LMNP deadline: The essentials to know about tax returns

La date limite du LMNP est à respecter, au risque de s'exposer à des pénalités financières et de compromettre le statut fiscal. Quel que soit son régime fiscal d'impôt (micro-BIC ou régime réel), une activité de location en meublé non professionnel se doit de déclarer ses revenus locatifs à temps.

Tout retard de dépôt de déclaration de revenus de location avec meuble ou de la liasse fiscale LMNP, donne lieu à des majorations d’impôt (jusqu'à 40 %). Des intérêts de retard vont s'ajouter mensuellement au lot. Pire encore, l'activité de location en meublé risque d'être dépouillée de ses avantages fiscaux. Dans ce cas, la rentabilité LMNP (loueur en meublée non professionnel) risque d'en pâtir.

Les obligations de déclaration de revenus locatifs LMNP (loueur en meublée non professionnel) diffèrent selon le régime fiscal d'impôt (micro-BIC ou réel simplifié) choisi. Elles s'avèrent plus simples avec le régime micro-BIC. Avec ce régime, il suffit d'une déclaration de revenus locatifs directement avec les revenus locatifs. Nul besoin donc de produire une liasse fiscale complexe.

Pour rappel : le micro-BIC régime permet de bénéficier d'un abattement forfaitaire de 50 % sur les revenus locatifs bruts. Une remise ne requérant aucune justification et qui a le mérite de couvrir les charges liées à la location avec meuble LMNP. Le BIC régime convient aux investisseurs LMNP (loueurs en meublée non professionnel) engrangeant, chaque année, des revenus locatifs inférieurs à 77.700 €. En bonus, la gestion administrative de la location avec meuble est plus qu'allégée.

LMNP declaration: Tax obligations in detail

La date limite du LMNP ramène aux obligations fiscales liées à tous types de revenus locatifs. Ceux issus de l'activité de location avec meuble saisonnière (résidences secondaires et touristiques) impliquent, par exemple, une déclaration de revenus locatifs en mairie.

Chaque ville ou circonscription peut à son tour imposer d'autres formalités à remplir. De même, le bien loué doit également respecter des normes spécifiques. Autant de règles à respecter, afin de se conformer aux obligations légales liées à l'impôt.

Furnished rental income concerned

Rental income from LMNP (non-professional furnished rental) must be the subject of a rental income declaration under BIC (Industrial and Commercial Profits). This includes rents received for classic rentals, furnished rentals for the year and seasonal rentals. All models that prove to be very popular for their flexibility and profitability.

Concernant une activité de location saisonnière (résidence secondaire ou résidence tourisme), elle est également soumise à des obligations de déclaration de revenus particulières. Les revenus locatifs engrangés seront effectivement intégrés dans le calcul des revenus soumis à l'impôt. Une règle qui vaut aussi bien pour le régime micro-BIC que pour le régime réel simplifié. Pour ce dernier, les revenus locatifs doivent être déclarés via une liasse fiscale.

Case of income from short-term furnished rentals

Une activité de location touristique avec meuble est soumise à des règles fiscales spécifiques. Très prisée en LMNP (loueur en meublée non professionnel), cette formule concerne des biens loués pour de courtes durées. Les revenus locatifs générés sont alors soumis à l'impôt dans la catégorie des BIC. L'investisseur a donc le choix entre le régime micro-BIC ou le régime réel simplifié. Respectivement, il profitera de l'abattement forfaitaire de 71 % ou bien de la déduction des charges réelles (travaux, intérêts d’emprunt, etc.) de la base soumise à l'impôt.

For legal obligations, a furnished tourist rental activity requires a prior declaration of rental income to the town hall. An authorization request may be required due to local regulations, such as in Paris. Similarly, the property rented out as furnished tourist rental must comply with legal standards of decency. There must be a precise list of LMNP (non-professional furnished rental) furniture allowing immediate occupation. Finally, the furnished rental activity also involves, apart from tax, the CFE (business property tax).

Transition to LMP status (Professional furnished rental)

The transition to the status of LMP (professional furnished rental) implies more extensive legal obligations and a higher level of tax. It is then necessary to register with the RCS (Trade and Companies Register). Concerning taxation, income from furnished rental activities remains in the BIC tax category. Furnished rental properties are included in the IFI (property wealth tax). In addition, professional furnished rental activities involve the CFE LMNP . Keeping rigorous accounts (including a tax return each year) is then required. These are all obligations that often require the use of the services of an accountant.

Note that the actual regime is imposed with the furnished rental activity LMP. This effectively assumes rental income greater than €23,000 per year. This amount then represents more than half of the income of the tax household. Similarly, the simplified actual system allows the deduction of actual expenses from the taxable base, as well as the depreciation of the property. Property deficits are chargeable to overall income, which suggests a tax reduction.

Declaration of LMNP rental income

The LMNP deadline refers to the declaration of income from the furnished rental activity. Each tax regime (micro-BIC or simplified real) corresponds to specific administrative-tax procedures. To avoid errors that could expose you to sanctions, the most prudent thing is to call on an accountant. 

Declaration to the tax authorities under the micro bic regime

For an LMNP investment (non-professional furnished rental) subject to the micro-BIC regime, the declaration of income generated with a furnished rental activity to the tax authorities is simplified. This process consists of making, each year, a declaration of gross rental income, in the box dedicated to rental income n° 2042 C PRO. As a reminder, only net rental income after deduction is subject to income tax. This is aimed at small investors aspiring to simplified administrative management and optimal taxation.

Declaration of BIC under the actual profit regime

Under the real profit regime, the declaration of rental income from BIC (Industrial and Commercial Profits) requires the maintenance of rigorous accounting. The intervention of an accountant is therefore strongly recommended. In practice, the declaration of rental income consists of recording the income generated with the furnished rental and real expenses (work, loan interest, depreciation of LMNP property , etc.) in an LMNP tax return (non-professional furnished rental). This document must then be filed with the SIE (Corporate Tax Service). The documents to be provided also include form 2031 for the results and form 2033 for the accounting details. 

What is the LMNP tax return?

La liasse fiscale LMNP désigne les documents comptables obligatoires pour toute activité de location en meublé soumise au régime réel. Parmi ceux-ci figure le formulaire 2031 pour le résultat fiscal. On note aussi les annexes 2033-A à 2033-G, incluant les comptes de résultat, bilans et immobilisations. La liasse fiscale permet de calculer le revenu imposable, par déduction des charges réelles (amortissements, intérêts d’emprunt, travaux, etc.) des revenus locatifs. Chaque année, on doit la déposer auprès du SIE (Service des impôts des entreprises). Avec l'aide d'un expert-comptable, mieux vaut bien préparer la liasse en vue des avantages fiscaux.

Role of an accountant in tax management

The chartered accountant is best placed to manage the LMNP (non-professional furnished rental) tax return. His expertise gives him the skills required to keep rigorous accounts. The specificities of taxation (micro-BIC or simplified real) of a non-professional furnished rental activity no longer hold any secrets for him. Calculation of taxable income, optimization of the deduction of expenses, preparation of forms 2031 and 2033 ... So many operations that fall within the competence of a chartered accountant. His know-how ensures the compliance of rental income declarations with the SIE. The risks of errors likely to give rise to sanctions are reduced.

Deadlines to know for LMNP declarations

La date limite du LMNP renvoie aussi à des échéances précises. Mieux vaut s'en rappeler afin d'éviter des sanctions et pénalités. Celles-ci ne sont d'ailleurs pas sans conséquences sur la rentabilité locative. La crédibilité de l'investisseur LMNP (loueur en meublée non professionnel) aux yeux des administration fiscale, peut aussi en pâtir.

Deadlines for different tax regimes

Under the micro-BIC regime, the deadline for declaring rental income is set by the tax authorities. It falls between May and June and corresponds to the tax return each year. Each department has a specific date. It is best to respect it to avoid tax penalties. Note that filing the rental income declaration does not require any complex accounting documents, thanks to the flat-rate deduction of 50%.

Under the BIC real regime, the deadline for filing the rental income declaration and the LMNP tax return is set each year at the 2nd working day following May 1st. A deadline that must be scrupulously respected, in order to avoid tax increases (minimum 10%) or late payment penalties. Complying with this rule is the assurance of optimal management of rental income. Concerning the documents, there is form 2031. There are also the annexes (2033-A to 2033-G) listing the deductible expenses, depreciation and tax results. Documents that must therefore be filed with the SIE.

Overview of penalties for failure to meet deadlines

A delay in filing the LMNP tax return (non-professional furnished rental) or the rental income declaration has serious consequences. In fact, a 10% tax increase is automatically applied. A rate that can go up to 40%, in the event of a formal notice being issued by the tax authorities. There is also late payment interest set at 0.2% per month on the amounts due. Any fraudulent maneuvers will also be punished by an 80% increase. So many sanctions that are likely to impact the LMNP yield .

Tools and support services for LMNP declarations

Several tools and services can simplify LMNP (non-professional furnished rental) declarations . You can find out about these tools from the SIE. It is also possible to go through the online tax portal via impots.gouv.fr. This platform allows you to intuitively fill out forms such as the 2042 C PRO for the micro-BIC regime and the 2031 for the real LMNP regime . Similarly, specialized software is a great help for LMNP (non-professional furnished rental) investors. These include Compta LMNP and Jedeclare.com. Tools that are designed to automate accounting, manage depreciation, and also generate a tax return.

In addition, in order to file your declarations on time, other tips can be considered. For example, you can create a calendar each year indicating the key dates: filing of the LMNP tax return (2nd working day after May 1), declaration of rental income (May-June) and payment of the CFE (business property tax) on December 15. All that remains is to set reminders via a simple smartphone or management tools such as Google Calendar or Notion. Note that LMNP accounting software (non-professional furnished rental) often includes automatic alerts for tax deadlines.

LMNP deadline: Summary of LMNP declarations

LMNP deadline is a term that reminds us of the importance of complying with rental income declaration obligations. Any failure to comply with this recommendation actually exposes us to formidable tax penalties. Similarly, risky declarations result in heavy penalties. This is why we call upon a chartered accountant, ideally a member of a CGA (Approved Management Center). This professional is best placed to make LMNP (non-professional furnished rental) declarations in accordance with the rules of the art.

Furthermore, opting for the actual system proves to be the guarantee of an optimal LMNP (non-professional furnished rental) return. A numerical example can be used to support this hypothesis. Let's take an LMNP investor generating rental income of €30,000 per year. With the micro-BIC system, the flat-rate deduction of 50% reduces the taxable income to €15,000. An amount that will therefore be subject to income tax, as well as social security contributions (17.2%).

Under the actual regime, deductible LMNP (non-professional furnished rental) expenses have a significant impact on taxable income. Let's assume that they are worth €10,000 (works, loan interest, insurance, management fees, etc.). There are also depreciations of the LMNP property and the furniture. This mechanism allows you to deduct an additional €5,000. So many deductions that then result in a pure and simple LMNP tax exemption (taxable income of €15,000 - €10,000 (charges) - €5,000 (depreciations) = €0). As a bonus, the LMNP investor (non-professional furnished rental) will be able to carry forward any deficits. This example demonstrates the interest in choosing the real regime for a property requiring work or financed by a loan.