Foreign Assets Declaration: Who Must File and What Penalties Apply (2026)

The annual foreign assets declaration is an informational obligation required by Colombia’s National Tax and Customs Authority (DIAN) for certain taxpayers. In 2026, it is important to know who is required to file it, how to submit it, and what penalties apply in case of noncompliance.

What is the foreign assets declaration?

This obligation is based on Article 607 of the Colombian Tax Code (Estatuto Tributario), which establishes that taxpayers who own assets abroad of any nature and are subject to income and complementary taxes must file it.

The form used is Form 160 – Annual Foreign Assets Declaration.

This is not a new tax, but rather an informational obligation, intended to allow the DIAN to know about assets and rights held abroad.

Who must file it?

Individuals

Individual taxpayers who are tax residents in Colombia and who, as of January 1 of the corresponding year, own foreign assets whose patrimonial value exceeds a threshold established in UVT.

For 2026, that threshold is 2,000 UVT (approximately COP 104,748,000) to declare assets whose value is above that amount.

Legal entities and unsettled estates

Colombian companies or other national entities that own assets or rights abroad are required to file.

Unsettled estates may also be subject to this obligation, when applicable.

Other relevant criteria

• The taxpayer must be subject to income and complementary taxes.
  
  
• The assets must be effectively located abroad; it is not enough for them to be indirectly linked to Colombia.
  
  

How and when to file it?

How to file

• Through the DIAN online portal, accessing the option “Diligenciar y Presentar” for Form 160 as a registered user.
  
  
• The form must be electronically signed and filed online.
  
  

Filing deadlines (2026)

• Individuals: Between August and October 2026, according to the last digit of the NIT.
  
  
• Legal entities: During May, or according to the applicable income tax calendar.
  
  
• Large taxpayers who own foreign assets exceeding 2,000 UVT as of January 1, 2026: between April 13 and April 27, 2026.
  
  

What must be declared

• Assets owned as of January 1 of the taxable year.
  
  
• The nature of the asset, jurisdiction where it is located, type, and patrimonial value must be detailed.
  
  

Penalties for noncompliance

Types of noncompliance

• Failure to file when required.
  
  
• Late filing.
  
  
• Filing with errors or incorrect information.
  
  

Amount of penalties

• Failure to file is penalized under Article 643 of the Tax Code, specifically numeral 8, which applies to the foreign assets declaration.
  
  
• Late filing penalties may be calculated as a percentage of gross assets or patrimony, for each month or fraction of a month of delay.
  
  
• For example, the penalty may amount to 5% of the gross patrimony reported in the most recent income tax return for foreign assets.
  
  
• The general minimum penalty for 2026 is COP 523,740, according to DIAN, for certain tax noncompliance cases.
  
  

Reductions and special conditions

If the taxpayer files voluntarily before a formal notice, penalty reductions of 50% or 75% may apply.

Benefits of filing and risks of not filing

Benefits

• Compliance avoids penalties and potential future audits.
  
  
• Improves the relationship with the tax authority by demonstrating transparency regarding foreign assets.
  
  
• Allows the DIAN to properly interpret tax residency, income, or patrimony.
  
  

Risks of not filing

• Significant financial penalties that increase over time.
  
  
• Risk of investigation for tax evasion or avoidance if undeclared assets are detected.
  
  
• Possible late-payment interest or surcharges due to omission or late filing.
  
  

Quick checklist to see if you are required to file

• Are you a tax resident in Colombia?
  
  
• Do you own assets, accounts, investments, companies, or other assets abroad as of January 1?
  
  
• Does the patrimonial value of those assets exceed 2,000 UVT (≈ COP 104,748,000 in 2026)?
  
  
• Does a Colombian company or entity in which you participate hold rights over foreign assets?
  
  
• Do you have an active digital signature and access to the DIAN portal to file Form 160?
  
  
• Do you know your filing deadline based on the last digit of your NIT?
  
  
• Do you have all the required information: asset type, value, jurisdiction, and classification?
  
  
• Have you considered the potential penalties for noncompliance?
  
  

📩 At Nexo Legal, we support you step by step:

• We verify whether you are required to file.
  
  
• We correctly calculate the patrimonial value of your assets.
  
  
• We file the declaration with DIAN accurately and without penalties.
  
  

Contact us today and receive a free evaluation of your international tax situation.
Your tax peace of mind starts with a proper declaration.