In the context of the new tax law, a debate has arisen about whether entities that manage non-bank accounts (such as Tenpo, Mercado Pago, among others) are exempt from the obligation to report to the Chilean IRS (Servicio de Impuestos Internos, SII for its initials in Spanish) when they receive over 50 transfers from different individuals in a month or more than 100 transfers from different individuals within six months. 

The Ministry of Finance, through its tax policy coordinator, clarified that they would be exempt from the mentioned regulation but would still be governed by Article 68 of the Tax Code related to the commencement of activities. This means that if the card receives deposits from third parties (and not solely from the owner), it would be considered an electronic payment method, and the payment service provider would be required to ensure that those who use their services have registered the commencement of activities with the IRS. 

In short, while the issuer of these non-bank accounts would not be obligated to report deposits, if the card is being used as an electronic payment method (i.e., it receives funds from third parties), it must ensure that the non-bank account user has registered the commencement of activities. The regulation does not specify how the issuer of non-bank accounts must confirm that the user has registered. Therefore, in principle, a declaration from the user stating that they have either commenced activities or that their activity is not subject to the commencement requirement would suffice. 

Issuers must annually inform the Chilean IRS of individuals who have declared that they do not require commencement of activities, including the number of transactions and the total amount of these. They must also report, upon the IRS’s request, the number of transactions and total amounts concerning specific taxpayers.