Short answer
If you were Portuguese tax resident and held a bank, deposit, securities, or brokerage account outside Portugal, check Anexo J even if the account had little or no income. The account itself can be part of the foreign reporting route.
Which accounts should I think about?
- Foreign bank accounts with an IBAN outside Portugal.
- Foreign savings, deposit, or interest-bearing accounts.
- Brokerage accounts such as US, UK, EU, or international investing platforms.
- Accounts holding shares, ETFs, funds, bonds, or other securities.
Why can an account matter without income?
The filing route is not only about tax due. Portal das Financas may ask for identification of foreign accounts as part of the Modelo 3 annex process. If the account also paid dividends, interest, or generated gains, the income side needs review too.
What information should I gather later?
For the checklist, you only need to know whether the account existed. For the actual declaration, collect the institution name, country, account identifier such as IBAN or account number, income statements, tax withheld abroad, and transaction records for sales.
Official sources
Portal das Financas: foreign income and accounts Portal das Financas: Modelo 3 e AnexosFAQ
Do foreign accounts matter if they paid no income?
They can. The account itself can still be relevant to the foreign account section of Anexo J.
Does a US brokerage account count?
Yes, if you are Portuguese tax resident, a US brokerage account should be reviewed as a foreign financial account.
Do I need balances for the quiz?
No. The quiz only needs the routing fact: whether you held the account and what type it was.