdens, avoiding double taxation, and safely planning payouts. The key is to tailor solutions to the asset profile and family plans.

How are benefits paid to beneficiaries and the founder taxed?

Taxation depends, among other things, on the degree of kinship, the source and type of benefit, and the foundation's internal documents. The standard practice is to prepare a benefits policy and a payment schedule to take advantage of available preferences and not lose exemption rights.

Does a family foundation pay corporate income tax (CIT) and value-added tax (VAT)?

The foundation is a taxpayer and subject to general rules, but some of its income may benefit from preferences. The scope of CIT/VAT obligations results from the type of activity (e.g., rental, dividends, asset disposal, services). Therefore, before each transaction, we assess the tax consequences and prepare a secure settlement model.

A family foundation can conduct the following activities:

The catalog is limited and focuses on asset management, investing, and activities supporting the statutory objectives. „Operational” activities should remain within the portfolio companies. The foundation acts as the owner and supervisor of these companies.

What is the step-by-step process for establishing a family foundation?

First, we design the charter, the list of beneficiaries, and the benefit rules. Then, we complete the documents, contribute assets, and submit the application to the registry. After registration, we implement accounting policies, compliance procedures, and establish the reporting calendar. We manage the entire process „end-to-end,” including remotely.

What is the cost of establishing and operating a family foundation?

The costs include: court and notary fees, legal and tax advisory services for establishment, ongoing accounting and reporting services, tax advisory services, and (if needed) a family foundation audit. We always prepare a transparent, individualized quote.

What bodies does the foundation have and what does its corporate governance look like?

As a rule, the management board operates, and the articles of association may provide for additional supervisory bodies. Key elements include: clear competencies, resolution-making procedures, a stakeholder register, and well-described compliance processes. This ensures that decisions are predictable and legally sound.

Can a company or real estate be transferred to a foundation, and how should it be accounted for?

Various assets (shares, securities, real estate, rights) can be contributed to a foundation. Each transfer should ideally be preceded by a CIT/PIT/VAT analysis and a review of agreements and collateral. We prepare an asset contribution plan that is tax-efficient and formally secure.

How to prepare a foundation for an inspection or audit?

We begin with a review of the books, verification of documents (articles of incorporation, resolutions, contracts), tax tests (corporate income tax, VAT, benefits), and assessment of procedures. We conclude with a report containing recommendations and the implementation of corrections so that the foundation is ready for an audit and maintains the continuity of its tax preferences.