DIAN regulated the Single Registry of Beneficial Owners

4 February, 2022
DIAN regulated the Single Registry of Beneficial Owners

Through Resolution 000164 of December 27, 2021, the DIAN (Dirección de Impuestos y Aduanas Nacionales – National Tax and Customs Directorate) issued the regulatory provisions on the RUB (Registro Único de Beneficiarios finales – Single Registry of Beneficial Owners), regulating articles 631-5 and 631-6 of the Tax Statute.

1. What is the purpose?

The Director-General of Diana, Lisandro Manuel Junco Rivera, commented: “This regulation is issued to fight corruption, money laundering, financing of terrorism, tax evasion, and comply with the recommendations of the Financial Action Task Force – FATF and the Global Forum on Transparency and Information Exchange of the Organization for Economic Cooperation and Development – OECD.”

2. Obliged to provide information in the RUB

According to Article 4 of this Resolution, the following legal entities and unincorporated or similar structures are obliged to provide information:

  • Corporations and national profit or non-profit entities, including those whose shares are registered or listed in one or more stock exchanges.
  • Permanent establishments
  • Structures without legal or similar personality, in any of the following cases:
    • Those created or administered in the Republic of Colombia.
    • Those governed by the rules of the Republic of Colombia.
    • Those whose trustee or similar or equivalent position is a national legal entity or natural person tax resident in the Republic of Colombia.
  • Foreign legal entities and unincorporated or similar structures whose value of the assets located in the Republic of Colombia represent more than 50% of the total value of the assets owned by the legal entity or unincorporated or similar structure, according to its financial statements.

3. Deadlines for providing information in the RUB

Concerning the deadlines for providing the information in the RUB, the Resolution indicates the following:

  • Legal entities, unincorporated or similar structures, incorporated or created before January 15, 2022, must provide the information no later than September 30, 2022; and.
  • Those incorporated or created on January 15, 2022, at the latest within two (2) months following the registration in the Single Tax Registry – RUT or the registration in the Unincorporated Structure Identification System – SIESPJ.

The Resolution also states that all information must be reported through the electronic system of the DIAN, that it will be confidential, and that only those entities authorized by law will have access to it.

4. When did it come into force?

This regulation came into force as of January 15, 2022.

To read the complete regulation, please click on the following source:

Source: DIAN 18/01/22