Stemming from the Covid-19 health emergency, the Mexican Social Security Institute released statement No. 213/2020 regarding simplified installment payments, foreseeing that some employers will have difficulty in making payments for the employer/worker dues.
The objective of the Mexican Social Security Institute is to enter into a payment installment agreement with interested employers who are not required to cover tax interest, and who are not subject to fines, since the employer freely complies with its obligations with regards to social security which originates from the health emergency; per the Agreement of the General Health Council [in Spanish: el Acuerdo del Consejo de Salubridad General], published on March 30 of the current year in the Official Gazette of the Federation[in Spanish: el Diario Oficial de la Federación].
The institute provides to the employers the following phone number: “800-6232-323”, and e-mail address: “firstname.lastname@example.org” to provide support for entering into a simplified installment agreement, taking into consideration the principal amount covered by the employer is 20% of the total dues of the employer, and 100% of the workers´ dues. The deferment period with monthly interest is chosen among the following periods:
1. Up to 12 months: 1.26%
2. From 12 to 24 months: 1.53%
3. From 24 to 48 months: 1.82%
If the employer chose to request the agreement, then the information listed below must be sent using the previously mentioned e-mail. It is therefore not necessary to go the regional office. The following documentation must be submitted:
1. Employer registration card.
2. Officially valid identification from employer or legal representative
3. Articles of incorporation of legal entity (only those pages that indicate the original company name, as well as those that have the folio of the Public Registry of Property and Commerce) [in Spanish: el Registro Público de la Propiedad y del Comercio].
4. Power of attorney from legal representative (only the page that indicates the power conferred on the legal entity. For public entities or for acts of administration it must be specific in order to process the application).
5. A separate sheet requesting authorization for payment installments and the periods for making such.
Once the institute verifies the information, the employer will receive by e-mail the draft agreement along with the payment slip which can be paid through a SPEI transfer to the account: 021180550300067765, bank: HSBC. Once the payment is made, it will be assumed that the agreement with the Mexican Social Security Institute (IMSS), is accepted.
The Payroll Plus team would be pleased to provide you with any support should you have any questions.