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IRP5 banking details differ at SARS

Posted 28 July 2015 under Tax Questions


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Karen says:
27 July 2015 at 16:40

An employee in my department had his salary paid into his wife's bank account. Upon the entity providing him with his IRP 5, he stated that the HR department must have requested the information which he would like to have on his IRP 5, probably because now his registered details with SARS, (banking details), will not correspond to the details on his IRP5.

Is the onus not on the employee to provide the company with valid and correct banking details?
Or can the employee change the details only on his IRP 5?

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TaxTimTaxTim says:
28 July 2015 at 4:05

It is a tricky situation because the salary can be paid into whichever account he wishes it to be paid into. However SARS will have two sets of banking details on their records, the official one and then the IRP5 details. He will need to check with them which is set up for receiving refunds and he could change it when filing his tax return.


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