What are PEA and PEA-PME accounts – SaxoConnect

Click here to read the article in French.

Definition

The equity savings plan (PEA) and the equity savings plan for financing small and medium-sized enterprises (PEA-PME) are two savings accounts offered to adults who are tax resident in France, allowing them to benefit from favourable tax treatment.

Subject to certain conditions, dividends and capital gains are exempt from income tax (12.80%), but remain subject to social contributions (18.60% as of 1 January 2026).

The rules applicable to PEA and PEA-PME are available on the official website of the French administration:

Saxo Banque does not offer a life insurance PEA, nor a PEA Jeune (ages 18–25)

Note: the transfer of a Plan d’Épargne en Actions (PEA or PEA‑PME) from one managing institution to another does not constitute a withdrawal; it preserves the account’s tax history.

Opening conditions

Be tax resident in France
Be of legal age
Not already hold a PEA

The opening date recognised by the French tax authorities corresponds to the date of the first payment made into the account.

Contributions

Contributions must be made in cash (bank transfer).

The contribution cap for the PEA is set at €150,000.

The contribution cap for the PEA‑PME is set at €225,000.

It is possible to hold both a PEA and a PEA‑PME, provided that the total amount of contributions to both plans does not exceed €225,000.

Withdrawals

Before 5 years

Except for certain exceptions, any withdrawal before 5 years is a full withdrawal and results in:

Closure of the PEA
Taxation of the net gain at the single flat rate of 31.40%, unless opting for taxation at the progressive scale

Exception (withdrawals allowed before 5 years without closure)

Starting or taking over a business
Note: the withdrawal is not subject to income tax but remains subject to social contributions. No new contributions are possible after this withdrawal.
Dismissal, disability, early retirement of the holder, their spouse, or their civil union (PACS) partner.
Withdrawal of securities from a company in court-ordered liquidation (subject to conditions).

After 5 years

Provided no withdrawal was made for the purpose of starting or taking over a business, the holder may make new contributions within the authorised caps.

Withdrawing all amounts or securities results in closure of the plan.

Where to find the PEA tax information

Information relating to the opening date and the cumulative amount of contributions to the PEA can be viewed from your platform:

From SaxoInvestor :

Select your account in the drop-down list in the Portfolio tab
Then click on
Then click on Details
Look at the bottom of the Account details menu, in the "Plan d'Épargne en Actions" section

From SaxoTrader (mobile and web):

Select your account in the drop-down list at the bottom left of your platform
Then click on
Look at the bottom of the Account details menu, in the "Plan d'Épargne en Actions" section

From SaxoTrader (desktop version installed on your computer):

Click Menu
Then click Portfolio
Then select your account in the drop-down list at the top left
Then click on
Look at the bottom of the Account details menu, in the "Plan d'Épargne en Actions" section

You will also find this information directly from your withdrawals/deposits module.

Taxation

Social contributions may apply in accordance with the regulations in force; the amount received may therefore differ from the amount requested.

Once your withdrawal has been approved by Saxo Banque, the funds are credited within 2 to 5 working days.

The net gain is determined between the net asset value of the PEA on the withdrawal date and the total amount of contributions made to the PEA since the date it was opened, with the exception of contributions associated with withdrawals that did not result in closure of the plan.

Before 5 years

The calculation of social contributions is carried out by assessment by the tax authorities.

After 5 years

Social contributions are withheld at source by Saxo Banque at the time of withdrawal.

The different contributions are calculated according to:

The strata methodology, where applicable (depending on the historical rates), for PEAs opened before 01/01/2018;
The event-driven system (fait générateur), for PEAs opened after 01/01/2018.

	Taxation of PEAs with gains		Taxation of PEAs with losses (the plan must show an overall capital loss)
Before 5 years	Flat tax at a rate of 31.40% (Income tax 12.80% + social contributions 18.60%)		No taxation Capital gains or losses realised upon the closure of a PEA or PEA‑PME before the end of the fifth year may be offset against gains or losses of the same nature realised during the same year and, where applicable, the following ten years.
After 5 years	Opened before 01/01/2018	Opened after 01/01/2018	No taxation Capital losses realised upon the closure of a PEA or PEA‑PME more than five years old can be offset against gains and profits of the same nature realised during the same year and, where applicable, the following ten years (CGI, Art. 150-0 A, II-2 bis). This offset is only possible if certain conditions are met.
	Social contributions at historical rates	Social contributions of 18.60%

Instrument eligibility:

An instrument’s eligibility for the PEA or PEA‑PME is determined by the criteria set by French regulations (notably the issuer’s location and its asset category).

When you are logged in, if you cannot select a stock on your PEA account from an order ticket, it means the security is not eligible for the PEA (the same applies to the PEA‑PME).

You can find the official list of stocks eligible for the PEA‑PME published by Euronext here