How to Transfer Money from Your US LLC to Mexico
Complete guide to sending money from your US business bank account to Mexico (MXN). Compare fees, speeds, and regulations for Mexico-bound transfers.
Quick Facts
In This Guide
Overview
If you own a US LLC and need to transfer money to Mexico, you have several options ranging from traditional bank wires to modern fintech services. The best choice depends on the transfer amount, urgency, and whether you prioritize low fees or fast delivery.
Important Note for Mexico
Mexico is the largest remittance recipient from the US. Many transfer services specialize in US-Mexico corridor. CLABE (18-digit interbank code) is required for all Mexican bank transfers.
Best Transfer Methods
Wise
Best rate for bank-to-bank transfers.
Remitly
Excellent for US-Mexico transfers. Express delivery available.
Bank Wire (SWIFT)
CLABE number (18 digits) required.
Xoom (PayPal)
Fast delivery, multiple pickup options including OXXO stores.
Fees & Speed Comparison
| Service | Fees | Speed | FX Rate |
|---|---|---|---|
| Wise | 0.5–1.2% | 1–2 business days | Mid-market rate |
| Remitly | $0–$3.99 | Minutes to 1 business day | Very competitive |
| Bank Wire (SWIFT) | $25–$40 | 1–3 business days | 1–2% markup |
| Xoom (PayPal) | $0–$4.99 | Minutes to 1 business day | Competitive |
Regulations & Requirements
When transferring money to Mexico, be aware of these regulatory requirements:
- Banco de México regulates foreign exchange
- No restrictions on receiving international transfers
- SAT (Mexican tax authority) monitors large incoming transfers
- Cash deposits over MXN 15,000/month trigger reporting
Common Pitfalls to Avoid
- CLABE (18 digits) is mandatory for bank deposits
- Do not confuse CLABE with debit card number
- Mexican banks may charge receiving fees for SWIFT transfers
- USD accounts at Mexican banks have different CLABE than MXN accounts
Tax Implications
Transferring money from your US LLC to Mexico has important tax considerations on both sides:
- No US withholding on LLC distributions (disregarded entity)
- Mexican residents must report worldwide income to SAT
- US-Mexico tax treaty provides favorable treatment
- FBAR filing required if aggregate foreign accounts exceed $10,000
Pro Tips for Transferring to Mexico
- Remitly often has the best rates for the US-Mexico corridor
- Always use CLABE, not account number, for bank transfers
- For large amounts, compare Wise with Remitly
- Consider keeping some funds in a USD account at a Mexican bank
FBAR & US Reporting Requirements
FBAR (FinCEN Form 114): If you have foreign bank accounts (including in Mexico) with an aggregate balance exceeding $10,000 at any time during the year, you must file an FBAR by April 15 (automatic extension to October 15).
FATCA (Form 8938): If your foreign financial assets exceed $50,000 at year-end (or $75,000 at any time), you must report them on Form 8938 with your tax return.
Form 5472: Your foreign-owned LLC must file Form 5472 annually to report transactions with foreign related parties, including transfers to your account in Mexico.
Next Steps
File Form 5472
Report your LLC's transactions with foreign owners. Required annually.
FBAR Guide
Learn about foreign bank account reporting requirements.
Open a US Bank Account
Guide to opening a US business bank account for your foreign LLC.
Mexico LLC Tax Guide
Complete tax guide for Mexico residents who own a US LLC.
Get Tax Filing Reminders
Never miss a deadline. Get reminders for Form 5472, FBAR, and other filing deadlines.
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