Countries › Colombia › Guide › 5. FX and capital controls › Exchange sanctions in Colombia: which authority enforces what, DIAN fines in UVT and percentages, Superintendencia de Sociedades fines up to 200 percent, limitation periods and reduced fines for self reporting

Exchange sanctions in Colombia: which authority enforces what, DIAN fines in UVT and percentages, Superintendencia de Sociedades fines up to 200 percent, limitation periods and reduced fines for self reporting

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Last verified: 2026-10-26 · Status: Stable

Three authorities enforce Colombia's exchange rules: DIAN for trade in goods and services and its financing (and residual matters), the Superintendencia de Sociedades for foreign investment, Colombian investment abroad and foreign borrowing by companies, and the Superintendencia Financiera for banks and other FX intermediaries. DIAN fines are fixed in UVT for reporting failures and at 100 percent of the amount for operations outside the FX market, with a 200 UVT floor; the Superintendencia de Sociedades may fine up to 200 percent of the amount, capped at 70 percent if the charges are accepted in time. Liability is objective (intent does not matter), legal representatives, partners, managers and statutory auditors can be jointly liable for DIAN fines, and self reporting before a DIAN visit cuts the fine to 40 percent.

USD figures use the TRM (tasa representativa del mercado) of COP 3,158.43 per US dollar, valid 24 to 26 October 2026, from the official TRM series certified by the Superintendencia Financiera and published on the national open data portal. Amounts in UVT use the 2026 UVT of COP 52,374 (DIAN Resolución 000238 de 2025). Conversions are for orientation only.

Key facts

Fine for paying or receiving compulsorily channelled operations outside the FX market	100 % of amountDecreto Ley 2245 de 2011 art. 3 num. 2, as of 2026-10-26 · in force
Minimum DIAN fine for channelling breaches	200 UVTDecreto Ley 2245 de 2011 art. 3 par. 4, as of 2026-10-26 · in force
DIAN fine per FX declaration not filed, wrong or not kept	25 UVT each, max 1,000 UVT per investigation UVTDecreto Ley 2245 de 2011 art. 3 num. 1, as of 2026-10-26 · in force
Maximum Superintendencia de Sociedades fine for foreign investment exchange breaches	200 % of amountDecreto 1746 de 1991 art. 3, as of 2026-10-26 · in force
DIAN reduced fine if breach admitted before an inspection visit	40 % of the fineDecreto Ley 2245 de 2011 art. 23, as of 2026-10-26 · in force
DIAN term to notify charges for exchange breaches	5 years from the factsDecreto Ley 2245 de 2011 art. 5, as of 2026-10-26 · in force
UVT for 2026	52374 COPDIAN Resolución 000238 de 2025, as of 2026-10-26 · in force

The rule

1. DIAN controls exchange compliance on imports and exports of goods and services, related expenses and foreign currency financing of trade (and residual exchange matters not assigned to another authority) and sanctions under Decreto Ley 2245 de 2011. The Superintendencia Financiera supervises banks and other FX intermediaries and exchange houses. The Superintendencia de Sociedades supervises foreign investment in Colombia, Colombian investment abroad by individuals and companies, and foreign borrowing by public or private companies, and sanctions under Decreto 1746 de 1991.Decreto 4048 de 2008 art. 3 num. 4 and 5; Decreto 2116 de 1992; Decreto 1736 de 2020 art. 7 num. 12 as amended by Decreto 1380 de 2021, Competence summary published by the Superintendencia de Sociedades, 2011-06-28 official text · verified 2026-10-26

2. DIAN fines include: 25 UVT per FX declaration not filed on time, wrong, not shown or not kept, capped at 1,000 UVT per investigation (no breach for errors the rules let you correct at any time); 100 percent of the amount for paying or receiving compulsorily channelled operations outside the FX market or extinguishing them by unauthorized means; 100 percent of the difference for under or over channelling against customs documents or the real value; 40 UVT per month of delay in channelling, capped at 400 UVT; 100 percent of the deposit not constituted; 200 UVT per compensation account report missing or wrong and 25 UVT per month late, capped at 150 UVT; 200 UVT per failure to register, report or transmit information required by the exchange rules and 25 UVT per month late, capped at 100 UVT; 100 percent for unauthorized transfers, foreign currency operations between residents or non compliant derivatives; 30 or 40 percent of undeclared cash on entry or exit; and 100 UVT for any other breach.Decreto Ley 2245 de 2011 (DIAN exchange sanctions regime), Art. 3, num. 1 to 33, 2011-06-28 official text · verified 2026-10-26

3. For the 100 percent fines on channelling (num. 2 to 5 and 7 to 10) the fine is never below 200 UVT and rises by one third if the offender was sanctioned for the same type of breach by a final act in the prior five years; other fines are never below 25 UVT. Where one fact fits several numerals, the highest fine applies. Fines use the UVT and the TRM in force on the date of the breach.
Cost to do it: Minimum fine for a channelling breach in 2026: 200 UVT (COP 10,474,800, about US$3,316).Decreto Ley 2245 de 2011 (DIAN exchange sanctions regime), Art. 3, parágrafos 1, 3 and 4, 2011-06-28 official text · verified 2026-10-26

4. Charges must be notified within five years after the facts (from the last fact for continued breaches, but missed deadlines are not continued breaches), and the sanction or closing decision must be issued and notified within two years after the deadline to answer the charges.Decreto Ley 2245 de 2011 (DIAN exchange sanctions regime), Art. 5, 2011-06-28 official text · verified 2026-10-26

5. Admitting a breach voluntarily and paying a reduced fine ends or prevents the investigation: 40 percent of the fine if done before DIAN starts an inspection visit, 60 percent within the term to answer the charges, and 75 percent within the term to appeal the sanction.Decreto Ley 2245 de 2011 (DIAN exchange sanctions regime), Art. 23, 2011-06-28 official text · verified 2026-10-26

6. Liability for exchange breaches is objective. Legal representatives, partners, administrators, members, statutory auditors, officers and employees who authorize or carry out the breach or omit compliance, and an absorbing company, are jointly liable for DIAN fines imposed on a company.Decreto Ley 2245 de 2011 (DIAN exchange sanctions regime), Art. 32 and art. 33 num. 1, 2011-06-28 official text · verified 2026-10-26

7. The Superintendencia de Sociedades fines exchange breaches up to 200 percent of the proven amount, meaning the value of the operation or investment, graduated by the objective circumstances (non compliance or late compliance, and how late) and proportionality; if the investigated party accepts all charges in writing within 15 business days of notification the fine may not exceed 70 percent. Liability is objective, save proven force majeure. Its action lapses two years after the facts, interrupted by notification of charges, after which it has one more year to decide.
Cost to do it: Unregistered US$1,000,000 investment: up to COP 6,316,860,000 (US$2,000,000); with timely acceptance of charges up to COP 2,210,901,000 (US$700,000).Decreto 1746 de 1991 art. 3 and art. 22, as summarized by the Superintendencia de Sociedades, Art. 3 and art. 22, 1991-07-04 official text · verified 2026-10-26

8. In pending exchange sanction proceedings the authorities must apply Decreto 1044 de 2026 (no deadline to register investment changes and cancellations) as the more favourable rule.Decreto 1068 de 2015, art. 2.17.2.5.1.1 as amended by Decreto 1044 de 2026, Art. 2.17.2.5.1.1, parágrafo 2, 2026-08-05 official text · verified 2026-10-26 · changed: Since 5 August 2026 late registration of investment substitutions and cancellations is no longer a deadline breach, and pending cases must apply the change by favourability.

Area	Authority	Sanction regime
Imports and exports of goods and services, trade finance, residual matters	DIAN	Decreto Ley 2245 de 2011 (fines in UVT or percentages)
Foreign investment in Colombia, Colombian investment abroad, foreign borrowing by companies	Superintendencia de Sociedades	Decreto 1746 de 1991 (up to 200%)
Banks and other FX intermediaries, exchange houses	Superintendencia Financiera	Financial supervision rules

Who enforces which exchange rules (Superintendencia de Sociedades competence summary; Decreto Ley 2245 de 2011)

Breach	Fine	COP and approx. USD
FX declaration late, wrong or not kept	25 UVT each, max 1,000 UVT	25 UVT (COP 1,309,350, about US$415) each; max 1,000 UVT (COP 52,374,000, about US$16,582)
Payment outside the FX market	100% of amount, min 200 UVT	Min 200 UVT (COP 10,474,800, about US$3,316)
Late channelling of export proceeds	40 UVT per month, max 400 UVT	40 UVT (COP 2,094,960, about US$663) per month
Compensation account report missing or wrong	200 UVT each	200 UVT (COP 10,474,800, about US$3,316)
Compensation account report late	25 UVT per month, max 150 UVT	25 UVT (COP 1,309,350, about US$415) per month
Required report or registration not made	200 UVT each	200 UVT (COP 10,474,800, about US$3,316)
Same, made late	25 UVT per month, max 100 UVT	25 UVT (COP 1,309,350, about US$415) per month
Undeclared cash at the border	30% entry, 40% exit	Percentage of the amount
Residual breach	100 UVT per operation	100 UVT (COP 5,237,400, about US$1,658)

DIAN exchange fines in 2026 money (Decreto Ley 2245 de 2011 art. 3; UVT COP 52,374; TRM COP 3,158.43)

Worked example

A Cali importer paid a US$50,000 invoice (about COP 157,921,500) from an unregistered account abroad. The DIAN fine is 100 percent of the amount, above the 200 UVT floor (Decreto Ley 2245 art. 3 num. 2 and par. 4).
If it admits the breach in writing and pays before DIAN begins an inspection visit, it pays 40 percent: about COP 63,168,600 (US$20,000). After charges are notified, 60 percent; after the sanction, 75 percent (art. 23).
Its general manager and statutory auditor, if they authorized the payment, are jointly liable for the fine (art. 33).
Separately, a foreign shareholder never registered a US$1,000,000 capital contribution made in kind. The Superintendencia de Sociedades could fine up to 200 percent of the amount; accepting the charges in time caps it at 70 percent.

Step by step

1. Run an annual exchange compliance review: FX declarations, compensation account reports, loan reports and investment registrations against the books.
2. Correct errors the rules allow you to correct at any time; there is no DIAN breach for those (Decreto Ley 2245 art. 3 num. 1).
3. For a real breach under DIAN, weigh self reporting before a visit (40 percent of the fine) against the five year limitation period.
4. For a Superintendencia de Sociedades case, decide within 15 business days of the charges whether to accept them to cap the fine at 70 percent.
5. Keep supporting documents for the full limitation period.

Common traps

Arguing good faith. Liability is objective under both regimes; only proven force majeure helps before the Superintendencia de Sociedades (Decreto Ley 2245 art. 32).
Assuming the company alone pays. Managers, partners and statutory auditors who authorized or omitted compliance are jointly liable for DIAN fines (art. 33).
Treating a dormant compensation account as safe. The monthly report is due even with no movement (art. 3 num. 12).

Sources

Related: Colombia country profile · live dashboard · central bank and release calendar · our posts on X · where Argentina is involved, see The Argentine Thread guide

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