The Miscellaneous Resolution Rule 2.4.19. Update of information of partners or shareholders establishes the obligation to report the RFC of the partners or associates of non-profit entities. It is noteworthy that the RFC of the "members", a term used in the Income Tax Law to determine whether certain transactions should be considered as taxable or not for income tax purposes, was not included.
Until before 2020, the obligation to inform who are the partners or shareholders of legal entities did not also consider non-profit entities that are so classified according to those defined in Title III of the Income Tax Law. The amendment to Article 29 of the Federal Tax Code effective for the fiscal year 2020.
The above mentioned rule provides the regulations to carry out such registration, which shall be complied with in accordance with the provisions of Ficha de Trámite 295/CFF "Aviso de actualización de socios o accionistas" (Notice to update partners or shareholders). Compliance with the provision must be interpreted in conjunction with the provisions of the Forty-sixth Transitory Article of the Miscellaneous Tax Resolution for 2020, in which the following applies:
"...legal entities that do not have updated the information of their partners or shareholders before the RFC, must file the notice referred to in rule 2.4.19 with the information corresponding to the structure they have at that moment. The referred notice must be filed for this single occasion no later than June 30, 2020...".
It is worth noting that it is indicated to inform who are the partners or shareholders at the time of filing the notice, so it is not required to present a list of all the partners or shareholders at this first time, but only of those who are registered precisely at the time of filing. It is recommended that the opportunity be taken to update the registers of partners.
Failure to comply with this provision is punishable under the Federal Tax Code with fines ranging from a minimum of $4,200.00 to $8,390.00.
