How much can you deposit for a fixed term without declaring?

After the recent resolution of the Central Bank of the Republic of Argentina (BCRA) eliminate the minimum threshold of 110% in fixed-term rates in pesos, starting Tuesday, March 12, 2024, each bank can set its own values, which is why the current percentages vary between 68% and 76%, depending on the financial institution.

Regardless of the fact that following this provision you will get an average profit of between 5.8% and 6.41% per monththat is, below the 13% inflation rate officially announced for February, for example, there are still many savers who out of habit or security As far as saving is concerned, they continue to use the fixed maturity.

And precisely when it comes to safety, many people ask themselves this How much money you can have in a given period without declaring it to the treasury.

Financial institutions are required to communicate to AFIP the cumulative total amount of fixed installments paid each month, once reached or exceeds $400,000. This limit is increased from the previous $200,000.

The $400,000 amount is monthly and includes all types of credits, covering not only fixed terms, but also savings accounts, salary accounts, Social Security accounts and special accounts.

In some cases, in practice The amount varies depending on the income level of the person in question, which is why the number ends up being generally higher. And this is because banks usually create some kind of profile for each customer based on his empty income.

This, on the contrary, does not happen with those who have no declared income, who instead do have itThey must respect the maximum amount. This limit is in effect for transactions made per calendar month per person.

Among other issues, it includes the silver deposited in savings bankschecking accounts, salary accounts, retirement accounts, as well as balances and fixed-term investments.

The role of fixed-term banks

If he the bank sees justification for the necessary fundshas the power to request supporting documentation justifying such movements.

In this context, the most common documents that are usually requested are: invoices from the last six months, salary receipts, pension salary receipts or income certificate issued by a public accountant, among others.

If the money comes from a specific transaction such as, for example, the sale of a car or a property, the relevant receipts must be presented.

Who cannot fully or partially justify the moneythey enter the list of people for whom the bank can prepare a ROS (Suspicious Transaction Report) and notify them to the UIF (Financial Intelligence Unit).

Along these lines, if the AFIP detects significant discrepancies such as, for example, excessive expenses compared to declared income levelsit can also carry out a review and control process, urging the person to regularize the situation.

In summary, further the provisions of Javier Milei’s government regarding tariffsthe amount it can be fixed-term deposit without the need for declaration It will depend on your registered income and the profile prepared by the bank or financial institution. For those who have no declared income, the The maximum amount is $400,000 considering all types of operations.