Overview
- Banks must report monthly cash deposits above 15,000 pesos under Article 55 of the Income Tax Law and RMF rule 3.5.13, covering cash at tellers or ATMs and excluding transfers, card payments, and checks.
- The reminder for October does not create a new tax, but reported deposits can trigger reviews if they do not align with a taxpayer’s declared income.
- Individuals must disclose in their annual return any loans, donations, or prizes that total more than 600,000 pesos in a year, as required by Article 90 of the law.
- If funds come from a company, authorities and reports note an obligation to file the 86-A notice within 15 business days, with companies also subject to notice requirements on large cash loans or contributions.
- Failure to inform required movements can lead to fines reported up to about 34,730–35,000 pesos and, in some cases, proportional penalties, while documentation, RFC registration, and using electronic transfers are recommended to avoid issues.