bickmed
3/30/2017 04:37 EST
Reference the link below, has anyone else had problems with this bank (or another) not releasing funds due to not having a Formula 160? If so, how did you resolve it.
I now know of another foreigner, with the same bank, and exact same problem, not having his funds released. He has been back and forth to DIAN with no resolution so far.
I do my transfers via Alianza and have not had an issue (so far).
http://www.expatexchange.com/expat/index.cfm?tpcid=3407017&dbname=ee&frmid=190&forumid=0&shared=N&skey=Bank%20transfer%20dian
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Elexpatriado
3/30/2017 10:18 EST
First it should be clarified that Formulario 160 is the document theoretically required by DIAN, that lists your world wide assets. Not the Form DS-160 Colombian have to fill out to obtain a US visa.
I dont have a bank in Colombia, and never transfer money here,butI have never heard of any issues from any of my friends banking in BancoColombia or other banks.
Also, all the expats I know, many of whom have signidficant assets in the US and Colombia, never get asked by thier Colombian accountant about US income or assets, and most havent heard of Formulario 160.
It would be interesting to hear what your friend´s discussion with DIAN has been. Do they insist he fill out the form?
I think you should both change banks.
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bickmed
3/30/2017 10:22 EST
I have not had an issue, someone I know has, and it is the same as experienced by another poster as per the link, including the actual bank.
His bank will not release funds for a personal transfer, until the declaration form has been presented. He has not been able to process the form with DIAN, similar to the experience indicated in the previous link.
If anyone has had a similar issue, and can shed any light then that would be great. As I stated, I have mot had this issue with transfers via Alianza.
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Elexpatriado
3/30/2017 11:05 EST
Couldnt open the link, but remeber reading about it a while back,I think
Be interesting to hear ifthere are any responses.
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bickmed
3/31/2017 09:30 EST
I too will be interested. I am guessing that it may just be that particular bank that is rigorously enforcing a copy of the 160 form - both complaints related to the same bank, and I have not heard (yet) of anyone else experiencing a similar issue.
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bickmed
3/31/2017 09:31 EST
For the link, if you copy and past into another browser you should be able to see it.
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fecherklyn
4/2/2017 08:56 EST
Fraid so Guys, I did a thread about this subject in January 2016 but, such in the volume of input to this forum, trying to find it now is a major job.
The submission of Formulario 160 ("Declaracion de Activos en el Exterior") IS an OBLIGATION for residents for tax purposes in Colombia (The 182 day per year presence rule) in accordance with Article 42 de la Ley 1739 de 2014 and numeral 5 of Article 574 del Estatuto Tributario. I got caught by the law last year when it first arrived.
Banco GNB Sudameris strictly apply this law and refuse to liberate funds coming into Colombia from abroad until you can present them with a registered copy of this form. Is GNB the only bank to enforce this law....I do not know.....but it IS the law.
The most important thing to know is that completing and submitting this form to the DIAN does NOT DIRECTLY create any tax liability because the DIAN carefully explain the data is required for INFORMATION PURPOSES only. However, what the indirect consequences may be can be different as this data can obviously be checked to see if it is in conformity with the “Patrimony” and “Income (Renta”) details you include in your normal annual Colombian tax declaration.
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bickmed
4/2/2017 09:49 EST
This is the link which is in my original post.
http://www.expatexchange.com/expat/index.cfm?tpcid=3407017&dbname=ee&frmid=190&forumid=0&shared=N&skey=Bank%20transfer%20dian
Did you eventually get the form approved, how long did it take and any tips? I assume your money is released now (or hope so anyway).
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fecherklyn
4/2/2017 18:51 EST
@bickmed
Yes, I eventually got it sorted out but it took a couple of months because the Formulario 160 has the particularity that it must be submitted to the DIAN “digitally” ….”deberá presentarse a través de los Servicios Informáticos Electrónicos hacienda uso del Mecanismo de Firma Digtal”. This was a real pain in the asxx as my Colombian tax declarations until then had been rendered manually and it required a number of visits to the DIAN local offices to “digitalize” the submissions.
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bickmed
4/3/2017 00:37 EST
fecherklyn - appreciate you providing an update. This is the same issue my friend is having - getting the documentation submitted / approved through DIAN.
As this form relates to tax residents, I wonder how GNB handles people who are not tax residents, and what they would require as proof, to release the money.
I will send him your previous post so he knows what he is in for!!
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