Internal Revenue Service establishes obligation to submit annual information on financial accounts
8 junio 2018

On June 6th, the extract of Resolution No. 48 of the Internal Revenue Service (SII) was published in the Official Gazette. The measure reaches all financial institutions and establishes the obligation to present, to the SII an annual Sworn Statement in which they must report on each of the “Financial Accounts Related to Persons with Tax Residence Abroad.” These obligations began to apply as of the publication of the resolution.

 

Financial accounts related to persons of tax residence abroad who have been maintained in Financial Institutions at any time from January 1st to December 31st of the previous year and who have been identified as such in accordance with the review procedures established in the regulation by the SII will be reached.

 

The Sworn Statement must include the full name or business name, address, place and date of birth (in the case of natural persons), jurisdiction or jurisdictions of tax residence, and tax identification number granted by each of the jurisdictions of tax residence, of each account holder who is a “person with a tax residence abroad”. It should also include the account number, the name and number of the Unique Tax Form of the financial institution to which the obligation to communicate information and the balance of the account, shall be recorded. The Declaration must be submitted no later than June 30th of each year, beginning in 2018.

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