The former Reds star is on the verge of completing a switch to the German giants after Barcelona confirmed a deal has been agreed.
The loan move with an option to buy will see the Anfield club land the entirety of the €20m (£18m) loan fee as a result of money they are still owed by Barcelona for the purchase of the Brazilian, says Sport.
Coutinho moved to Barcelona back in January 2018 after five years at Anfield in a deal worth a total of £142million.
But it included a number of clauses and it is reported Coutinho's premature departure from the club after a tough 18 months will see the Reds land an extra chunk of the fee.
The deal for Coutinho will see Bayern cover his €12m wages and have an option to buy for €120m at the end of the year-long loan spell on June 30.