THE 2017 EMPLOYER annual RECONCILIATION
27 March 2017 - Employer Annual Reconciliation
The Employer Annual Reconciliation starts on 18 April 2017 and employers have until 31 May 2017 to submit their Annual Reconciliation Declarations (EMP501) for the period 1 March 2016 to 28 February 2017 in respect of the Monthly Employer Declarations (EMP201) submitted, payments made, Employee Income Tax Certificates [IRP5/IT3(a)] and ETI, if applicable.
An updated version of e@syFile™ Employer will be available at the time. Information about the version that you should use will be published on the e@syFile™ page. Remember to backup your current information on your computer prior to installing a new version of e@syFile™ Employer.
You can submit your Employer Reconciliation Declaration (EMP501) and Employees Income Tax Certificates [IRP5/IT3(a)s] online via e@syFile™ Employer, or if you have less than 50 employees, via eFiling.
For more information, you can call the SARS Contact Centre on 0800 00 7277.
Don’t forget the following important details:
1. Employer Annual Reconciliation 2017 starts 18 April 2017.
2. Make sure you have the latest version of e@syFile™ Employer
available. To download the latest version, click here
Please note - e@syFile version 6.7.3
E@syfile version 6.7.3
can be used to submit your 2016/02 reconciliation statement (EMP501) and all other reconciliations and re-submissions.
Remember: Always backup your current information on your computer before installing the new version, as the installation may delete your current information.
Top Tip: SARS will from time to time improve the system, to assist you to easily submit your reconciliation. Visit our website regularly or even better, subscribe to our RSS feeds and you will be alerted when any changes are made to the pages you subscribe too!.
- Import the electronic Employee Tax Certificates [IRP5/IT3(a)s] CSV files from your current payroll system
- Reconcile your EMP501 –
- Capture all additional manual IRP5/IT3(a)s, and e@syFile™ Employer will use the information, from all the tax certificates, to automatically calculate the certificate totals for your EMP501.
- Enter your monthly liabilities, payments and Employment Tax Incentive (ETI) information, if applicable, and e@syFile™ Employer will calculate the rest!
3. Manually completed Payroll Tax, placed in a drop-box at a SARS branch or posted, are no longer accepted.
These forms include:
- Monthly Employer Declaration (EMP201)
- Employer Reconciliation Declaration (EMP501)
- Tax Certificate Cancellation Declaration (EMP601)
- Reconciliation Declaration Adjustment (EMP701).
Top Tip: An exception is made for employers with a maximum of five IRP5/IT3(a)s. The employer can still go into a SARS branch where an agent will help them capture these IRP5/IT3(a)s and the EMP501.
Employers should either use eFiling (For 20 IRP5/IT3(a)s or less) or e@syFile™ Employer to submit their declarations. These electronic channels are free, convenient and available 24/7.
4. Make sure your reconciliation submission balances
- The EMP501 must reconcile to your EMP201s, which should have been submitted during the period (giving you a chance to correct this, where needed).
- The EMP201s must reconcile to payments made for the period.
- The EMP201 payments must reconcile to your IRP5/IT3(a)s generated.
Experiencing problems due to duplicate or incomplete EMP501 submissions made on e@syFile™ Employer, read more here
5. Send your reconciliation before the deadline of 31 May 2017, to avoid penalties and interest being charged.
Please note: Submissions made on a disc at a SARS branch is no longer available.
6. The latest Business Requirement Specification: PAYE Employer Reconciliation is available which defines the data submission requirements to SARS.
Stay informed by visiting the website regularly, or even better, subscribe to our RSS feeds
and you will be alerted when any changes are made to the pages you subscribe too!
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