EMP501 – Employment Reconciliation Declaration

Share This Post

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.

More To Explore

Companies now have new reporting obligations for "beneficial ownership" | CFO360 Accountants
Accounting

Companies Now Have New Reporting Obligations For “Beneficial Ownership”

Companies now have new reporting obligations for “beneficial ownership” Recent announcements on the amendments to the Companies Act 71 of 2008 regarding beneficial ownership were made by the Companies and Intellectual Property Commission (CIPC). Part of the revisions requires that corporations file and update Beneficial Ownership information as and when necessary, giving the CIPC the

Trust and PBO Reporting Requirements Are Now Official | CFO360 Accountants
Accounting

Trust and PBO Reporting Requirements Are Now Official

Trust and PBO reporting requirements are now official. Public benefit organizations (PBOs) and Trusts, but not solar panel installers, are now included on the final list of third-party data providers required to transmit taxpayer information to the South African Revenue Service (Sars). Trusts and PBOs are permitted to report for the first round voluntarily in

Do You Want To Boost Your Business?

drop us a line and keep in touch

Scroll to Top