Interest-free loan agreement between legal entities

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Loan agreement (interest-free)

G. _________________

(date of conclusion of the agreement)

______________________, hereinafter referred to as the “Lender”, represented by _______________________________________, acting on the basis of _____________, on the one hand and

______________________, hereinafter referred to as the “Borrower”, represented by _______________________________________, acting on the basis of _____________, on the other hand, and together referred to as the “Parties”, have entered into this agreement as follows:

Subject of the agreement

1.1. Under this agreement, the Lender transfers the ownership of funds to the Borrower in the amount of (amount and currency of funds), and the Borrower undertakes to return the loan amount to the Lender upon expiration of the period specified in clause 1.2. agreement.

1.2. The loan is provided for a period of _______________.

1.3. The loan provided under this agreement is secured (method of securing the obligation).

1.4. No interest is paid on the loan amount.

Rights and obligations of the parties

2.1. The borrower is obliged:

2.1.1. return to the Lender the received loan amount upon expiration of the period specified in clause 1.2. actual agreement;

2.1.2. ensure the fulfillment of its obligation to the Lender.

2.2. The Borrower has the right to repay the loan amount to the Lender ahead of schedule.

2.3. The Lender is obliged to provide the Borrower with borrowed funds within (period) from the moment of signing this Agreement.

Borrower's responsibility

3.1. In case of delay in fulfilling the obligation to repay the loan amount, interest for the use of someone else's money is subject to payment in the manner and amount provided for in paragraph 1 of Article 395 of the Civil Code, from the day when it should have been returned until the day it is returned to the Lender.

Final provisions

4.1. This agreement is considered concluded from the moment the money is transferred to the Borrower.

4.2. The loan amount is considered repaid at the moment the corresponding funds are credited to the Lender's bank account.

4.3. Any changes and additions are valid if they are in written form.

4.4. This agreement is drawn up in two authentic copies - one for each of the Parties.

Details and signatures

Lender

_______________

Borrower

_______________

Download the document “Loan Agreement (interest-free)”

Sample form of loan agreement without interest 2021

We offer a free form for a loan agreement without interest between individuals and legal entities, valid in 2021:

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Loan options

The Civil Code of the Russian Federation will divide the concept of a loan into real and monetary, interest-bearing and non-interest-bearing.

By virtue of Art. 809 of the Civil Code, any agreement for the loan of things in an amount not exceeding 100,000 rubles, concluded between individuals, is interest-free.

The same article defines as interest-free loans in amounts over 100,000 rubles. in monetary or real terms, unless the text of the agreement provides for interest rates. That is, the basis for classifying a loan agreement as interest-free will be:

mutual agreement of the parties to the agreement in this part;
absence in the text of the agreement of instructions on the interest-bearing nature of the loan.

Comments on the document “Loan Agreement (interest-free)”

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Loan from the founder to his company

Funds or property transferred to the organization by its owner under a loan agreement must be returned, therefore they are not recognized as income of the LLC and are not subject to taxes. In the balance sheet, this is reflected in subaccount 66.03 “Short-term loans” (loan term up to a year) or subaccount 67.03 “Long-term loans” (term more than a year).

Important: repayment of debt to the owner of the company with cash proceeds received for goods or services is not allowed. Money can be returned by non-cash method or in cash withdrawn from the current account (clause 4 of Bank of Russia Directive No. 3073-U dated October 7, 2013).

The loan agreement with the founder is considered compensated, therefore, if the text does not directly indicate that it is interest-free, interest will be charged on the transaction at the Central Bank refinancing rate on the date of repayment of the debt. The law allows funds to be provided without interest, but this condition must be expressly stated in the text.

Sample loan agreement between the founder and LLC

The Tax Code of the Russian Federation has a general rule - when a debtor does not pay interest for using someone else’s money, he receives an economic benefit (which he would have paid as interest). However, if an interest-free loan agreement is concluded from the founder, the organization does not generate taxable income.

The Ministry of Finance has repeatedly recognized that the procedure for determining the benefit and its assessment when receiving an interest-free loan by a legal entity is not established in Chapter 25 of the Tax Code of the Russian Federation. Therefore, the material benefit received from interest-free use does not increase the tax base (letter dated 02/09/2015 No. 03-03-06/1/5149). Thus, a limited liability company has the right to temporarily use the participant’s funds without interest. Savings on interest are not subject to tax.

Is it possible not to repay borrowed funds? Yes, if the debt to the borrower is forgiven. According to Article 415 of the Civil Code of the Russian Federation, a debtor can be released from obligations, provided that this does not violate the rights of other creditors. That is, if the owner has no debts to other persons that cannot be repaid due to refusal to repay the loan, the company’s debt can be forgiven. Debt forgiveness is formalized by a written agreement.

In this case, the legal entity receives non-operating income in the amount of unrepaid debt, which is taxed according to the chosen regime. So, if a company operates on OSNO, the tax rate will be 20% of income. An exception is that an individual lender has a stake in the company of over 50%, then there is no need to pay tax on the amount of the forgiven debt (clause 1 of Article 251 of the Tax Code of the Russian Federation).

Overall, forgiving your organization's debt is not a good investment. The LLC participant will not have any rights to the amount itself or to the possible profits received from its use in the business. If your company requires additional funds, and you expect profit from these investments, it is better to simply increase the authorized capital.

Is it legal to enter into an interest-free loan agreement between legal entities?

An interest-free loan agreement between legal entities is considered to be absolutely legal in the following cases:

1. Loans are not permanent;

2. The agreement states that the loan is interest-free.

If interest-free loans are carried out between two companies on an ongoing basis, then it is likely that the relevant service will be interested in your enterprises. And transactions can be identified as illegal banking activities. It is unlikely that your organization needs lengthy legal proceedings.

The difference in concluding a transaction between individuals. and legal persons is that the former have the right not to enter into a written agreement if the loan amount is ≤ 5 thousand rubles. In organizations, oral form is completely unacceptable. All transactions must be completed on paper.