To avoid launching an exhaustive investigation, it is necessary to take into account certain requirements. I know the details.
The Federal Public Revenue Administration (AFIP) It has certain strict rules when making transfers, and it is necessary to be in compliance to avoid unnecessary investigations. The entity needs a justification of the origin of the income if these movements exceed certain limits, and the transfers between own accounts do not exceed these regulations. Know the AFIP requirements.
Afip-Monotributo-Profits-Tax-
Ignacio Petunchi
AFIP: what should I do if I make transfers into my own accounts to avoid problems
Do not exceed permitted limits without justification
In the case of transferring money between own accounts exceeding the limits established by the AFIP without valid justificationthere is a risk that an exhaustive control will be initiated. Those who do not have formal declared income will have $400,000 of limit in income and expense movements between own accounts. If this figure is exceeded, the AFIP could start an inspection.
Justify the origin of the funds
It is important to have documentation that supports the origin of the funds in an account to avoid problems with the AFIP. This applies even to movements in own accounts: if you do not have this documentation, the bank or the AFIP may request the origin of the transferred money: They can be salary slips, retirement receipts, invoices, among others.
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Declare transfers over $700,000
One of the AFIP regulations consists of: support declared income in those transfers that exceed the amount of $700,000. If this is not met, there is a risk that a thorough investigation will be launched.
Respond to requests from banks or fintechs on time
If not responded to in a timely manner or proper documentation is not provided, it may result in an issuance of a Suspicious Operation Report (ROS) to the Financial Information Unit (UIF).
Have on hand the documentation that the AFIP can request
The AFIP may request certain documents to support transfers. It is recommended have the following documentation available:
- Purchase and sale tickets.
- Documents proving the sale of shares or a company.
- Pay stubs or proof of retirement benefits.
- Invoices from the last few months.
- Monotax certificate.
- Certificate of funds issued by a public accountant.
Source: Ambito
