Banking Dollar Deposit In Argentine Bank Account

[TangeroMin]

I will be traveling soon and I just moved into a new apartment.

Several people in the building have told me that the portero is a known thief.

I keep several thousand dollars in cash in the apartment and there is no safe.

And no, I can't install one because it is a "historic building."

So I am contemplating depositing about $13K US in my argentine bank account. I went to the bank and they said no problem. For US tax purposes, I would have to fill out a form, but the accountant says it is no big deal.

Question: will this deposit cause me Argentine problems? WIll AFIP come knocking on my door?

I include the elaborate detail above so people trying to be helpful don't get off track.

I am only interested in the question I ask: about any potential problems with depositing $13K US in an Argentine bank account.

Thanks.

 

[Cameler]

I will be traveling soon and I just moved into a new apartment.

Several people in the building have told me that the portero is a known thief.

I keep several thousand dollars in cash in the apartment and there is no safe.

And no, I can't install one because it is a "historic building."

So I am contemplating depositing about $13K US in my argentine bank account. I went to the bank and they said no problem. For US tax purposes, I would have to fill out a form, but the accountant says it is no big deal.

Question: will this deposit cause me Argentine problems? WIll AFIP come knocking on my door?

I include the elaborate detail above so people trying to be helpful don't get off track.

I am only interested in the question I ask: about any potential problems with depositing $13K US in an Argentine bank account.

Thanks.

I don't have an answer to your question, but if the portero is a known thief, could you invest in one of those security cameras that sends images to the internet? That way, even if he found the camera and destroyed it, it would have already sent the images online. Then, if he commits a theft, you could have fairly indisputable evidence. Of course, you shouldn't leave your USD cash there, but the root problem seems to be the thief portero.

 

[earlyretirement]

It sounds like you already have a bank account. There is no problem at all to deposit funds into your account. I'm not sure how easy it is to wire US dollars INTO your account. But I have both a peso account and a US dollar account and I don't have issues or problems withdrawing or depositing funds into my account. You shouldn't have any problems with AFIP either. $13,000 US isn't a relatively large amount.

I recently sold an apartment and I was surprised that you can even wire funds OUT of your US dollar account in Argentina to your USA account. I simply had to give them a certified copy of my escritura, deposited the funds and then signed some paperwork and had to pay a 0.58% commission and they told me that it would take about 5 business days but I was surprised that within 3 business days my funds were in my USA bank account. (Keep in mind I already have a US dollar bank account in Argentina and also have permanent residency in Argentina. I'm not sure this matters at all. I think as long as you already have a bank account you're fine).

Things are MUCH easier with Macri running the show.

Also, does the doorman have your key or something? Why don't you simply install a safe in your closet and bolt it into the wall. It doesn't matter if your building is "historic" or not. They can't stop you from installing you a safe in your closet and they wouldn't even know. Also, if you're really paranoid about security, just install a Nest camera and you can monitor all your activities.

 

[NigjeFs]

I'd rent a safety box at the bank. this is the best option. To deposit anything over 40000 pesos you need to inform AFIP. They might want to know where this money is coming from. If you are a permanent resident here you owe Bienes Personales tax on any money you keep in cash bills. So I think a safe in the bank is your best bet. They don't need to know what you put in there.

 

[earlyretirement]

I'd rent a safety box at the bank. this is the best option. To deposit anything over 40000 pesos you need to inform AFIP. They might want to know where this money is coming from. If you are a permanent resident here you owe Bienes Personales tax on any money you keep in cash bills. So I think a safe in the bank is your best bet. They don't need to know what you put in there.

How many people actually are informing AFIP when applicable? I've made many 40,000+ peso deposits over the past ten years and never "informed AFIP" and never have had any issues.

I DO agree that the best option is to just buy a safety deposit box like most other locals. But I've never had any problems with deposits into my Argentina bank account. Both before I got permanent residency and afterwards.

 

[NigjeFs]

How many people actually are informing AFIP when applicable? I've made many 40,000+ peso deposits over the past ten years and never "informed AFIP" and never have had any issues.

I DO agree that the best option is to just buy a safety deposit box like most other locals. But I've never had any problems with deposits into my Argentina bank account. Both before I got permanent residency and afterwards.

The bank is going to hand you a form, because they are the ones that have to inform it.

 

[earlyretirement]

The bank is going to hand you a form, because they are the ones that have to inform it.

Hmm. The only time I've had to fill out a form to make a deposit was this last big deposit for the proceeds from a sale of my apartment. For that I did have to fill out a form and it asked the source of the funds (i.e. sale of automobile, real estate, etc). But in previous deposits I was never asked to fill out any forms.