Preservation fund topup ?

[Kosmik]

Necro warning!!!

Is there some SARS approval required for moving from a Pension Fund to a Pension Preservation Fund, and how do you go about getting such approval from SARS these days?

I ask this because it's a field on the form to move money out of the Pension Fund, it's not clear if this is a not applicable scenario on this form.

AFAIK, there is always some form of tax declaration with a fund transfer. Either an exemption, like fund to fund so no income tax is charged or a tax declaration.

 

[j4ck455]

AFAIK, there is always some form of tax declaration with a fund transfer. Either an exemption, like fund to fund so no income tax is charged or a tax declaration.

Googled and found this, which suggests (if I haven't missed something when I skimmed through it with a glazed over sense of bewilderment) in 1.1 that the receiving fund has to complete an ROT electronically:

Guide to Complete, Submit and Cancel a Recognition of Transfer | South African Revenue Service

Note: Only one of the above numbers must be provided.

www.sars.gov.za