What Counts as Box 3 Wealth?

Key Takeaways

Box 3 covers your worldwide assets — not just what you hold in the Netherlands.
Common Box 3 assets include bank accounts, stocks, bonds, crypto, second homes, rental property, and loans you have given to others.
The value is measured on January 1st of the tax year.
Foreign assets are fully included — the Belastingdienst receives data from financial institutions in over 100 countries via automatic exchange agreements (CRS).
If you are unsure whether an asset belongs in Box 3, the safe answer is usually yes — the exceptions are specific and listed separately.

Bank Accounts and Cash

Dutch Bank Accounts

All Dutch bank accounts count as Box 3 savings:

Current accounts (betaalrekening)
Savings accounts (spaarrekening)
Joint accounts — each partner reports their share (50/50 unless legally different)
Business accounts held personally (not in a BV)
Accounts at online banks (Bunq, N26, Revolut, etc.)

The Belastingdienst receives your balance data directly from Dutch banks and pre-fills your tax return.

Foreign Bank Accounts

All foreign bank accounts are included, regardless of the country or currency:

European banks (German, Belgian, etc.)
UK and US bank accounts
Accounts in your country of origin
Multi-currency accounts (Wise, Revolut, etc.)

Values in foreign currencies are converted to euros using the ECB exchange rate on January 1st.

Warning

The Netherlands participates in the Common Reporting Standard (CRS) — an automatic information exchange between tax authorities in over 100 countries. Your foreign bank likely reports your balance to the Dutch Belastingdienst automatically. Not declaring foreign accounts is risky and can result in substantial penalties.

Cash

Technically, large amounts of cash held outside of bank accounts should also be reported. In practice, this is difficult to enforce, but legally it is part of your Box 3 wealth.

Stocks, Bonds, and Funds

All investment securities are classified as investments (overige bezittingen) in Box 3:

Individual stocks — Dutch and foreign, listed and unlisted
Bonds — government bonds, corporate bonds, any fixed-income securities
ETFs (Exchange-Traded Funds) — regardless of where they are listed
Index funds — including accumulating funds that do not pay dividends
Mutual funds — actively managed funds
Options, warrants, futures — valued at market value on January 1st
Structured products — certificates, turbos, etc.

Good to know

Dividends received from stocks are not separately taxed in Box 3 — they are considered part of the deemed return. However, Dutch dividend withholding tax (15%) that was deducted at source can be offset against your Box 3 tax liability. Foreign dividend withholding tax may also be partially creditable.

Pension and Retirement Accounts

Most pension-related investments are excluded from Box 3:

Employer pension funds (pensioen)
Lijfrente (annuity insurance) — deductible contributions are Box 1
AOW (state pension)

However, if you have a self-managed investment account that does not qualify as a recognized pension product, it may fall into Box 3.

Cryptocurrency

All cryptocurrency is classified as a Box 3 investment asset:

Bitcoin, Ethereum, and all altcoins — valued at market price on January 1st
Stablecoins (USDT, USDC, DAI) — classified as investments, not savings
NFTs — valued at market price (or purchase price if no market exists)
DeFi positions — staked tokens, liquidity pool tokens, yield farming positions
Crypto on foreign exchanges — Binance, Coinbase, Kraken, etc.
Hardware wallets and self-custody — still reportable

Valuing Crypto

Use the market value on January 1st at 00:00 CET. For listed cryptocurrencies, use the price on a major exchange. For illiquid or unlisted tokens, use your best reasonable estimate.

Tip

Keep records of your crypto holdings and their values on January 1st of each year. Screenshot your portfolio or export a balance statement from your exchange. This makes filing easier and provides evidence if the Belastingdienst asks questions.

Real Estate (Not Your Primary Home)

Any property that is not your primary residence (eigen woning) falls into Box 3:

Second Homes

A vacation house in the Netherlands or abroad
A property you own but do not live in
Valued at WOZ value (for Dutch property) or market value (for foreign property)

Rental Property

Buy-to-let apartments or houses
Valued at WOZ value, with a possible leegwaarderatio (vacancy ratio) discount if the property is rented out under regulated tenancy
The rental income itself is not taxed separately in Box 3 — it is captured by the deemed return

Foreign Property

Holiday apartments in Spain, France, Portugal, etc.
Property in your country of origin
Valued at fair market value on January 1st
Mortgages on foreign property count as Box 3 debts

Good to know

If you own property in another country, you may also owe property tax there. The Netherlands generally provides relief for double taxation through tax treaties — you can typically claim a reduction on your Dutch Box 3 tax for the foreign property.

Loans You Have Given (Vorderingen)

Money that other people or entities owe you is a Box 3 investment asset:

Personal loans to friends or family
Director-shareholder loans to your own BV (DGA-lening) — subject to special rules and limits since 2023
Deposits or guarantees held by landlords, utilities, etc.
Outstanding invoices (for non-business individuals)

The DGA Loan Rule

Since 2023, loans from a substantial interest holder (aanmerkelijk belang, typically a DGA) to their own BV that exceed €500,000 trigger special tax consequences. The excess is treated as a Box 2 dividend rather than a Box 3 asset. If your loan to your BV is below €500,000, it remains in Box 3.

Other Assets

Art and Collectibles

Paintings, sculptures, antiques — generally included in Box 3 as investments
Wine collections, classic cars, jewelry — if held as investment
Exception: art on loan to a qualifying public museum may be exempt (see What's Excluded)

Precious Metals

Gold bars, silver coins — if held as investment
Gold ETFs or certificates — classified as investment securities

Life Insurance and Annuities

Capital value of certain life insurance policies — if they do not qualify for Box 1 treatment
Endowment insurance (kapitaalverzekering) — may be Box 3 depending on the policy type and date of inception

Vehicles

Cars, boats, caravans — generally not included if used primarily for personal transport
Yachts or boats held as investment — potentially included

Other Financial Products

Crowdfunding investments — classified as investments
Peer-to-peer lending (Mintos, etc.) — classified as investments (loans you have given)
Timeshare — the financial value is Box 3

Worldwide Assets — The Key Principle

As a Dutch tax resident, all your worldwide assets fall into Box 3. There is no exception for assets held abroad. The Belastingdienst expects you to report:

Foreign bank accounts in any country
Foreign investment portfolios
Foreign real estate
Foreign crypto accounts
Foreign pension savings (unless qualifying for exemption)
Any other assets held outside the Netherlands

Automatic Information Exchange

The Netherlands has agreements with over 100 countries to automatically exchange financial account information. Under CRS (Common Reporting Standard), foreign banks and financial institutions report Dutch residents' account balances to the Belastingdienst annually. Under FATCA, US financial institutions do the same.

This means the Belastingdienst often already knows about your foreign accounts before you file.

Common Mistakes

Forgetting foreign bank accounts — especially small balances in your country of origin.
Not reporting crypto — all cryptocurrency is Box 3 wealth, regardless of where it is held.
Assuming rental income is separate — rental income from Box 3 property is not separately taxed; it is captured by the deemed return.
Missing DeFi positions — staked tokens and LP positions still have value and should be reported.
Ignoring jointly held assets — if you share a bank account, each person reports their legal share.
Not reporting loans to your BV — DGA loans to your own BV are Box 3 assets (up to €500,000).