EMP501 Annual Reconciliation for Trading Companies

Product Description

The EMP501 Annual Reconciliation is a mandatory declaration for all South African employers, including trading companies, to submit to SARS. This vital submission reconciles your monthly PAYE, UIF, and SDL contributions (declared via EMP201s) with the IRP5/IT3(a) certificates issued to your employees for the tax year. Our service ensures your trading company's EMP501 submission is accurate, complete, and submitted on time, helping you avoid penalties, maintain good standing with SARS, and provide correct tax certificates to your staff with confidence.

What's Included

• Preparation and review of EMP501 declaration
• Reconciliation of PAYE, UIF, and SDL against IRP5/IT3(a) data
• Submission of the EMP501 to SARS via eFiling
• Issuance of IRP5/IT3(a) certificates to employees
• Assistance with any SARS queries related to the submission

Prerequisites

• Access to your SARS eFiling profile
• Payroll reports for the entire tax year
• Monthly EMP201 submission records for the tax year
• Employee details including ID numbers, tax numbers, and remuneration data
• Confirmation of all IRP5/IT3(a) data issued