EMPLOYER ANNUAL RECONCILIATIONS (EMP 501)

Every employer who is registered for Pay-as-you-earn(PAYE), Unemployment Insurance Fund(UIF) or Skills Development Levy(SDL), should submit an EMP501.

An employer is required to submit an accurate reconciliation declaration (EMP501) in respect of the monthly declarations (EMP201) that was submitted, payments made and the IRP5 / IT3(a) certificates for the following periods:

  • Interim period: this is for the period from 1 March to 31 August 2015
  • Annual period: this is for the period from 1 March to 29 February 2016

The Employer Annual Reconciliations allow employers to accurately calculate the difference, if any, between the total value of the tax certificates issued, the total liability declared (EMP201) and the total payments made to SARS.

Employers are required to submit their Employer Annual Reconciliations (EMP 501) between 18 April and 31 May 2016 to SARS.

It is recommended that employers accurately verify and update each employee’s personal and financial details before submitting their Annual Reconciliation Declaration (EMP501) and Employees Income Tax Certificates [IRP5/IT3(a)s] to SARS.

Penalties are charged on the following:

  1. Non-submission of an Employer Annual Reconciliation (EMP501) on or before the due date.
  2. Non-submission of employee IRP5 / IT3(a) certificates.
  3. Submission of incorrect or inaccurate data relating to the IRP5 / IT3(a) certificates

At CMV, we are more than capable of assisting you with the successful submission of your Annual Reconciliation Declaration (EMP501).


CMV Group of Companies

Tel : 012 991 4400
Fax : 012 991 3001
Physical: 17 Midas Avenue, Olympus, Pretoria, 0081
E-mail: info@cmv.co.za

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