On May 5, RUS CB published ord on electronic budget procedures.
RUS CB published ord 7041-U on the procedure, composition, and format for submission of information to the electronic budget system.
Follows, RUS CB Oct. 2020 ordinance on unified information system, see rule #88227.
Key Points
The ord defines the procedure, format, and content for authorized banks to submit data to the electronic budget - Russia’s unified system for managing public finances.
It establishes that banks must provide information about opening and closing of special accounts, changes to account details, restrictions on account operations, participants in transactions related to the state of defense order and executed payment instructions.
Information must be submitted no later than 2 business days after account changes.
The process outlined in ord 7041-U aligns with regulations set out under ordinance 5536-U on unified information system of the State defense order.
Effectiveness
The ord enters into force on May 15, 2025 (10 days after official publication).
