Everything about the PEA plan d´epargne equity


stock market savings action plan


Which may be licensed as a PEA.

A solution available to all. A PEA can be subscribed by any taxpayer tax resident in France, at the rate of a PEA by taxpayer (or 2 per household in the case of a joint taxation). The tax your dependants (children for example) may not hold a PEA.



Recommended duration: 5 years minimum.


The taxation of income of the PEA notably depends on the date of withdrawal. PEA income are subject to social security levies irrespective of the date of withdrawal.

Date Type of withdrawal Taxation of capital gains on the PEA (tax on the net gain in overall balance of the PEA) Fate of the PEA in the event of withdrawal
Before 2 years Total 38% (22.5% tax + 15.5% of payroll) Closing
Between 2 and 5 years Total 34.5% (19% tax + 15.5% of payroll) Closing
Between 5 and 8 years Total 15.5% of payroll Closing
After 8 years Partial 15.5% of payroll But open new payment prohibited
After 8 years Total or exempt annuity of income tax 15.5% of payroll Closing



Before 8 years, a partial same withdrawal causes the automatic closing of the PEA (outlaw Dutreil).

After 8 years, you can make withdrawals without closing of the PEA. However, since then, new payments are possible.


Only cash payments are allowed. Payments are fuelling a species account. The sums paid on account-cash to buy securities that are then registered on a securities account. The following titles may appear on a credit PEA:

  • Shares, investment certificates, shares of SARL
  • Units in collective investment undertakings (UCITS, SICAVs, etc.)

To learn if a title can appear in your PEA, you can see its description on a website of Exchange or in a specialized newspaper. The description of the title indicates whether it is eligible for the PEA.

Statements of account.

Free annual statement of your PEA on December 31.

Monthly statement of your cash account when the PEA has worked in the past month.


For what use? What good does do?

The PEA is a good fiscal envelope for an investment on the stock exchange or in SMEs, generally this investment is beyond 5 years, otherwise is that speculate you and the PEA thus has less interest for you.

My advice, a PEA in a bank offering low management traded as boursorama charges and it is the jackpot.


What is PTP?

A PEA is a stock Savings Plan. It is a tax envelope in which you can invest up to € 150,000 in cash to acquire certain securities of companies French and European. Under certain conditions of detention and functioning, the PEA to benefit from an exemption of taxes on capital gains and dividends.

What is the SME PEA?

PEA – SME is a new Plan of savings in shares created by the draft finance law for 2014.

PEA – SME is intended for the financing of small and medium-sized enterprises (SMEs) and of the intermediate size companies (ETI) and is available from 01/01/2014.

PEA – SME works like a traditional PEA (a single PEA – SME per person, and two PEA – SMEs per household). The tax benefits of PEA – SMEs are the same as for a normal PEA.

Who can open a PEA or PEA – SMEs?

Major french tax residents can open a PEA and a PEA – SME, the status of do not already hold one and independent being fiscally.

Within a same household tax, there may be two PEA and two PEA – SMEs (those of the taxpayer and those of his spouse).

In addition, the PEA and PEA – SMEs are always individual accounts (it can not be opened PEA or PEA – SME attached).
I already have a Savings Plan into action, can I open another in another institution?

Not it can be opened only a PEA by taxpayer or spouse (or partner pacsed) subject to joint taxation (dependants cannot open pea).

On the other hand, you have the option to transfer your PEA at another institution. This operation may cause a transfer fee of.

The characteristics of your PEA will remain unchanged.

Do I have interest to open a PEA with a low sum today?

This solution allows ' to date '. Indeed, the first payment date is the date of opening of the PEA and determines its tax system to the output.

It is useful to benefit from advantageous fiscal framework:

If you want to now save gradually.
If you think devote most important capital for this type of savings in the years to come.

Can I transfer my French shares listed my account ordinary securities to my PEA?

No, you can feed your PEA only by transfers of species in a global limit of EUR 150 000 for the duration of the plan. The pace of payments is free.

Can I continue to make payments on my PEA over 8 years?

Yes, as long as no withdrawal has been achieved, it is possible to continue to make payments within the overall limit of EUR 150 000.

What happens to the eighth anniversary of the PEA?

After 8 years, your PEA retains all its advantages. You can continue to actively manage your portfolio.

After the 8th anniversary (calculated from the date of the first payment), you have the possibility to carry out withdrawals of securities or cash without lead to termination of the PEA. However, as soon as the first withdrawal, any new payment is prohibited.

I have a PEA, what happens in the event of death?

The PEA is automatically closed, the Securities and cash being transferred on ordinary accounts of the Subscriber. Are transferred into an account specific regular titles and the PEA species are paid on the deposit account.

Is it useful to open a PEA to prepare his retirement?

If your project is build you a capital for your retirement and that this corresponds to your investor profile then the PEA can offer you an ideal tax for gradually build you a retirement capital.

Beyond the eighth year, you can:

make one-time withdrawals in securities and cash,

opt for an annuity tax free (excluding social security contributions) out.

The closing of my PEA following my change of status tax such trained mandatory sale titles?

Since March 20, 2012, the transfer out of France of the fiscal domicile of the holder of a Plan d'Epargne en Actions (PEA) does more automatically the closure of the plan, unless the transfer is done in a State or territory Non Cooperative (ETNC). In all cases, a fence of PEA may be effected by transfer to an account ordinary titles of securities held in the PEA.

I moved abroad, can I keep my PEA and my PEA – SME?

If you have a PEA or PEA – SMEs and that you become a non-resident you are obliged to close the account. It may continue to run even though you are no longer french tax resident. However a non-resident cannot always open a PEA or PEA – SMEs.

What is the maximum deposit on a PEA?

The maximum deposit (ceiling) is € 150,000 payment.



Statutory instruments.

Definition and functioning of the PEA

Definition and functioning of SMEs – ETI PEA

Opening of a PEA

Opening of the small PEA – ETI and thresholds of the eligible enterprises to SMEs – ETI PEA

Notes and references.

  1. Hervé CAUSSE, «the banker has no obligation to counsel with respect to the investment of a PEA (Cass. com, 8 April 2015)»[archive]
  2. http://www.lemonde.fr/Economie/article/2013/08/26/Moscovici-annonce-Le-Lancement-d-UN-pea-destine-au-financement-de-pme_3466352_3234.html [archive]
  3. «Taxation financial – PEA»[archive], Expert and Finance
  4. "The PEA tax", on lafina[archive]ncepourtous, March 11, 2014
  5. "The reasons to invest on the stock exchange", broken on September 7, 2014. 'Over 20 years, shares have never registered negative return, unlike bonds and other investments' "life financial neophyte 200 guide" (version of 16 January 2005 on the Internet Archive)
  6. Bulletin of the Bank of France, June 2006, Chapter 2.4, box 3: dis[archive]tribution of the composition of the PEA portfolios between shares of UCITS (58.8%) and actions (41.2%)
  7. http://www.Assemblee-Nationale.fr/14/Projets/pl1395.asp#P4905_461163[archive] monetary and financial Code
  8. http://www.latribune.fr/entreprises-finance/20131119trib000796580/pea-PME-Les-Societes-qui-en-profiteront-ne-sont-pas-forcement-celles-qui-en-ont-besoin.html [archive]
  9. http://www.lerevenu.com/Bourse/actualites/20130917523817994cc3f/Trop-dactions-et-pas-assez-dobligations-dans-le-futur-pea-PME [archive]
  10. http://www.lesechos.fr/entreprises-Secteurs/finance-marches/ACTU/0203238593528-peu-de-Reseaux-bancaires-sont-dans-les-starting-blocks-642562.php [archive]
  11. http://www.lesechos.fr/entreprises-Secteurs/finance-marches/ACTU/0203233093313-pea-PME-Les-Gestionnaires-d-Actifs-en-ordre-de-Bataille-642591.php [archive]
  12. http://www.toutsurlesplacements.com/pea-PME-Les-Banques-veulent-une-passerelle-avec-le-pea.html [archive]
  13. http://www.pea-PME.fr/decryptages-et-analyses/Observatoire-pea-PME/pea-PME-panne-seche-OU-demarrage-lent-quelles-perspectives [archive]
  14. http://www.revenuagricole.fr/focus-Gestion/Gestion-fiscalite-Epargne/Gestion-fiscalite-Epargne-3/14540-eco-Hebdo-Le-Petit-train-des-pea-PME-Calendrier-du-BCE [archive]
  15. http://www.lefigaro.fr/Argent/2014/01/06/05010-20140106ARTFIG00467-Les-Francais-veulent-epargner-davantage-en-2014.Ph  [archive]
  16. http://www.economie.gouv.fr/files/plf2014-dossier-Presse.PDF[archive] Page 107
  17. http://www.economie.gouv.fr/reforme-du-plan-Epargne-en-acti[archive]ons Ministry of economy
  18. Proxy-pubminefi.diffusion.finances.gouv.fr/pub/document/18/15649.PDF
  19. http://lentreprise.lexpress.fr/gestion-et-finance/Le-futur-pea-PME-Encore-en-chantier_44130.html [archive]
  20. Article Les Echos of 03/06/2014 [archive]
  21. http://www.Assemblee-Nationale.fr/14/CRI/2013-2014/20140063.asp#P95947 [archive]
  22. www.Assemblee-Nationale.fr/14/amendements/1395C/an/768.PDF
  23. http://www.Assemblee-Nationale.fr/14/amendements/1547/CION_FIN/CF154.asp [archive]
  24. http://www.lefigaro.fr/Conjoncture/2013/12/12/20002-20131212ARTFIG00633-Christian-Eckert-veut-limiter-Les-Abus-sur-le-pea-et-le-pea-PME.php[archive].
  25. http://www.Assemblee-Nationale.fr/14/amendements/1640/an/78.asp [archive]
  26. http://www.legifrance.gouv.fr/affichTexte.do;jsessionid=499B50B41EFF77FF9E4CD337F5345554.tpdjo09v_2?cidTexte=JORFTEXT000028399511&dateTexte=&oldAction=rechJO&categorieLien=id&idJO=JORFCONT000028399508#JORFARTI00002840040 [archive]
  27. http://www.toutsurlesplacements.com/pea-PME-Decret-sur-les-PME-ETI-eligibles-prevu-en-Fevrier.html [archive]
  28. http://www.Boursier.com/actions/actualites/news/marches-Le-CAC-PME-arrive-a-Paris-568977.html [archive]
  29. http://Argent.Boursier.com/Epargne/actualites/pea-PME-du-retard-a-lallumage-1318.html [archive]
  30. http://www.journal-officiel.gouv.fr/publication/2014/0305/joe_20140305_0054_sx00.html?verifBaseDir=/verifier&notVerif=0&verifMod=load.php&verifExplMod=attente.php&ficBaseDir=../publication/2014/0305&joDate=05/03/2014#test6 [archive]
  31. http://Bourse.lesechos.fr/Valeurs-moyennes/Le-Grand-flou-sur-les-valeurs-eligibles-au-pea-PME-958804.php [archive]
  32. http://Bourse.lesechos.fr/infos-conseils-boursiers/actus-des-marches/analyses-opinions/Bercy-ne-donnera-Pas-de-Liste-des-valeurs-eligibles-au-pea-PME-959544.php [archive]
  33. http://proxy-pubminefi.diffusion.finances.gouv.fr/pub/document/18/17222.PDF [archive]

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