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Mark said: 12 September 2024 at 21:26 There is an IRP5 from a company I don't recognise, with a value I didn't enter. I have two IRP5's and entered that data but on my final submission I can see three IRP5's. How can I verify if this is correct or not as I don't want to get penalised. It could be from moving a Retirement Annuity but will I have to pay tax on this, or will it effect my tax return in any way? |
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TaxTim Nicci said: 13 September 2024 at 14:27 An IRP5 is issued by the fund administrator when a retirement fund is moved from one provider to another. Please see our blog on IRP5/IT3a lumpsums for further details. There should be no tax consequences if the funds were transferred and not withdrawn and paid to you. Even if no funds were paid to you, an IRP5/IT3a will be issued which must be included in your tax return. You can check this information by requesting a copy of the IRP5 and / or tax directive from your retirement fund provider. |
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