The SRI requires banks, cooperatives, and insurance companies to report non-resident accounts

The Internal Revenue Service (SRI) now requires banks, savings and credit cooperatives, insurance companies, and brokerage firms to report the financial accounts of non-residents and persons who control foreign companies every year. The measure is contained in resolution NAC-DGERCGC26-00000038, published in the Official Registry, Fourth Supplement No. 402 of Wednesday, November 4, 2026, which issues the rules for the implementation of the automatic exchange of information and approves the Annex of Financial Accounts of Non-Residents (CRS Annex). Non-compliance may be punished with up to 500 unified basic salaries of the general worker for each request.

The international framework activating the obligation

The resolution was issued and electronically signed by Alexandra Verónica Navarrete Ricaurte, Director General of the Internal Revenue Service, in Quito on October 30, 2026, and entered into force upon its publication in the Official Registry on November 4. Its objective is to comply with the requirements derived from Ecuador’s accession to the Global Forum on Transparency and Exchange of Information for Tax Purposes, to which the country has belonged since April 26, 2017, and to apply the OECD Common Reporting Standard (CRS), in its 2023 amended version, along with the Crypto-Asset Reporting Framework (CARF).

The international basis includes the Multilateral Convention on Mutual Administrative Assistance in Tax Matters, signed on October 29, 2018, approved by the Plenary of the National Assembly on August 7, 2019, and ratified by Executive Decree No. 855, published in the Official Registry Supplement No. 21 of August 20, 2019, as well as the Multilateral Competent Authority Agreement for the Automatic Exchange of Financial Account Information and its addendum of September 3, 2025.

The regulation is based on articles 220, 242, 353, and 354 of the Organic Monetary and Financial Code, which require financial system entities to provide information to the SRI without restriction or intermediation, and on article 106 of the Internal Tax Regime Law. It expressly repeals resolution NAC-DGERCGC23-00000031, published in the Official Registry Supplement No. 421 of October 20, 2023, and its amendments.

Who reports and what must be informed

The financial institutions subject to reporting defined in article 2 of the resolution are designated as obligated subjects:

• Depository institutions, including those maintaining electronic money products and central bank digital currencies.
• Custodial institutions that manage financial assets on behalf of third parties.
• Investment entities and specific insurance companies with cash-value contracts or annuities.
• Branches in Ecuador of foreign companies; Ecuadorian branches abroad are excluded.

The CRS Annex must contain the name, address, jurisdictions of residence, tax identification number, and date and place of birth of each reportable person, in addition to the account number, its type, the balance or value at the end of the year, and the gross interest, dividends, or income paid. Inactive accounts—balance up to USD 1,000, no transactions in three years, and no contact in six—are excluded, and if no reportable accounts exist, the annex must be submitted as zero.

Submission calendar and sanctions

Submission will be annual, for the fiscal year from January 1 to December 31, until May of the following year according to the ninth digit of the RUC:

• Digits 1, 3, 5, 7, and 9: May 10, 14, 18, 22, and 26.
• Digits 2, 4, 6, 8, and 0: May 12, 16, 20, 24, and 28.
• The upload platform remains enabled until the last day of July.

The sanctioning regime of Article 14 provides for:

• Failure to submit the annex: 500 basic remunerations for each request.
• Financial institutions and those in the popular and solidarity sector that do not provide the information: from 100 to 500 basic remunerations per request, with a minimum period of 10 business days.
• Late submission by legal entities: from 7 to 10 basic remunerations, depending on whether it is a voluntary settlement or resolved by the Administration.
• Failures in due diligence, lack of self-certification, failure to preserve evidence, or lack of accreditation: between 6% and two basic remunerations.

The resolution text sets 500 remunerations for failure to submit, above the cap of 250 that the preamble itself attributes to the second paragraph of Article 106 of the Internal Tax Regime Law. Obligated parties must accredit themselves only once via official letter to the SRI, preserve due diligence documentation for seven years, and apply the 2023 Standard amendments starting November 1, 2026.

Impact for the financial system

The 55-page resolution shifts the operational burden of automatic exchange to the Ecuadorian financial sector: it requires self-certification for every new account, a review of pre-existing accounts until December 31, 2027, and coordination with control bodies, which must submit the risks detected in their sector to the SRI in February of each year. It also enables the SRI to provide this data to competent authorities of other jurisdictions under criteria of reciprocity and confidentiality, meaning that the banking information of non-residents ceases to be domestic data and becomes part of the global tax transparency network.

Source: Official Registry, Fourth Supplement No. 402, Wednesday, November 4, 2026, (official reference: NAC-DGERCGC26-00000038).