# bank accounts in mexico and new RFC



## anoutlaw (May 13, 2009)

So as you all (who live in mexico) know that all bank accounts are now "fiscalizadas" so basically private bank accounts are no longer private bank accounts.

Before:

You are a Mexican with a business and have a business account and your private account. You run your business and like many in mexico, they do not report cash payments and sooner or later end up in their private bank accounts or use the cash to pay off credit cards.

hacienda would check your tax papers and you are good to go.


Now:

You are a Mexican with a business and have a business account and your private account that is no longer private. You run your business and like many in mexico, they do not report cash payments.

hacienda would check your tax papers and they see that you may be reporting say profit per month like 10,000 pesos but when they check your cc they see you spend like 50,000 and your private account might be like maybe 400,000. Then with FATCA, they pull the mexicans bank account in US and get another cool figure. Many Mexicans have accounts in the US and put money periodically in them.... I guess they will stop.



THE QUESTION:

I am not Mexican but live in mexico and now a permanent resident. I am European. My concern is this. I have my savings account in Europe and wondering what would happen if I decide to build a house in Mexico like many others. I mean I would have to transfer a big amount to my private account (no longer private) and build the house. I should be okay in hacienadas eyes since the payment would come from abroad from an account in my name to an account in mexico that is also in my name....

But I have doubts and in the town I am in finding and accountant who would know anything about a foreigner in mexico simply will not happen. Anyone already checked with an accountant or hacienda???

I could send and probably nothing will happen since I do no file any tax papers in mexico anyway. but you never know when they do a manual check on a spouse etc and you get pulled in.

So, what should one be aware of.


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## anoutlaw (May 13, 2009)

Bump


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## Longford (May 25, 2012)

My advice? Consult one of the international accounting firms with offices in Mexico which are experinced in such matters. Unlike what we find in the USA, in Mexico accounting firms not only dispense accounting/tax advice but they also employ attorneys who provide advice to clients on a wide range of topics. Deloitte is probably the largest such accounting firm in Mexico at the moment.


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## Hound Dog (Jan 18, 2009)

Now, that was a confusing inquiry. I guess I now undrstand why this new participant´s personally chosen internet handle is "anoutlaw".

We are, respectively, French and U.S. citizens and have savings in both the U.S. and France as well as Mexico. Most of our savings is in the U.S.We already have our homes in Mexico but if we wanted to build a new home we would simply wire the money to one of our Mexican bank accounts (Bancomer or Banamex) as we have in the past so what´s the big deal. If you´re buying a new car or building a house and you maintain a paper trail then you should experience no problems down the line. Much ado about nothing. Don´t be paying some crooked financial advisor or attorney out to steal your money to cover your *ss in bullsh*t.


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## maesonna (Jun 10, 2008)

Hound Dog said:


> … as we have in the past …


“As we have in the past”: there’s the rub – *things are changing.* As we all know, a couple of years ago, the Mexican banks started changing the way they tax cash deposits, and banks and businesses started getting much more sticky about handling U.S. money and cheques as an anti-money-laundering move. That’s one thing.

Secondly, since the beginning of 2014, a much tighter coordination between the banks and SAT is being put in place. In my case (as an independent professional), I now have to account for my bank deposits: deposits have to match declared income, my claimed expenses have to be accounted for by bank withdrawals, and my employee has to get a bank account so they can see what I’m paying her.


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