What is an Advanced Payment Notification (APN)?

An APN is an application made by an importer to give notice of the intention to make an Advance Import Payment, above R50 000, to a supplier in respect of imported goods. This is submitted via SARS E-filing. An Advance Import Payment is any foreign exchange payment made for the import of goods before the supplier ships the goods. This relates to Balance of Payment (BOP) category 101 (Advance Payments).

Upon an importer’s application for an APN, SARS immediately issues an APN reference number. This reference number needs to be supplied to the facilitating bank to finalise an Advance Import Payment.

As a complimentary service, Future Forex can apply for clients directly or provide guidance if they prefer to apply for themselves.

Forex - Regulations > What is an Advanced Payment Notification (APN)?
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