Effective 1 March 2021, the South African Reserve Bank (SARB) removed themselves from the process of Financial Emigration. The move was gladly welcomed by Authorised Dealers (banks), as this took away the burdensome process banks had to follow guided by Exchange Control Rulings. This eliminated the completion of the MP336(b) form which was required in conjunction with an emigration tax clearance certificate from the South African Revenue Service (SARS) to notify the SARB of one’s non-residence for Exchange Control purposes. However, banks were left on their own to find ways to still monitor and report to SARB all remittances and transactions in and out of the ‘non-resident’ bank accounts.