Circular OPASI 2-726: Special Account for Asset Regularization. Law 27.743. Adjustments

"YEAR OF THE DEFENSE OF LIFE, LIBERTY, AND PROPERTY" COMMUNICATION "A" 8110 30/09/2024 TO FINANCIAL ENTITIES:
Ref.: Circular
OPASI 2-726:
Special Account for Asset Regularization.
Law 27.743. Adjustments.
___________________________________________________________________________ We address you to inform you that this Institution has adopted the resolution that, in its pertinent part, provides:

"- Substitute the first two and the last paragraph of point 3.16.3. of the text ordered on Savings Deposits, Salary Accounts, and Special Accounts with the following:

"The deposited funds shall remain unavailable until 09/30/24 or 10/31/24 inclusive –as applicable–, in accordance with what is provided in Decrees 608/24 and 864/24 and in the regulation established by the AFIP for this purpose. In the event that the total regularized amount is up to USD 100,000 (one hundred thousand US dollars) and the holder decides to transfer the amount deposited in this account to another account of their own before the deadlines provided for the manifestation of adherence to Stage 1 –as applicable–, the financial entity must require that the latter manifest –under oath– that this amount will be used, until the aforementioned deadlines, in documented onerous operations –understood as those that have the corresponding support of the relevant receipt (invoice, bill of sale, deed, among others)–.

…

"During the period of unavailability, debits other than those specifically authorized will not be admitted."

Regarding this, we send you the sheets that, in replacement of those previously provided, must be incorporated into the TO on Savings Deposits, Salary Accounts, and Special Accounts. In this sense, it is recalled that on the website of this Institution www.bcra.gob.ar, accessing "Financial System - LEGAL AND REGULATORY FRAMEWORK - Orders and summaries - Ordered texts of general regulation", the modifications made with texts highlighted in special characters (strikethrough and bold) will be found. We salute you attentively.

-2-
CENTRAL BANK OF THE ARGENTINE REPUBLIC
Darío C. Stefanelli Marina Ongaro
Principal Manager of Issuance and
Normative Applications
General Deputy Manager of Financial Regulation

ANNEX

Also, the crediting of the results of investments that are made with the funds deposited in this account will be admitted, according to the investment destinations admitted by the current legal and regulatory provisions. In all cases, more than one crediting for these concepts will be admitted. The entities must keep in the file of these accounts a copy of the documentation of the crediting performed.

3.16.3. Fund Movements.
The deposited funds shall remain unavailable until 09/30/24 or 10/31/24 inclusive –as applicable–, in accordance with what is provided in Decrees 608/24 and 864/24 and in the regulation established by the AFIP for this purpose. In the event that the total regularized amount is up to USD 100,000 (one hundred thousand US dollars) and the holder decides to transfer the amount deposited in this account to another account of their own before the deadlines provided for the manifestation of adherence to Stage 1 –as applicable–, the financial entity must require that the latter manifest –under oath– that this amount will be used, until the aforementioned deadlines, in documented onerous operations –understood as those that have the corresponding support of the relevant receipt (invoice, bill of sale, deed, among others)–. For the application of funds in the destinations permitted within the framework of the regulation of Law 27.743, debits may be made in these accounts as follows:
3.16.3.1. to other Special Accounts for Asset Regularization –client or banking– or to other accounts for cases where the AFIP has established a tracking register of such investments (conf. Resolution 590/24 of the Ministry of Economy, art. 3, 3rd paragraph); and/or
3.16.3.2. duly documented purchases, made by holders included in item iv) of the first paragraph of article 18 of Decree 608/24 and amendments –who have regularized an amount of up to USD 100,000 (one hundred thousand US dollars)–; and/or
3.16.3.3. for the acquisition of movable goods destined for productive investment in the country included in the list established by the Secretariat of Industry and Commerce of the Ministry of Economy.
Debits may also be made for transfers to other client or banking accounts of the holder, without prejudice to the tax withholding that the financial entity must make in accordance with the regulation established by the AFIP for this purpose. If necessary, the declarant may sell the foreign currency deposited in this account to obtain funds in pesos for the payment of taxes or for investment in the permitted destinations, which will be credited in an account of the same holder in pesos in the same financial entity or in a client account of the same holder in the Settlement and Clearing Agent in which the Special Client Account for Asset Regularization is open, as the case may be.

B.C.R.A. SAVINGS DEPOSITS, SALARY ACCOUNTS AND SPECIAL ACCOUNTS
Section 3. Special.
Version: 4th COMMUNICATION "A" 8110 Validity:
01/10/2024 Page 42

In the case of tax payment, the declarant must present to the entity the "Electronic Payment Slip" (VEP) issued by the AFIP system. A copy of the VEP and of the transactions performed will be kept in the account file to prove compliance with the application of funds to the indicated destination. During the period of unavailability, debits other than those specifically authorized will not be admitted.

3.16.4. Information Regime.
In accordance with the procedure and guidelines determined by the AFIP, financial entities must report to the aforementioned body the total of movements (debits and credits) made in these accounts.

3.16.5. Commissions.
The entities may receive commissions only for the maintenance of this account, provided that they do not exceed what they apply for such concept to their clientele on the savings account or the special current account for legal persons in US dollars –as applicable–, which is in force on the date of promulgation of Law 27.743.

3.16.6. Closure of accounts.
Once the deadlines provided by the current legal and regulatory framework have been met, these accounts must be closed ex officio. In the event that there are available balances, the funds must be transferred to another account in the name of the holder.

3.16.7. Other provisions.
Insofar as they are not provided for and to the extent that they do not oppose what is detailed in the preceding points, the provisions established for deposits in savings accounts and special current accounts for legal persons will apply, as applicable.

B.C.R.A. SAVINGS DEPOSITS, SALARY ACCOUNTS AND SPECIAL ACCOUNTS
Section 3. Special.
Version: 3rd COMMUNICATION "A" 8110 Validity:
01/10/2024 Page 43

SAVINGS DEPOSITS, SALARY ACCOUNTS AND SPECIAL ACCOUNTS ORDERED TEXT ORIGIN NORM OBSERVATIONS Sec. Point Para. Comm. Annex Ch. Sec. Point Para.
3.
3.13. A 7571 2. S/Com. A 7649, 7650, 7667,
7732, 7743, 7768, 7770,
7813, 7846, 7854, 7868,
7898, 7908, B 12496,
12511, 12512 and 12539 (includes regulatory clarification).
3.14. A 7570 2. S/Com. A 7603, 7649 and 7650
(includes regulatory clarification).
3.15. A 7664 20.
3.16. A 8062 1. S/Com. A 8090, 8106 and
8110.
4.
4.1. A 3042 S/Com. A 5728, 6273 and
6709.
4.2. A 1891 S/Com. A 1922, 3323, 4875,
6273 and 6709.
4.3.1. 1st A 2530 1st
2nd A 2530 3rd and
4th
4.3.2. A 2530 2nd
4.4.1. A 1199 I 5.3.1.
4.4.2. A 1199 I 5.3.2.
4.4.3. A 1199 I 5.3.3.
4.4.4. A 3042
4.4.5. A 1199 I 5.3.4.
4.4.6. A 1199 I
5.3.4.1. and
5.3.4.3.
4.4.7. A 627 1. S/Com. A 6419.
4.5. A 1199 I 5.1.
4.5.1. A 1199 I 5.1.1.
4.5.3. A 1199 I 5.1.3. S/Com. A 5990.
4.6.1. A 1199 I 5.2.1. S/Com. A 3042.
4.6.2. A 1199 I 5.2.2. S/Com. A 3042, 4809, 5482,
6042 and 6448.
4.7. B 6572 S/Com. A 5388.
4.8. A 4809 6. S/Com. A 5986 and 6249.
4.9. A 4809 7. S/Com. A 5164, 5520, 5612
and 6639.
4.10. 1st A 5212
4.10.1. A 5127
3.
S/Com. B 9961, A 5164,
5212, 5473, 5718, 5778,
5927 and 7192.
4.10.2. A 5212 S/Com. A 5718 and 7192.
4.11. A 5482 S/Com. A 5928 and 6681.
4.12. A 5482
4.13. A 5588 S/Com. A 7337.
4.13.1. A 5588 S/Com. A 7337, 7484, 7509
and 8075. Includes regulatory clarification.
4.13.2. A 7337
4.14. A 5928 10. S/Com. A 6236, 6483, 6639,
6709 and 6762.