With six months to go before the start of Tax year 2026, the amendments to the Federal Tax Code (“FTC”) regarding the audit of accounts, account statements, and transactions conducted through non-bank financial institutions are now part of Mexico’s Tax Compliance framework. The Tax Authority now has express powers to review information related to Financial Technology Institutions (“FTI”), e-wallets, and other entities in the digital financial system, which significantly expands the practical scope of the audit powers traditionally associated with bank accounts.
Although the Reform originates within the tax sphere, its effects extend beyond mere tax compliance. For companies operating in the digital financial system, this new framework requires them to review not only their tax returns or accounting records but also the way they structure their contracts, manage third-party funds, document their transactions, and allocate responsibilities within the organization.
The main change brought about by this Reform should not be understood solely as an expansion of the accounts that the SAT (Mexico’s Tax Administration Service) can audit, but rather as an update to the tax framework in line with how non-bank financial institutions currently operate. In practice, the Tax Authority is no longer limited to information generated by traditional credit institutions but also considers information related to accounts, account statements, transactions, and operations managed through FTI??s, SOFOMs (Multiple Purpose Financial Institutions), e-wallets, and other participants in the digital financial system.
As a result, the information generated within these structures may have direct tax implications. If the transactions, deposits, or balances recorded in accounts or account statements are not consistent with the accounting records, CFDI documents, contracts, and supporting documentation– the tax authority could question the nature of those funds and even presume the existence of unreported income, unless the entity has sufficient evidence to prove their origin, destination, and accounting treatment.
For a Non-Bank Financial Institution, the ability to respond appropriately to an audit is not determined at the moment the Authority’s request is received. It depends, to a large extent, on decisions made in advance by the administrative and management bodies: clear internal policies, contracts consistent with actual operations, traceability of cash flows, well-organized accounting records, and sufficient documentation to explain the origin, destination, and accounting treatment of each relevant transaction.
In the case of FTIs, regulations already require a robust Corporate Governance structure, including Boards of Directors, management, audit, and compliance bodies; for other non-bank financial institutions, the preventive approach is the same.
Decisions regarding internal control, record retention, account management, segregation of assets, and oversight of operations no longer have solely a corporate or regulatory dimension; they may also have direct tax implications. In practice, it is advisable for the Board of Directors to review, at a minimum, the following points: (i) the cash management and account management policy; (ii) the segregation of the company’s own funds from third-party funds; (iii) the retention and availability of supporting documentation; and (iv) the internal chart of responsibilities regarding the authorization, execution, recording, and oversight of relevant cash flows.
This Reform updates a fundamental rule already contained in the Federal Tax Code: In the case of deposits in any account (bank or otherwise) that do not match the accounting records, the Tax Authority may presume that such deposits constitute unreported income on which taxes are due, unless proven otherwise. While the logic behind this presumption is not new, its scope is; it now expressly covers accounts held at non-bank institutions.
The burden of rebutting this presumption falls on the taxpayer and is based primarily on the legal validity of the contracts and other corporate instruments documenting the transaction. A reimbursement, a refund, a canceled advance payment, or third-party funds administered under a mandate, trust, or commercial commission must be supported by a valid contract that is consistent with the actual transaction, signed by an authorized person, and consistent with the accounting records and CFDI.
For Companies in the Digital Financial System, this Reform represents a significant opportunity to review their corporate structure, the composition and functioning of their governing bodies, the soundness of their contractual frameworks, the separation of assets from managed funds, internal document retention policies, and the traceability of each relevant cash flow.
Consistency between operational activities, contractual provisions, CFDI records, and account statements is an essential component of corporate compliance and, ultimately, of business continuity itself.
At VAHG, we provide comprehensive legal counsel to Companies operating within the Digital Financial System, assisting them in meeting their regulatory obligations and mitigating legal risks. Our services include the proactive review of Corporate Governance Structures, the design and audit of contractual frameworks, the assessment of the liability of Directors and Executives, as well as the handling and follow-up of requests issued by the competent Authorities.
Through a strategic and specialized approach, we help our Clients strengthen their Regulatory Compliance, protect their operations, and contribute to the secure and sustainable development of the Digital Financial Ecosystem.
Elvia Ríos Saldaña| Partner
+52 (33) 38171731 Ext. 228|erios@vahg.mx
Luis Andrés Estrada Intriago |Senior Associate
+52 (33) 38171731 Ext. 224|lestrada@vahg.mx
Juan Manuel Méndez Sánchez|Associate
+52 (33) 38171731 Ext. 233|jmmendez@vahg.mx
**The publication of this document does not constitute legal, accounting or professional advice of any kind, nor is it intended to be applicable to particular cases. This document refers to laws applicable in Mexico.