The Central Bank of the Argentine Republic (BCRA) has issued Communication “A” 8460/2026, published 27 July 2026, allowing salaries in Argentina to be paid and deposited in U.S. dollars (USD) in “salary accounts.” Previously, these accounts were generally held only in Argentine pesos (ARS). The new rule formally recognizes U.S. dollars as an accepted currency for deposits in salary accounts and aligns their operation with the existing framework applicable to salary and savings accounts.1
WHY THIS MATTERS
The BCRA has authorized the use of U.S. dollars for salary accounts, introducing an important development that could affect compensation practices in Argentina, particularly in the context of global mobility and international assignments. The measure provides employers with additional flexibility to align compensation structures with global policies that commonly use the U.S. dollar as a reference currency while potentially offering employees greater predictability in a historically volatile currency environment. The change could be especially relevant for expatriates currently assigned to Argentina and for future inbound assignees, as it may facilitate the receipt of compensation through U.S. dollar-denominated salary accounts. For multinational organizations, the new framework could create opportunities to reassess assignment package design and broader cross-border compensation strategies. Depending on the circumstances, the measure may provide additional flexibility when designing remuneration arrangements for internationally mobile employees while aligning local practices with global compensation approaches
Key Highlights
Acceptance of USD for Salary Accounts
Through Communication “A” 8460, published on July 27, 2026, the BCRA incorporated the U.S. dollar as a permitted currency for deposits in salary accounts (Cuentas Sueldo) regulated under Argentina's framework governing Savings Accounts, Salary Accounts, and Special Deposit Accounts. As a result, financial institutions may offer salary accounts denominated in U.S. dollars for the crediting of remuneration arising from employment relationships. The measure expands the currencies available for salary accounts and provides an additional banking mechanism that employers and employees may consider when structuring compensation arrangements.
Scope of Application
The measure applies specifically to salary accounts established under the BCRA regulations governing deposits. These accounts are linked to employment relationships and are intended for the crediting of wages, salaries, and similar employment-related remuneration.
Deposits and Withdrawals
The regulation also clarifies the operational framework applicable to U.S. dollar salary accounts. Cash deposits and withdrawals in U.S. dollars may be performed at the branch where the account is held. Where a financial institution has the necessary operational capacity and availability of U.S. dollar banknotes, these transactions could also be made available through other branches of the same institution, ATMs, and self-service terminals.
In addition, the regulation confirms that the statutory free-of-charge treatment applicable to salary accounts extends to amounts credited as remuneration from the employment relationship. Any credited amounts that are not withdrawn remain in the account without time limitation, preserving the account holder's right to access such funds in the future.
The BCRA has indicated that updated sections of the consolidated deposit regulations are expected to be issued to incorporate these amendments formally into the applicable regulatory framework.
KPMG INSIGHTS
KPMG in Argentina states that:
The authorization of U.S. dollar salary accounts introduces a new alternative for structuring compensation arrangements in Argentina and may be of particular interest to multinational employers and internationally mobile employees. While the measure expands the available banking framework for the payment of employment income, organizations may wish to assess how these arrangements interact with existing employment, payroll, tax, social security, and regulatory requirements.
Employers and assignees might wish to consider:
- Employers could identify whether current payroll systems and banking arrangements can support U.S. dollar salary accounts.
- Employers may review assignment compensation policies to determine whether U.S. dollar-denominated salary accounts align with existing mobility program design.
- Employers could assess whether any employee communications or payroll processes need to be updated to reflect the new account option.
- Assignees may verify with their employer and financial institution whether U.S. dollar salary accounts are available and appropriate in their circumstances.
Companies and assignees with questions regarding the scope of the new rules, their potential application, or the implications for existing or future compensation arrangements may wish to consult with their usual KPMG adviser or a member of the KPMG Global Mobility Services team in Argentina (see the Contacts section).
ENDNOTE:
1 Red de Boletines Oficiales (in Spanish), “Comunicación “A” 8460/2026,” published on July 27, 2026.
Contacts
Disclaimer
The information contained in this newsletter was submitted by the KPMG International member firm in Argentina.
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