What Is It?
It involves an employer submitting an accurate Employer Reconciliation Declaration (EMP501), Employee Tax Certificates [IRP5/IT3(a)s] to be issued and if applicable, a Tax Certificate Cancellation Declaration (EMP601).
The three elements that must reconcile in order for your submission to be successful are the:
- Monthly Employer Declarations (EMP201s) submitted.
- Payments made (excluding penalty and interest payments).
- IRP5/IT3(a)s generated – PAYE, SDL and UIF values.
Who Is It For?
All companies who are registered for PAYE/UIF/SDL (EMP201).
When And How Should Submissions Be Made?
Reconciliation declarations should be submitted twice during year of assessment, for the:
- Interim period – which is for the six month period 1 March to 31 August.
– Submission period: Middle Sept to 31 Oct.
- Annual period – which if for the full year 1 March to 28/29 February.
– Submission period: Middle April to 31 May.
Completing your reconciliation online is the quickest, easiest and most convenient option. You can use either:
- e@syFile™ Employer or
- If you have 50 IRP5/IT3(a)s or less, use eFiling.
Copies of all declarations submitted and related supporting documents (relevant material) must be kept for five years.