Pay attention because this is important, the Colombian government is confirming several bank account seizures!! Yes, you can go to pay anything and your account could be without money… But relax, it is not for everyone, even the news has obviously made many citizens nervous…
Now, after these alarming headlines, let’s take a breath and let us explain, this measure exists, obviously, but it is not massive or indiscriminate. It is directed only at those who appear on the official list of debtors of the DIAN. Are you a debtor?
Can they seize bank accounts?
Unfortunately yes, but as we said, only those belonging to individuals or companies that have active debts with the DIAN (National Tax and Customs Directorate of Colombia) and that have ignored the notices. That is, taxpayers with unpaid taxes, pending filings, or individuals or entities with open administrative proceedings.
It is important to remember that before reaching this situation, the DIAN sends some notifications and gives time to resolve the issue, but if you have ignored the notices, it is normal to face a possible seizure… Be careful with that…
What happens when an account is seized?
DIAN sends the order to the bank, and when the order is activated, the bank blocks the account and all associated cards, no payments, transfers, or withdrawals can be made with that account, everything is put on hold, so you can have 0$ in your account bank, especially if it is your main account or your main source of income…
Why December?
Because it is the end of the fiscal year and Colombia seeks to recover all outstanding debts before starting the new fiscal period. It is a routine action that happens every year, although this year the alarms have gone off. The Executive insists that these funds go to social programs, public investment, and economic stability.
Why can’t banks do anything?
Because banks are not the ones who decide on seizures, they only follow executive orders of the DIAN, so ehen they receive the official notification, they are required to act without the ability to intervene. That is why it is important to review your tax situation before the DIAN decides to seize your account!!
How can I know if I’m on the DIAN list?
The easiest way is to check the official DIAN channels, online or just asking in the office, there you can see if you have debts, open processes, or pending notifications that need attention, do not ignore any letter, email or anything they send because then surprises happen and we don’t know why, pay special attention and try to solve the problem as soon as possible…
What if I have some debts?
You still have time, you can pay it directly or request a payment agreement with the bank before the seizure process begins, and you’re lucky because, sometimes, by starting the process, you can stop it, or at least avoid a total account freeze…
And if your account has already been seized?
If the seizure process has already started, you can request a review, formalize an agreement, or submit proof of payment, if you have it, of course… Once the DIAN authorizes the release, the bank restores access as if nothing had happened.
Less fear and more information
Even though people talk about “mass seizures”, the reality is much more specific. As you can see, it does not affect the majority of citizens, only those who officially appear as debtors. If you are not one of them, you do not need to worry. Just remember that this happens every December.