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Money transferred to and from overseas: International funds transfer instruction (IFTI) reports

An international funds transfer instruction (IFTI) involves either:

  • an instruction that is accepted in Australia for money or property to be made available in another country, or
  • an instruction that is accepted in another country for money or property to be made available in Australia.

If you send an IFTI out of Australia or receive an IFTI into Australia, you must submit an IFTI report to AUSTRAC within 10 business days.

There are two types of IFTI reports:

  • IFTI-Es are made by financial institutions and apply to transfers of money
  • IFTI-DRAs are made by businesses, organisations or individuals who are not financial institutions such as remittance service providers and casinos. They apply to transfers of money or property.

The content on this website is general and is not legal advice. Before you make a decision or take a particular action based on the content on this website, you should check its accuracy, completeness, currency and relevance for your purposes. You may wish to seek independent professional advice.

Last updated: 1 Oct 2020
Page ID: 31

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