Russia's Finance Ministry wants to fine citizens who fail to tell tax authorities about their financial activities and bank account operations abroad.
A draft law published on the minitry's website on September 8 would make it mandatory for Russian citizens to report on these operations as of January 1, 2015.
The proposal appeared to be part of a Kremlin push to prevent Russians from keeping their money abroad.
President Vladimir Putin signed a law last year prohibiting senior officials and their spouses and minor children from holding bank accounts abroad.
Based on reporting by minfin.ru and finmarket.ru