A second sole proprietor (FOP) account at another bank: will taxes and reporting get harder?

Many entrepreneurs keep a single account for years — with the bank where they once registered their sole proprietorship (FOP). The reason is usually the same: a fear that a second account at another bank will add hassle with reporting and the tax return. But once you look into it, there is really nothing to worry about.

The law does not limit the number of accounts

A sole proprietor has the right to open as many current accounts as needed at different banks — in hryvnia and in foreign currency (NBU Resolution No. 492). You are not obliged to keep your account at the bank where the FOP was registered. No article of the Tax Code requires this.

You won't have to run to the tax office

The most common fear is: "I'll open an account and then I'll have to notify the tax service." In fact, you won't. Since 2019, MTB Bank reports the opening and closing of an account to the tax authorities itself. The only thing required from you is to inform the bank of your FOP status when opening the account.

The tax return does not get more complicated

The key thing to know: a single-tax FOP declares total income — the combined sum of all inflows across all accounts and cash together, not separately for each bank. Whether you have two accounts or five, the return still shows one final figure, with no extra appendices or lines.

Honestly: what you should keep in mind

There is a nuance, but it is organizational, not fiscal. You need to: keep track of inflows across all your accounts and not mix business money with personal money. Important: transfers between your own FOP accounts are not counted as income — otherwise the amount would be doubled. This is easy to get used to, and modern apps show all inflows automatically.

Why a second account is actually beneficial

A separate account is a backup in case of technical failures at your first bank, more flexibility in settlements, and the ability to use better tariffs and special offers.

Open an account at MTB Bank — UAH 0 and fully online

You can open a Mastercard Business corporate card at MTB Bank for free: UAH 0 for opening and UAH 0 for card servicing. Everything is 100% online — through the MTB360 app or the e-Entrepreneur service in Diia. No queues, no branch visits.

And a second account starts saving you money right away. Under the joint offer from MTB Bank and the OKKO fuel station network, you get an increased Fishback: UAH 15/L on petrol and diesel and UAH 10/L on LPG. The limit is 200 liters per month per user, and the offer runs until 31.08.2026.