Share savings plan in:

Verified 04 March 2025 - Directorate for Legal and Administrative Information (Prime Minister)

Your situation

  • You would like to have information on the classic bank PEA
Edit

The banking PEA allows the acquisition of a portfolio of shares in European companies while benefiting, under conditions, from a tax exemption. The payment ceiling is €150,000.

Tax domicile

You can open a PEA as long as you resident for tax purposes in France.

Age

You have to be of age to open an AEP.

Signature of a contract

When opening the PEA, you sign a contract with the bank.

The opening date is the date of 1er payment.

The opening date of the plan is 1er payment, and not that of the signature of the contract.

It is prohibited to hold several bank PEAs at the same time.

Indeed, the number of bank PEAs is limited to one per person, and to two per tax shelter.

But it is possible to combine a bank PEA and a PEA-SME-mid-cap. In this case, the cumulative payments on the 2 types of plan must not exceed the maximum authorized ceiling for the SME-EAP-mid-cap.

The bank that receives your request to open a bank PEA should inform you of the prohibition on holding more than one bank PEA, and ask you whether you already hold this type of product in another institution or not.

Répondez aux questions successives et les réponses s’afficheront automatiquement

Vous avez choisi

Choisissez votre cas

You represent that you do not hold bank-issued PEAs at another institution

If you declare that you do not hold a bank PEA in another institution, the bank must inform you of the need to ask the tax administration about this.

In this case, you must tell the bank whether or not you agree that the tax authority should provide it with information about the existence of a bank PEA opened on your behalf in another institution.

But you cannot object to the administration informing the bank of the existence of other bank PEAs opened in your name.

The bank cannot open the plan until it has received a response from the tax administration, which must intervene within a maximum of 2 working days.

You agree that the tax authority will disclose the information to the bank

The situation varies depending on the response of the tax administration.

You do not hold a bank PEA at another institution

If the tax authority confirms that you do not hold a bank PEA in another institution, the bank must open the bank PEA to you.

You hold a bank PEA at another institution

If the tax authority informs the bank that you already hold a bank PEA in another institution, the bank must provide you with the information, offering to choose one of the following 3 solutions:

  • Close the existing bank PEA yourself
  • Allow the bank to complete the closure formalities of the existing bank PEA and transfer the funds to the new bank PEA
  • Waive the request to open the new banking PEA
You refuse to allow the tax authority to disclose the information to the bank

The situation varies depending on the response of the tax administration.

You do not hold a bank PEA in another institution

If the tax authority confirms that you do not hold a bank PEA in another institution, the bank must open the bank PEA to you.

You hold a bank PEA at another institution

If the tax authority notifies the bank that you already have a bank PEA in another institution, the bank must refuse to open a new one.

You state that you already hold a bank PEA at another institution

If you declare that you already hold a bank PEA at another institution, the bank must not open a new one for you.

Only the cash payments are allowed.

Cash payments are paid into a cash account, and the cash account is used to finance the purchase of securities that are registered in a securities account.

Not all securities can be recorded in the EAP securities account.

The list of securities that may be included in the PEA is established by law.

Titles that can be directly purchased by the cash account and registered on the bank's PEA are:

  • Shares (except preferred shares), business investment certificates, cooperative investment certificates, mutual benefit certificates and joint certificates of mutual benefit societies
  • Shares of SARLSARL : Limited liability company or businesses with equivalent status, and cooperative businesses' equity securities
  • Preferential subscription rights issued in the context of a capital increase, allocated to the plan holder and relating to listed securities already held on the PEA.

Amounts paid to the bank or insurance PEA may be invested in indirect manner in the following headings:

  • Shares of open-ended investment businesses, businesses of open partnership or specialized financing businesses, which invest more than 75% of their assets in shares, certificates or shares in commercial businesses or mutual or provident societies
  • Shares of mutual funds or specialized funds that invest more than 75% of their assets in shares, certificates or shares in commercial businesses or mutual or provident societies
  • Shares in collective investment undertakings (UCITSUCITS : Collective investment undertaking for transferable securities, SicavSicav : Investment company with variable capital, etc.) established in other EU Member StatesEuropean Union or in a State of theEuropean Economic Area linked to France by a tax treaty, which benefit from the mutual recognition of authorizations and which invest more than 75% of their assets in shares, certificates or shares in commercial businesses or mutual or provident societies
  • Shares of risk-bearing mutual funds that commit to constitute, at the latest by the close of the 4th at least the financial year of the fund 75% of their assets into financial assets eligible for the European quota
  • Shares or units of collective investment funds which undertake to constitute, at the latest by the close of the 4th at least the financial year of the fund 75% of their assets in financial instruments eligible for the European quota and issued by businesses with their head office in an EU countryEuropean Union or in an EU countryEuropean Economic Area
  • Securities of AIF approved and authorized to use the name "ELTIFon condition that they undertake to invest directly or indirectly the European quota in businesses having their seat in an EU countryEuropean Union or in an EU countryEuropean Economic Areaand that they do not directly or indirectly hold physical assets.

To find out if a title can be included in your PEA, you can consult its description on a stock exchange website or in a specialized journal.

The title description indicates whether it is eligible for the EAP.

As of December 6, 2016, amounts paid into the AAP cannot be used to acquire securities held outside of the AAP by:

  • Plan holder
  • Person he/she lives with as a couple
  • Ascending or descendant

Répondez aux questions successives et les réponses s’afficheront automatiquement

Vous avez choisi

Choisissez votre cas

Before 5 years

Partial withdrawals before age 5 result in plan closure, except in the following cases:

  • Recovery or company creation
  • Dismissal, invalidity or early retirement of the holder or of the holder's Civil partnership or partner
  • Withdrawal from the plan of securities of businesses in liquidation

After 5 years

Partial withdrawals after 5 years shall not result in the closure of the plan.

The plan continues to work and new payments can be made.

The remuneration of the PEA is uncertain, as it depends on the stock market return of the investment vehicles chosen (shares or shares inOPC).

In the case of a good return on the investment vehicles, the remuneration of the PEA may come from dividends and interest generated by the investments or from the capital gains realized on the occasion of the sales.

FYI  

The EAP does not offer a guarantee of capital conservation. It is therefore possible that you will lose some of the money invested in case of poor performance of the investment media.

The ceiling for payments to the Bank AEP is €150,000. Its calculation does not take into account the gains made since the opening of the plan.

The EAP income tax depends in particular on the date of withdrawal.

The revenues of the PEA are subject to the social security contributions regardless of the date of withdrawals.

The following operations result in the closure of the EAP:

  • Any withdrawal before 5 years (except in authorized cases of withdrawal)
  • Non-compliance with one of the operating conditions (e.g. exceeding the ceiling on payments)
  • Death of the holder
  • Withdrawal after 5 years of all sums or values and conversion of capital into life annuity

Who can help me?

Find who can answer your questions in your region