Chile's Internal Revenue Service (SII) is launching a new auditing system to detect unregistered business activities by monitoring bank transfers. Enacted under Tax Compliance Law No. 21.713, the measure requires banking institutions to report to the agency whenever an account receives 50 or more transfers from different senders within a monthly period.
The reporting mechanism focuses on the identity of the senders rather than the total volume of transactions. Banks are only required to count unique tax IDs (RUT) involved in the transfers. This means that multiple transfers from the same individual will not count toward the 50-sender threshold.
The goal of this regulation is to identify income patterns that suggest the existence of informal businesses or undeclared economic activities. The SII will use this information to cross-reference data and verify the legitimacy of funds entering both personal and corporate accounts.
Audit Procedures
Exceeding the 50-sender monthly limit does not trigger an automatic fine from the tax authority. However, detecting these movements allows the SII to initiate review processes to verify the source of the income.
If a taxpayer exceeds this threshold, the agency may require them to formalize their business activities. To avoid audits, experts recommend that any commercial activity be properly registered with the SII in a timely manner.
Users can independently monitor their tax status through the agency's digital platforms. The “Mi SII” portal—specifically the “SII te informa” (SII informs you) section—allows citizens to check if they have been flagged for bank movements.
This tool is intended to help taxpayers keep their income within legal bounds and correct any discrepancies before facing an official notice from the authorities.