What happens if I don’t have a local bank account?

If you don’t have a local bank account you need to do the following:

  • Select the field for ‘Mark here if you do not have a local savings or cheque account’ on the applicable form
  • Complete the declaration for no local savings/cheque account.

Top Tip: If you select you don’t have a local savings or cheque account at any bank in South Africa and if this statement is incorrect, you may be liable for an administrative penalty of up to R16 000 (For Income Tax purposes only).

Last Updated: 07/04/2015 2:12 PM     print this page
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