• Publication

“Update of Partners or Shareholders” Notice

Date: 2020/06/04

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As part of the 2020 Tax Reform, various provisions related to the obligation to submit to the Federal Taxpayer Registry (RFC) an “Update of partners or shareholders”1 notice were added to the Federal Tax Code (CFF), which will apply only to legal entities resident in Mexico.

The notice will consist of informing to the RFC every time a modification or incorporation of partners or shareholders of the legal entity is made. Each modification or incorporation must be reported no later than thirty workdays after the day in which it was made2.

Additionally, legal entities that have not updated the information about their partners or shareholders before the RFC must submit a notice with the corresponding information of the structure they are in at the time. This notice must be filed no later than June 30, 20203.

The notices mentioned above must be sent per the provisions of the 295 / CFF file4, for which digital copies, certified by a Notary Public, of the documents recognizing the modification or incorporation of the partners or shareholders, such as contracts, assembly minutes, among other corporate documents that cover the modifications or incorporations made.

It should be noted that if this provision is not complied with, the legal entity would be subject to various sanctions, such as fines of up to MXN 8,390.005 for each unsubmitted notice and even a possible temporary restriction of digital stamps6.

Because of the above, JA Del Río makes its advisory services available to support you with the compliance of this new obligation, recommending to review and/or update the company’s social books, assisting you with the process, along with your corporate or local lawyers, to comply with the tax authorities in a timely fashion.

References

1 Apartado A fracción II y Apartado B fracción VI del Artículo 27 CFF.
2 Regla 2.4.19 de la RMF para el ejercicio 2020.
3 Cuadragésimo sexto transitorio de la RMF para el ejercicio 2020.
4 Anexo 1-A de la RMF para el ejercicio 2020.
5 Fracción III del Artículo 79 CFF y fracción II del Artículo 80 CFF.
6 Fracción IX del Artículo 17-H Bis CFF.