Last updated: 2026-06-30 · Reading time: 12 min · Topic: NBB Central Point of Contact, securities accounts, FPS Finance access · For: Belgian investors with a securities account at Bolero, Keytrade, DEGIRO, Saxo, IBKR or any other broker
On this page
- What changes from 1 December 2026?
- § 1 What is the CAP (Central Point of Contact)?
- § 2 What do banks and brokers report from 1/12/2026?
- § 3 What can the tax authority now do with this data?
- § 4 What does this mean for you as an investor?
- § 5 Privacy and data protection
- § 6 Practical checklist
- Sources & further reading
What changes from 1 December 2026?
From 1 December 2026 the tax authority will be able to look inside the vault of every Belgian securities account. That is the core of the expansion of the Central Point of Contact (CAP) at the National Bank of Belgium (NBB). Until now, the CAP registered whether you held an account and, since January 2022, aggregated balance amounts per account holder — not the contents per instrument and not per account separately. From 1/12/2026, banks and brokers will also report the individual contents per account: which securities you hold per ISIN code, how many units, and what they are worth.
This changes things for every Belgian investor with a securities account at a Belgian institution. But investors with an account at a foreign broker (DEGIRO, Saxo Bank, Interactive Brokers) are indirectly affected too: their own self-declaration obligation to the NBB CAP remains in place and will be enforced more strictly.
The legal basis for the CAP expansion is the Wet van 18 december 2025 houdende diverse bepalingen (Law of 18 December 2025 on various provisions, published in the Belgian Official Gazette of 30 December 2025, NUMAC 2025009647). The law also introduced new anti-abuse rules for the securities accounts tax (JTER). The doubling of the JTER from 0.15% to 0.30% sits on a separate legislative track — the Programmawet van 30 mei 2026 (Programme Law of 30 May 2026, Doc 56K1378), adopted in plenary on 28 May 2026 and published in the Belgian Official Gazette of 1 June 2026 (edition 2). The new rate of 0.30% applies to reference periods ending on or after 1 June 2026.
What does this mean in concrete terms? Which data is actually transmitted? What can and cannot the tax authority see? And what should you do as an investor? This page provides the answers, based on primary sources and analyses by Belgian tax advisory firms.
§ 1 What is the CAP (Central Point of Contact)?
The CAP is a central register operated by the National Bank of Belgium (NBB). It was set up under the Wet van 8 juli 2018 inzake de identificatie van de houders van financiële rekeningen (Law of 8 July 2018 on the identification of holders of financial accounts, accessed 2026-05-17). The purpose is simple: to give the tax authority a single place to check whether a person holds a bank or securities account in Belgium.
Before the 1/12/2026 expansion, the CAP registered the following:
- Whether you held a current account, savings account or securities account at a Belgian institution (not the contents)
- Whether you held a loan or insurance contract at a Belgian institution
- Your name and national register number and the name of the financial institution
What the CAP did not track before 2026:
- Which securities you actually held (shares, bonds, funds)
- The ISIN codes of individual instruments
- How many units or what value per account
The operational rules are laid down in the Royal Decrees of 7 April 2019 and 22 April 2019. All Belgian banks, brokers, insurers and other financial institutions are required to cooperate.
Who could consult the CAP?
Access was restricted. The FPS Finance could consult the CAP, but only if there was a concrete suspicion of tax evasion, with a reasoned justification. In practice, a CAP query was an exceptional tool, not a routine check. That changes fundamentally on 1 December 2026.
§ 2 What do banks and brokers report from 1/12/2026?
The Wet van 18 december 2025 (BS 30 December 2025) expands the CAP in two ways: more data per account, and per account instead of per account holder.
New mandatory data per securities account
From 1 December 2026, Belgian financial institutions will report, for each securities account:
| Data type | What exactly |
|---|---|
| Account identifier | Unique number per account per institution |
| Account holder | Name and national register number |
| Securities positions | ISIN code per instrument |
| Value | Balance in euro per account |
| Number of instruments | Units per ISIN |
| Account status | Open or closed |
| Powers of attorney | Identity of authorised representatives (* possibly already reported before 2026 — not confirmed as a new field under the Law of 18/12/2025) |
The exact technical field specifications (which ISIN fields, in which format, via which NBB interface) will be laid down in a Royal Decree as referred to in Article 108 §4 of the Law of 18 December 2025 — which had not been published as of the publication date of this article. The table above reflects the data types as described in the law itself (Articles 106–110); the exact technical implementation may differ.
From aggregated to per-account
This is the biggest structural change. Before 2026, banks reported aggregated totals per account holder. From 1/12/2026, they report per account separately. This allows the tax authority to detect splitting structures — where investors spread their portfolio across multiple accounts to stay below the securities tax threshold of €1 million.
Who has to report?
- Belgian banks (KBC, Belfius, ING, Argenta, …)
- Belgian stock-broking firms and brokers (Bolero, Keytrade, …)
- Belgian insurers (for investment-linked insurance)
- Crypto-asset providers established in Belgium (also from 1/12/2026)
Foreign brokers (DEGIRO — the Netherlands, Saxo Bank — Denmark, Interactive Brokers — USA) do not fall under the direct reporting obligation to the NBB CAP. If you hold an account with them, you yourself must report it once via the CAP declaration on opening, and then list it each year in your personal income tax return (see § 4).
Reporting frequency
- Continuously: on the opening or closing of an account — in line with the existing reporting deadlines in the implementing Royal Decrees (typically within 5 working days). The specific deadlines for the new securities data will be set by Royal Decree as referred to in Article 108 §4 of the Law of 18/12/2025.
- Semi-annually: balances as at 30 June and 31 December
§ 3 What can the tax authority now do with this data?
Direct access — no fraud-suspicion requirement
The biggest legal change is the access rule for the FPS Finance. Before 1 December 2026, a CAP query was only possible where there was a concrete and reasoned suspicion of tax fraud — a procedural threshold that made queries rare. From 1 December 2026, the FPS Finance has access to the securities data in the CAP for the purposes of JTER control — without a prior suspicion of fraud being required (Articles 103–104 of the Law of 18/12/2025). Access runs via a structured risk-assessment process (Article 105 §3): files are selected on the basis of risk factors; de-pseudonymisation only takes place where the risk is confirmed. The Simont Braun analysis (March 2026) (accessed 2026-06-30) speaks of “direct access without a fraud threshold.”
What the tax authority can check in practice
- Whether you have correctly declared your securities accounts in your tax return
- Whether the total value of your securities accounts exceeds the €1 million threshold for the JTER
- Whether there is a splitting structure: the same person with multiple accounts to stay below the threshold
- Whether the JTER withheld by your broker matches the actual account values
Integration with Tax-on-Web assessment year 2027
For assessment year 2027 (income / taxable period 2026, return to be filed in 2027), the tax administration is expected to use CAP data for automatic cross-checks in Tax-on-Web (this is a reasonable expectation based on the statutory access, not a confirmed FPS implementation plan as of 2026-05-17). Your tax return will be compared with the CAP records. Significant deviations may lead to a request for information or a tax increase.
Statutory presumption of abuse
The anti-abuse rule for the JTER — introduced by Article 201/4 of the Code on Various Duties and Taxes (WDRT) via the Programmawet van 18 juli 2025 (Programme Law of 18 July 2025, BS 29 July 2025) — introduces a rebuttable presumption of tax abuse for two scenarios, according to the Titeca analysis (December 2025) (accessed 2026-06-30):
- Spreading securities across multiple accounts at different institutions in order to avoid the JTER threshold of €1 million
- Converting dematerialised securities into registered securities (which are exempt from the JTER)
The presumption is rebuttable, but the burden of proof lies with the taxpayer.
§ 4 What does this mean for you as an investor?
(a) Consistency of your tax return
If you hold a securities account at a Belgian broker or bank, that account is visible in the CAP. The values you declare in your tax return (Tax-on-Web) must match the CAP data. Small differences due to rounding or currency timing are normal; large discrepancies will attract the attention of the tax authority.
Practical rule: keep your account statements as at 30 June and 31 December, as those are the two measurement dates for the JTER base.
(b) Foreign brokers — separate NBB declaration remains compulsory
Do you hold an account at DEGIRO (the Netherlands), Saxo Bank (Denmark), Interactive Brokers (USA) or another foreign broker? It does not fall under the automatic CAP reporting. You are required to report each foreign account once to the NBB CAP — at the latest by the filing of your personal income tax return for the year of opening. You do this via the cappcc.nbb.be portal. Thereafter you must list the foreign account each year in your tax return (box XIII A, code 1075). A repeated CAP declaration is not needed as long as the account remains open — but on closing the account (or on changes to the account details), you must also report this to the NBB CAP.
This reporting obligation already existed before 2026 — the CAP expansion does not change the one-off NBB declaration. But the combination of direct FPS access to Belgian accounts and your own declaration of foreign accounts makes cross-checking a great deal more effective for the tax authority.
(c) What is still NOT in the CAP
Not everything is visible via the CAP:
- Crypto assets at foreign platforms (Coinbase, Kraken, Binance, …): outside the CAP, to be declared yourself in your tax return (box XV or box VII — see the separate page on crypto declarations)
- Gold-bar and precious-metal positions: outside the CAP
- Investments held in a company structure: the company account is in the CAP, but your personal return follows different rules
Do not forget that the CAP expansion runs in parallel with the introduction of the capital gains tax on financial assets (Law of 6 April 2026) and the doubling of the JTER to 0.30% (Programmawet van 30 mei 2026, BS 1 June 2026, edition 2 — applies to reference periods ending on or after 1 June 2026). Together, these measures considerably strengthen tax transparency around securities accounts.
§ 5 Privacy and data protection
Legal framework
The CAP falls under the Belgian Law of 30 July 2018 on the protection of personal data (accessed 2026-05-17), which transposes the European GDPR into Belgian law. Oversight is exercised by the Data Protection Authority (DPA / GBA).
In 2020, the DPA criticised the CAP expansion: the centralisation of financial personal data was described as an “unnecessary, particularly far-reaching and risky centralisation” that is not proportionate to the intended objectives, according to DPA Opinion 122/2020 of 26 November 2020, cited in the Tiberghien analysis on Jubel (accessed 2026-05-17).
The legislator nonetheless pressed ahead, but had to build in additional technical safeguards (encryption and strict access control).
Retention period
Data is retained for 10 years after the end of the taxable period in which the account is closed, in accordance with the Law of 8 July 2018 on the CAP and the implementing Royal Decrees (accessed 2026-06-30).
Please note: for the data that the FPS Finance receives under the new JTER control powers, a shorter period applies — a maximum of one year after the limitation of all relevant claims (Article 201/9/7 §1 of the Law of 18/12/2025). The 10-year retention period applies to the CAP register itself.
Who has access to your CAP data?
| Body | Condition |
|---|---|
| FPS Finance | Direct access for JTER control (from 1/12/2026) |
| Justice and police | Via judicial procedure |
| NBB itself | System management and oversight |
| You (account holder) | On request via cappcc.nbb.be |
Retrieving your own CAP data
Via the cappcc.nbb.be portal (accessed 2026-05-17) you can use your eID or itsme app to view your own CAP file. You will see which accounts are registered and which institution reported them. This is a useful check to verify whether all accounts are correctly registered — and to have any errors corrected in good time.
§ 6 Practical checklist
The following actions are recommended before 1 December 2026:
☑ Make an inventory of your securities accounts
Note all accounts at Belgian and foreign institutions: account number, institution, country.
☑ Close unused accounts
Empty accounts stay registered in the CAP until they are formally closed. Close accounts you no longer use.
☑ Check your foreign accounts in the CAP
Have you reported all your foreign accounts to the NBB CAP (a one-off obligation for existing accounts)? Use cappcc.nbb.be. You then list the foreign account each year in your tax return (box XIII A). When you close a foreign account, you must report this again to the NBB CAP.
☑ Keep your account statements as at 30 June and 31 December
These are the two reference dates for the JTER. You will need those statements if your broker has withheld the tax incorrectly or if the tax authority asks questions.
☑ Check the consistency of your AY 2027 return
When you file your tax return for assessment year 2027, check that the declared values of your securities accounts match the semi-annual averages that your broker has reported to the CAP.
☑ Retrieve your own CAP data
Via cappcc.nbb.be you can log in with your eID or the itsme app and consult your file. That way you will know exactly what the tax authority can see.
☑ Consult a tax adviser for complex situations
Multiple accounts at different institutions, a company structure, or a mixed portfolio of Belgian and foreign accounts? Have your situation screened by a recognised tax adviser.
Sources & further reading
Primary sources
- NBB — Central Point of Contact (CAP/CPC) — nbb.be/en/central-credit-registers/cpc (accessed 2026-05-17)
- NBB CAP portal for account holders — cappcc.nbb.be (accessed 2026-05-17)
- Wet van 8 juli 2018 on the identification of holders of financial accounts and financial contracts (legal basis of the original CAP) — via NBB.be (accessed 2026-05-17)
- Wet van 18 december 2025 houdende diverse bepalingen (CAP expansion to securities data + JTER doubling) — published Belgian Official Gazette 30 December 2025, NUMAC 2025009647 — summary via Jubel.be (accessed 2026-05-17)
- FPS Finance — CAP procedure — financien.belgium.be (accessed 2026-05-17)
- Data Protection Authority (GBA / DPA) — gegevensbeschermingsautoriteit.be (accessed 2026-05-17)
Secondary sources — tax advisory firms
- Simont Braun — “Balancing Oversight and Privacy: The New CPC Rules on Crypto and Securities Accounts” (March 2026) — simontbraun.eu (accessed 2026-05-17)
- Titeca — “Amendment to Securities Tax: New Anti-Abuse Rules and Expanded Supervision” (December 2025) — titeca.be (accessed 2026-05-17)
- Tiberghien — “Is the Central Point of Contact becoming a disguised wealth register?” — jubel.be (accessed 2026-05-17)
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