Small business funds are insured

The Federal Law №322-FZ dated 03.08.2018, which entered into force on January 1, 2019, amended the Federal Law “On insurance of deposits of individuals in banks of the Russian Federation” and extended the system of insurance of bank deposits to small business funds. That is, entrepreneurs, having funds in the accounts of bankrupt credit institutions can return them in the amount of not more than 1 400 000 rubles.

When events insured occur, the law determines the list of documents required for submission to the Deposit Insurance Agency for receiving insurance payment. Also a procedure for the transfer of insurance payments was established.

As of January 10, 2019, more than 2 mln 700 thousand legal entities, falling within the new law, are registered in the Unified Register of small and medium-sized businesses of the Federal Tax Service. In addition, amendments were made to the Federal Law №127-FZ «On Insolvency (Bankruptcy)» dated 26.10.2002. Now, the deposit agreement requirements of small business companies transferred to the Deposit Insurance Agency included in the number of claims of third-priority creditors.

Information about all small business companies and their business activities in full can be obtained by subscribing to access to the Information and Analytical system Globas.