Opening the condominium bank account step by step

Why the dedicated account is mandatory

The seventh paragraph of Article 1129 of the Italian Civil Code requires the manager to route the administration's funds through an account registered in the condominium's name. Breaching this obligation is among the grounds that can justify judicial removal of the manager, because mixing the condominium's money with personal money prevents any control and opens the door to abuse.

The dedicated account guarantees that every owner, through the manager, can ask to inspect and take a copy of the periodic reporting of the account itself. It is the tool that gives substance to transparency: without an account in the condominium's name, the annual report risks remaining a list of figures that cannot be verified.

Step 1: obtain the condominium's tax code

The account must be registered in the condominium's name, not the manager's, and to do so the condominium's tax code is needed. If the condominium already has one, the manager retrieves it from the documentation received. If it does not yet exist, for example in a newly formed building that exceeds the threshold of owners above which appointment is mandatory, it must be requested from the Italian Revenue Agency.

The tax code identifies the condominium as an autonomous centre of attribution, distinct both from the individual owners and from the manager for the time being. It is the detail that makes it possible to register the banking relationship correctly and that will also accompany the tax formalities, from the F24 form to the Single Certification.

Step 2: choose the bank and present the documents

The law does not impose a specific institution: the account may be with a bank or a postal operator. The choice normally rests with the manager as part of ordinary administration, but the meeting may indicate the institution or the terms. It is worth comparing account maintenance costs, fees on transfers and collections, and the availability of automatic reconciliation tools.

At the branch or online the manager presents the condominium's tax code, the appointment minutes attesting to their powers, and their own identity document and tax code. The bank verifies the authority to operate and opens the relationship in the condominium's name, listing the manager as the person delegated to move funds for the duration of the mandate.

Step 3: route every sum through the account

Once the account is open, the operating rule is simple and strict: everything passes through it. The contributions paid by owners, the advances, the funds for extraordinary works, insurance reimbursements and any other inflow reach the condominium's account; payments to suppliers, charges, fees and every outflow leave from the same account. No collection or payment in cash kept outside the circuit, save the bare minimum for petty cash.

To keep movements legible it helps for the descriptions of deposits to reference the owner and the period, and for payments to reference the linked invoice or resolution. Reconciling the bank statement with the accounts then becomes a quick check rather than an after-the-fact reconstruction.

Step 4: connect the account to the accounts

The current account does not stand alone: its movements feed the accounting register and, at year end, the annual report. Keeping the bank balance and the day book aligned, movement by movement, is what allows the administration to be closed with no unexplained differences and to answer owners' questions with the documents to hand.

A management tool simplifies this connection. AmministraPro lets you import or reconcile the condominium account movements with the recorded instalments and expenses, so that every inflow and outflow is matched to a real description. The accounting and reconciliation features are described on the /funzioni page, while the plans based on the number of condominiums managed are on /prezzi.

Frequently asked questions