Money, tax and inheritance · French law
French PEA withdrawals: before and after five years
A French PEA’s five-year period runs from the first payment, not necessarily the contract signature. Withdrawal before it expires ordinarily closes the plan, subject to specific exceptions. After five years, a partial withdrawal need not close it. Gains taxation, social levies and special holdings still require separate review. A calendar reference establishes none of those amounts or individual exceptions.
Informational guide. An independent qualified legal review has not been completed.
What you leave withA timing reference tied to the correct evidence and exclusions.
Start with the practical sectionJulie by AlphaDeep
Does contract signature prove the first payment date?
No. Signature and first payment can occur on different dates. Match the starting reference to payment evidence.
Read the referencesConsidering a PEA withdrawal? We can separate first payment, withdrawal and special cases without quoting a net payout.
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How does selling a holding differ from withdrawing from the PEA?
Selling a security inside the PEA and withdrawing money or assets from the plan are different events. Sale proceeds remaining inside the plan are not the same as a withdrawal.
Check the requested operation, amount and effect with the provider. A transaction labelled sale does not necessarily describe money leaving the PEA.
References : Légifrance · article L221-32
Which date starts the five-year period?
The five-year reference starts with the first PEA payment, not contract signature alone. Locate bank evidence of that payment before comparing dates.
Confirm the exact anniversary and a February 29 first payment with the provider. A simple day difference is not a definitive tax answer.
References : Service Public · fonctionnement et retraits du PEA
What changes before and after five years?
Before five years, withdrawal ordinarily closes the plan subject to prescribed exceptions. After five years, partial withdrawal does not close it in the ordinary framework.
Do not apply that last rule to total withdrawal. Plan continuation and taxation of gains are separate questions.
| Event | General reading | Remaining check |
|---|---|---|
| Withdrawal before five years | Ordinary closure | Specific exception and conditions |
| Partial withdrawal after five years | No closure in the ordinary case | Tax and special securities |
| Total withdrawal | Different from a partial withdrawal preserving the plan | Closure and treatment with the provider |
References : Légifrance · article L221-32 · Service Public · fonctionnement et retraits du PEA
How can dates be compared without certifying tax treatment?
The comparator places two dates on a calendar with ordinary scope confirmed. It uses first payment and proposed withdrawal dates.
Exact anniversaries and leap-day cases require provider confirmation. It calculates no social levy, historical gain, exception or legal closure.
References : Service Public · fonctionnement et retraits du PEA
Which date matters when payment follows signature by a month?
In the fictional case, April 1, 2021 first payment matters even though the contract was signed March 1. The proposed October 15, 2026 withdrawal is after the five-year reference.
That establishes neither withdrawal type nor securities treatment. Keep both records rather than substituting signature for payment.
Fictional example: contract signed 1 March 2021, first payment 1 April 2021, proposed withdrawal 15 October 2026. The five-year reference uses the April payment. It validates neither an exception, historical gains nor the levy amount.
References : Service Public · fonctionnement et retraits du PEA
Which exceptions need a separate reading?
Pre-five-year exceptions differ: qualifying business creation/takeover funding, dismissal, specified invalidity or early retirement have their own conditions. Issuer liquidation has a separate title-withdrawal route.
The business-financing route includes allocation conditions and a prohibition on later payments. Do not extend one exception’s effects to all others.
References : Légifrance · article L221-32
Which gains and securities fall outside the simple case?
Income-tax exemption after five years does not eliminate social charges. Gains and their history cannot be reduced to a single rate in this comparator.
Current law also has Article 163 bis H securities/gain provisions with specific effects. These remain outside the ordinary calendar shown.
References : Légifrance · article L221-32 · Service Public · fonctionnement et retraits du PEA
Which bank records support further review?
For further review, request records describing the plan and operation, not just current portfolio value.
- Contract and first-payment evidence.
- Withdrawal request and type: partial, total or relevant securities.
- Gain history and any exception evidence.
- Provider explanation of closure, later payments and levies.
References : Légifrance · article L221-32 · Service Public · fonctionnement et retraits du PEA
What else should you check?
Does contract signature prove the first payment date?
No. Signature and first payment can occur on different dates. Match the starting reference to payment evidence.
References : Service Public · fonctionnement et retraits du PEA
Does a full withdrawal after five years keep the plan open?
No. The ordinary continuation rule concerns partial withdrawal. Distinguish total withdrawal and confirm closure with the provider.
References : Légifrance · article L221-32
Does every early-withdrawal exception allow further payments?
No. The creation/takeover route includes a prohibition on payments after the first relevant withdrawal. Read other exceptions separately.
References : Légifrance · article L221-32
Does income-tax exemption remove social levies?
No. Social charges remain separate. Income-tax exemption does not make every gain free of every levy.
References : Service Public · fonctionnement et retraits du PEA
Do all historical gains have the same social-levy treatment?
This guide uses no universal rate. Examine gain history and special provisions; no social-charge amount is calculated here.
References : Légifrance · article L221-32 · Service Public · fonctionnement et retraits du PEA
Which sources support this page?
Official texts remain in French. The explanations above describe French law. A source check records a reading date; it is not qualified legal review.
- Légifrance · article L221-32Source checked : · Version from 2026-02-21
- Service Public · fonctionnement et retraits du PEASource checked :