Regulatory update – Colombia

This is the second extension following resolution 37 of March 2022.

The DIAN determined that obligated subjects will now have until July 31, 2023, to comply with the record. This new term applies to legal entities and structures without legal status incorporated/created until May 31, 2023.

For those legal entities and structures without legal status incorporated/created as of June 1, 2023, the requirement will also apply, but will have time to comply with the obligations within two months after their registration in their correspondent registry.

Legal entities must first register within the Tax Registry and then provide the information of their final beneficiaries. In the case of structures without legal status, they must register the information within the Sistema de Identificación de Estructura Sin Personería Jurídica (SIESPJ).

The information must be provided electronically, through DIAN`S website, via form 2687 “Reporte de Beneficiarios Finales” and form 2688 “Carga Beneficiarios Finales”.

In the event of non-compliance with the requirements, obligated subjects may receive a fine equivalent to one Unidad de Valor Tributario (UVT) for each day of breach. In addition, if the provided information is false or incomplete, they might also be subject to civil and criminal claims in accordance with Colombian law.