How do I lodge an International Funds Transfer Instruction (IFTI) report?
Updated 23 May 2026
Quick answer
An IFTI report must be lodged with AUSTRAC within 10 business days of sending or receiving an international funds transfer instruction. Reports are submitted via AUSTRAC Online. IFTIs capture details of the transfer, the parties involved, and the ordering and beneficiary financial institutions.
An International Funds Transfer Instruction (IFTI) is a report that captures the movement of funds between Australia and overseas. Under the AML/CTF Act, reporting entities that send or receive international funds transfer instructions must report them to AUSTRAC, giving the regulator visibility over cross-border money flows.
Who is required to lodge IFTIs?
IFTI obligations primarily apply to financial institutions — banks, remittance dealers, and payment service providers — that transmit funds internationally on behalf of clients. For most accounting firms, the IFTI obligation will not apply directly to your firm as the transmitter.
However, if your firm operates a client account or trust accountand facilitates international transfers on behalf of clients — for example, in conveyancing, estate administration, or corporate advisory — you may be the entity with the IFTI obligation. Legal advice is recommended if you are unsure whether your firm's activities create an IFTI reporting obligation.
What information is required in an IFTI?
- The date the instruction was sent or received
- The amount and currency of the transfer
- The ordering party (person sending the funds) — name, address, account number
- The beneficiary party (person receiving the funds) — name, address, account number
- The ordering financial institution and the beneficiary financial institution (name, country, BIC/SWIFT code)
- Any intermediary financial institutions involved in the transfer
The 10 business day deadline
The IFTI must be lodged within 10 business days of the day the instruction was sent or received. Business days in this context are Australian business days. AUSTRAC Online processes IFTI submissions — you will need an active AUSTRAC Online account to lodge reports.
Penalties for failing to lodge IFTIs
Failure to lodge a required IFTI is subject to the same civil penalty regime as failing to lodge an SMR — potentially up to $22 million for a body corporate per contravention. Each unreported transfer is a separate contravention.
Record-keeping
You must retain records of every IFTI lodged — and all underlying transfer instructions — for seven years. This includes the IFTI submission confirmation from AUSTRAC Online.
How ClearAML helps
ClearAML tracks international transfer activity in your client files, alerts you when an IFTI may be required, and maintains a complete log of all reports lodged — making it straightforward to demonstrate IFTI compliance if AUSTRAC audits your reporting record.