New obligations of registration in the RUT and banking correspondent regime

Fines for unreported transactions may reach up to a maximum of 500 UTA.

The Internal Revenue Service (SII), through Circular No. 26 of 2025, instructed on the amendments made to Article 66 of the Tax Code and the incorporation of the new Article 66 bis.

Who must now register in the RUT?

1. Those who withhold or must withhold taxes, even if they do not generate their own taxable income.
2. Foreign entities without physical presence, if they make payments or withholdings in Chile.

What procedures are enabled?

1. Simplified or alternative procedures: The SII may, in qualified cases, define different or simpler ways to comply with the registration obligation.
2. Special regime for banking correspondents: Banks incorporated in Chile may register foreign clients with no domicile or residence in the RUT.

What must correspondent banks report?

• Information on the final beneficiaries of the transactions.
• Overall amount and details of transfers made during the year.
• Revocations or blocking of authorization to share data.

In case of non-compliance, the fine amounts to 1 UTA for each transaction not reported, up to a maximum of 500 UTA (annual). False or maliciously incomplete information is punishable by a fine of up to 40 UTA, in addition to criminal penalties.

For further information please contact our Tax team:

Rodrigo Albagli | Partner | ralbagli@az.cl

Álvaro Rosenblut | Partner | arosenblut@az.cl

Andrea Bobadilla | Director Tax Group | abobadilla@az.cl

Valentina Herrera | Associate | vherrera@az.cl

Javiera Melo | Associate | jmelo@az.cl

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