FAQ: What are the requirements that must be complied with by an approved PBO?

An organisation approved by the Commissioner as a PBO will be required to:
  • Submit annual income tax returns via SARS eFiling or manually;
  • Submit a copy of all amendments to its founding document to the Commissioner, as soon as they have been affected;
  • Inform the Commissioner of any address change for correspondence within 60 days after the address change takes place;
  • Inform the Commissioner of any change in persons accepting fiduciary responsibility for the organisation or office bearers (resignations or new appointments);
  • Inform the Commissioner if the PBO is no longer carrying on approved PBAs or ceases to exist;
  • Retain all books of accounts, records and other documents for a period of 5 years from the date of the submission of the income tax return and if requested by SARS submit copies of such documents;
  • Ensure that at all times the PBO complies with the requirements relative to the PBO approval.

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