Annual EMP501 February 2013 reconciliation deadline – Are you ready?

All employers must prepare and submit their Annual EMP501 declaration (EMP501) and employees’ IRP5’s to SARS reconciling the PAYE/SDL/UIF paid during the tax year 1 March 2012 to 28 February 2013 before 31 May 2013.  Late submission of the EMP501 return AND submission of omitted information/incomplete IRP5 certificates will result in severe penalties being levied.

Warning – Reconciliations which do not balance will now also be subjected to penalties being imposed by SARS!

SARS Income Tax numbers for all employees (regardless of income level) are part of the mandatory information required by SARS – submission of the Annual February 2013 IRP5/IT3 certificate without the mandatory information will be seen as incomplete information and penalties will be levied by SARS (even if submitted before the deadline).

Use the following steps to ensure correct and timeous submission:

  1. Use latest version of SARS E@syfile Employer software
  2. Import the payroll files or create manual employee data
  3. Reconcile your EMP501 and correct errors
  4. Ensure correct and submission before the deadline

Our payroll systems provide accurate monthly payslips and reports required for the monthly/annual statutory returns (EMP201 and WCA), along with electronic IRP5’s at the end of the tax year for your employees – no manual calculations required and saving you precious time!

Please contact Juanita Roman at our offices on 021 683 4834 by 26 April 2013 to schedule an appointment for in-house assistance to ensure that you meet your payroll obligations effortlessly.


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