Changes for page Cancelling an ROT

Last modified by Megan Kahl on 2021/11/19 14:25
<
From version < 14.1 >
edited by Megan Kahl
on 2021/09/15 11:23
To version < 17.1 >
edited by Megan Kahl
on 2021/09/15 11:27
>
Change comment: There is no comment for this version

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3 +(% style="text-align: center;" %)
4 += (% style="color:#2980b9; font-size:28px" %)**Cancelling an ROT**(%%) =
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4 4  
7 +
5 5  (% style="text-align: center;" %)
6 -== (% style="color:#2980b9" %)** Cancelling a Recognition of Transfer with SARS**(%%) ==
9 +(% style="color:#2980b9" %)**BY**
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9 9  
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14 +(% style="text-align:center" %)
15 +[[image:Cancelling a ROT_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
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17 +{{info}}
18 +(% style="text-align: center;" %)
19 +(% style="color:#2980b9; font-size:20px" %)**TABLE OF CONTENTS**
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22 +{{toc/}}
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25 +{{/info}}
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29 +(% style="text-align: center;" %)
30 +== (% style="color:#2980b9" %)**Cancelling a Recognition of Transfer with SARS**(%%) ==
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32 +
33 +
10 10  (% style="color:#2980b9" %)**With effect from December 2019, a request to cancel an ROT can only be submitted through SARS eFiling. The information below has been taken from the SARS document: GUIDE TO COMPLETE, SUBMIT AND CANCEL A RECOGNITION OF TRANSFER.**
11 11  
12 12  (% style="color:#2980b9" %)**IMPORTANT INFORMATION TO CONSIDER WHEN CANCELLING AN ROT**
13 13  
14 -* A (% style="color:#2980b9" %)__tax directive__(%%) cannot be cancelled where an ROT has been submitted and the ROT indicator is **‘Yes’** (once the receiving Fund confirms receipt of the transfer electronically) on SARS system. Therefore, the(% style="color:#2980b9" %) __ROT__ (%%)must first be cancelled before the tax directive can be cancelled.
38 +* A (% style="color:#2980b9" %)__tax directive__(%%) cannot be cancelled where an ROT has been submitted and the ROT indicator is (% style="color:#2980b9" %)**‘Yes’**(%%) (once the receiving Fund confirms receipt of the transfer electronically) on SARS system. Therefore, the(% style="color:#2980b9" %) __ROT__ (%%)must first be cancelled before the tax directive can be cancelled.
15 15  
16 16  * Cancellations of ROT’s and tax directives may cause hardship to the member.
17 17  
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27 27  
28 28  * Once an ROT has been cancelled, it cannot be reinstated. The only way to ‘reinstate’ an ROT is for the Receiving Fund to submit the ROT again electronically.
29 29  
30 -
31 -
32 32  (% style="text-align: center;" %)
33 33  == (% style="color:#2980b9" %)**Reasons for a Request to Cancel an ROT**(%%) ==
34 34  
... ... @@ -40,17 +40,17 @@
40 40  
41 41  * The Transferring Fund did not deduct the debt e.g. housing loans / housing guarantees before the benefit was transferred.
42 42  
43 -*
65 +*
44 44  ** The document to be attached to the request to prove the claim, must be the settlement letter from the institution hosting the loan.
45 45  
46 46  * The maintenance order was not deducted from the benefit before it was transferred or used to purchase an annuity.
47 47  
48 -*
70 +*
49 49  ** A copy of the court order must also be attached.
50 50  
51 51  * The Transferring Fund did not take the claim of employee debt or a damage claim from the employer into account.
52 52  
53 -*
75 +*
54 54  ** A letter from the employer indicating the nature of the debt or damage claim must also be attached to the request.
55 55  
56 56  * The tax directive was submitted using an incorrect income tax reference number or other demographic information is incorrect.
... ... @@ -57,7 +57,7 @@
57 57  
58 58  * {{id name="_Hlk36815779"/}}AIPF contributions were not allowed as a deduction when the member retired or the tax directive reason was death before retirement.
59 59  
60 -*
82 +*
61 61  ** Documentation must be provided to confirm the AIPF contributions.
62 62  
63 63  * The Fund Administrator did not complete the Public Sector Fund container, where the member has transferred from a Public Sector Fund to an approved fund, and the pre-1998 vested right was not taken into account.
... ... @@ -67,7 +67,7 @@
67 67  
68 68  * Additional Voluntary contributions were not taken into account when the member exited the fund.
69 69  
70 -*
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71 71  ** Provide a letter from the Fund that the additional voluntary contributions was received as well as confirmation that SARS was informed of the additional voluntary contributions that was not taken into account before the member exited from the fund.
72 72  
73 73  * The incorrect reason on the original tax directive application was used and that the incorrect reason has a tax implication. For example, the reason for application is ‘Resignation’ was used instead of ‘Termination of Employment (Retrenchment)’.
... ... @@ -85,8 +85,6 @@
85 85  
86 86  * The incorrect PAYE number was used. The Fund must inform SARS of the incorrect PAYE number used and SARS will make a note on the directive to indicate the correct PAYE number.
87 87  
88 -
89 -
90 90  (% style="text-align: center;" %)
91 91  == (% style="color:#2980b9" %)**How to Submit a Request to Cancel an ROT**(%%) ==
92 92  
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94 94  
95 95  * The requestor must be a registered eFiler and logged in on eFiling to be able to submit the ROT cancellation.
96 96  
97 -* Once logged in, refer to the top Blue ribbon and select(% style="color:#2980b9" %) ‘**Services’**.
117 +* Once logged in, refer to the top Blue ribbon and select(% style="color:#2980b9" %) ‘**Services’**.
98 98  
99 99  [[image:Cancelling a ROT_html_994fd1882441e97a.png||height="23" width="604"]]
100 100  
101 -* The requestor must select (% style="color:#2980b9" %)‘**Request’**(%%) on the(% style="color:#2980b9" %) ‘**Tax Directives**’(%%) menu.
121 +* The requestor must select (% style="color:#2980b9" %)‘**Request’**(%%) on the(% style="color:#2980b9" %) ‘**Tax Directives**’(%%) menu.
102 102  
103 103  [[image:Cancelling a ROT_html_b4447634450d79a9.png||height="244" width="143"]]
104 104  
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108 108  
109 109  * On the (% style="color:#2980b9" %)‘**ROT Cancellation**’(%%) screen the requester has three options:
110 110  
111 -*
131 +*
112 112  ** (% style="color:#2980b9" %)‘**Request to Cancel ROT**’(%%) – The requestor must use this option to submit a request to cancel an ROT.
113 113  ** (% style="color:#2980b9" %)‘**Existing ROTs**’(%%) – Can only be used by the Fund Administrator / Long-term Insurer who has submitted the ROT through SARS eFiling. A list of the ROT’s submitted will be displayed and the requestor can select the ROT they wish to cancel. They will to be able to view the detail required to submit the request to cancel the ROT.
114 114  ** (% style="color:#2980b9" %)‘**ROT Cancellation Request**’ (%%)– This function can only be used if the request to cancel an ROT was previously submitted and now the requestor is only enquiring on the status of the request.
115 115  
116 -
117 117  [[image:Cancelling a ROT_html_9932dfa59615588a.png||height="204" width="463"]]
118 118  
119 119  
120 120  * The fields marked with an asterisk (*) are mandatory fields, and must be provided, although all the fields must be completed on the screen.
121 121  
122 -
123 123  (% style="color:#2980b9" %)**The information captured on the ROT must be provided in these fields, as described below:**
124 124  
125 125  
... ... @@ -128,7 +128,7 @@
128 128  ** (% style="color:#2980b9" %)‘**Directive Number / IRP3 Number**’(%%) – Enter the tax directive number that was used to submit an ROT.
129 129  ** (% style="color:#2980b9" %)‘**ID Number**’(%%) – Enter the ID number of the original member who has elected to transfer / purchase annuity(ies). It must be the same ID number that was entered when the tax directive application was submitted.
130 130  *** If the requestor wants to cancel an ROT02, where the annuity was purchased in the name of a beneficiary the ‘ID number’ of the beneficiary must be provided.
131 -** (% style="color:#2980b9" %)‘**Other ID number e.g. passport**’(%%) – Only the (% style="color:#2980b9" %)‘**ID Number**’(%%) field or the(% style="color:#2980b9" %) ‘**Other ID number e.g. passport**’ (%%)field must be completed, both fields cannot be completed.
149 +** (% style="color:#2980b9" %)‘**Other ID number e.g. passport**’(%%) – Only the (% style="color:#2980b9" %)‘**ID Number**’(%%) field or the(% style="color:#2980b9" %) ‘**Other ID number e.g. passport**’ (%%)field must be completed, both fields cannot be completed.
132 132  *** If the request is to cancel an ROT02, where the annuity was purchased in the name of a beneficiary the ‘Other ID number’ of the beneficiary must be provided.
133 133  ** (% style="color:#2980b9" %)‘**Tax Reference Number**’(%%) – must be provided if the tax reference number was entered on the tax directive application form, when the ROT was submitted.
134 134  *** If the request is to cancel an ROT02 where the annuity was purchased in the name of a beneficiary, the ‘Tax Reference Number’ of the beneficiary must be provided.
... ... @@ -138,31 +138,27 @@
138 138  ** (% style="color:#2980b9" %)‘**Cancellation Reason**’(%%) – A short reason for the request to cancel the ROT must be provided. A letter with detailed reasons must be attached to the request.
139 139  * A confirmation message will be displayed when the requester clicks on the (% style="color:#2980b9" %)‘**Submit’**(%%) button.
140 140  
141 -
142 142  [[image:Cancelling a ROT_html_c11242b4f94951b2.png||height="109" width="410"]]
143 143  
144 144  
145 145  * On the (% style="color:#2980b9" %)‘**Confirm Cancellation**’ (%%)screen, the requestor has two options.
146 -** If the requestor clicks on the (% style="color:#2980b9" %)‘**No’**(%%) button the system will display the(% style="color:#2980b9" %) ‘**Request to Cancel ROT**’ (%%)form again.
163 +** If the requestor clicks on the (% style="color:#2980b9" %)‘**No’**(%%) button the system will display the(% style="color:#2980b9" %) ‘**Request to Cancel ROT**’ (%%)form again.
147 147  ** If the requestor selects the (% style="color:#2980b9" %)‘**Yes**’(%%) button the system will display a message to prompt the requestor to upload the supporting documents, for example the claim form / option form the member has completed, and any other relevant supporting documents.
148 -* When the requestor clicks on the(% style="color:#2980b9" %) ‘**Ok**’ (%%)button, the (% style="color:#2980b9" %)‘**Document upload**’(%%) screen will open and allow the requester to upload the required supporting documents.
165 +* When the requestor clicks on the(% style="color:#2980b9" %) ‘**Ok**’ (%%)button, the (% style="color:#2980b9" %)‘**Document upload**’(%%) screen will open and allow the requester to upload the required supporting documents.
149 149  
150 -
151 151  [[image:Cancelling a ROT_html_2c808c49bcca1445.png||height="191" width="454"]]
152 152  
153 153  
154 -*
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155 155  ** The file size may not exceed 5mb and the following file types will be accepted: .doc .docx .(% style="color:#2980b9" %)**gif .Jiff .jpeg .jpg .pdf .png .xls .xlsx**
156 156  * The requestor can now (% style="color:#2980b9" %)‘**browse’** (%%)and upload the document.
157 157  * If the requester selects the (% style="color:#2980b9" %)‘**SUBMIT’**(%%) button the ROT cancellation submission confirmation message will be displayed.
158 158  
159 -
160 160  [[image:Cancelling a ROT_html_be327ece21fa0132.png||height="125" width="489"]]
161 161  
162 162  
163 163  * Existing ROT’s – can only be accessed by the Fund Administrator / Long-term Insurer who has submitted the ROT through (% style="color:#2980b9" %)//SARS eFiling//(%%). A list of the ROT’s submitted will be displayed and the requestor can select the ROT to be cancelled. Once selected the requestor can review the information relating to the ROT to be cancelled, thereafter select the function (% style="color:#2980b9" %)**‘Request to Cancel ROT’**.
164 164  
165 -
166 166  [[image:Cancelling a ROT_html_f8ddc28d9dc62f39.png||height="83" width="616"]]
167 167  
168 168  
... ... @@ -169,7 +169,6 @@
169 169  
170 170  * (% style="color:#2980b9" %)‘**ROT Cancellation Request**(%%)**’** – Use this function to determine the status of the request to cancel an ROT.
171 171  
172 -
173 173  [[image:Cancelling a ROT_html_7faeeeda69b44689.png||height="233" width="547"]]
174 174  
175 175  
... ... @@ -179,8 +179,6 @@
179 179  ** If the status is (% style="color:#2980b9" %)‘**Declined’** (%%), then click on the (% style="color:#2980b9" %)‘**SELECT’** (%%)button to view the reason the request was declined.
180 180  ** If the status is (% style="color:#2980b9" %)‘**In Progress**’(%%) the request is still under review and has not been finalised yet.
181 181  
182 -
183 -
184 184  (% style="text-align: center;" %)
185 185  == (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
186 186  

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