Changes for page Cancelling an ROT

Last modified by Megan Kahl on 2021/11/19 14:25
<
From version < 15.1 >
edited by Megan Kahl
on 2021/09/15 11:27
To version < 14.1 >
edited by Megan Kahl
on 2021/09/15 11:23
>
Change comment: There is no comment for this version

Summary

Details

Page properties
Content
... ... @@ -1,46 +1,17 @@
1 1  
2 2  
3 -(% style="text-align: center;" %)
4 -= (% style="color:#2980b9; font-size:28px" %)**Cancelling an ROT**(%%) =
5 5  
6 6  
7 -
8 8  (% style="text-align: center;" %)
9 -(% style="color:#2980b9" %)**BY**
6 +== (% style="color:#2980b9" %)** Cancelling a Recognition of Transfer with SARS**(%%) ==
10 10  
11 11  
12 12  
13 -
14 -(% style="text-align:center" %)
15 -[[image:Cancelling a ROT_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
16 -
17 -(% style="text-align: center;" %)
18 -== ==
19 -
20 -{{info}}
21 -(% style="text-align: center;" %)
22 -(% style="color:#2980b9; font-size:20px" %)**TABLE OF CONTENTS**
23 -
24 -
25 -{{toc/}}
26 -
27 -
28 -{{/info}}
29 -
30 -
31 -
32 -
33 -
34 -(% style="text-align: center;" %)
35 -== (% style="color:#2980b9" %)**Cancelling a Recognition of Transfer with SARS**(%%) ==
36 -
37 -
38 -
39 39  (% 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.**
40 40  
41 41  (% style="color:#2980b9" %)**IMPORTANT INFORMATION TO CONSIDER WHEN CANCELLING AN ROT**
42 42  
43 -* 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.
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.
44 44  
45 45  * Cancellations of ROT’s and tax directives may cause hardship to the member.
46 46  
... ... @@ -57,6 +57,7 @@
57 57  * 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.
58 58  
59 59  
31 +
60 60  (% style="text-align: center;" %)
61 61  == (% style="color:#2980b9" %)**Reasons for a Request to Cancel an ROT**(%%) ==
62 62  
... ... @@ -68,17 +68,17 @@
68 68  
69 69  * The Transferring Fund did not deduct the debt e.g. housing loans / housing guarantees before the benefit was transferred.
70 70  
71 -*
43 +*
72 72  ** The document to be attached to the request to prove the claim, must be the settlement letter from the institution hosting the loan.
73 73  
74 74  * The maintenance order was not deducted from the benefit before it was transferred or used to purchase an annuity.
75 75  
76 -*
48 +*
77 77  ** A copy of the court order must also be attached.
78 78  
79 79  * The Transferring Fund did not take the claim of employee debt or a damage claim from the employer into account.
80 80  
81 -*
53 +*
82 82  ** A letter from the employer indicating the nature of the debt or damage claim must also be attached to the request.
83 83  
84 84  * The tax directive was submitted using an incorrect income tax reference number or other demographic information is incorrect.
... ... @@ -85,7 +85,7 @@
85 85  
86 86  * {{id name="_Hlk36815779"/}}AIPF contributions were not allowed as a deduction when the member retired or the tax directive reason was death before retirement.
87 87  
88 -*
60 +*
89 89  ** Documentation must be provided to confirm the AIPF contributions.
90 90  
91 91  * 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.
... ... @@ -95,7 +95,7 @@
95 95  
96 96  * Additional Voluntary contributions were not taken into account when the member exited the fund.
97 97  
98 -*
70 +*
99 99  ** 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.
100 100  
101 101  * 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)’.
... ... @@ -114,6 +114,7 @@
114 114  * 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.
115 115  
116 116  
89 +
117 117  (% style="text-align: center;" %)
118 118  == (% style="color:#2980b9" %)**How to Submit a Request to Cancel an ROT**(%%) ==
119 119  
... ... @@ -121,11 +121,11 @@
121 121  
122 122  * The requestor must be a registered eFiler and logged in on eFiling to be able to submit the ROT cancellation.
123 123  
124 -* Once logged in, refer to the top Blue ribbon and select(% style="color:#2980b9" %) ‘**Services’**.
97 +* Once logged in, refer to the top Blue ribbon and select(% style="color:#2980b9" %) ‘**Services’**.
125 125  
126 126  [[image:Cancelling a ROT_html_994fd1882441e97a.png||height="23" width="604"]]
127 127  
128 -* The requestor must select (% style="color:#2980b9" %)‘**Request’**(%%) on the(% style="color:#2980b9" %) ‘**Tax Directives**’(%%) menu.
101 +* The requestor must select (% style="color:#2980b9" %)‘**Request’**(%%) on the(% style="color:#2980b9" %) ‘**Tax Directives**’(%%) menu.
129 129  
130 130  [[image:Cancelling a ROT_html_b4447634450d79a9.png||height="244" width="143"]]
131 131  
... ... @@ -135,16 +135,18 @@
135 135  
136 136  * On the (% style="color:#2980b9" %)‘**ROT Cancellation**’(%%) screen the requester has three options:
137 137  
138 -*
111 +*
139 139  ** (% style="color:#2980b9" %)‘**Request to Cancel ROT**’(%%) – The requestor must use this option to submit a request to cancel an ROT.
140 140  ** (% 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.
141 141  ** (% 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.
142 142  
116 +
143 143  [[image:Cancelling a ROT_html_9932dfa59615588a.png||height="204" width="463"]]
144 144  
145 145  
146 146  * The fields marked with an asterisk (*) are mandatory fields, and must be provided, although all the fields must be completed on the screen.
147 147  
122 +
148 148  (% style="color:#2980b9" %)**The information captured on the ROT must be provided in these fields, as described below:**
149 149  
150 150  
... ... @@ -153,7 +153,7 @@
153 153  ** (% style="color:#2980b9" %)‘**Directive Number / IRP3 Number**’(%%) – Enter the tax directive number that was used to submit an ROT.
154 154  ** (% 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.
155 155  *** 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.
156 -** (% 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.
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.
157 157  *** 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.
158 158  ** (% 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.
159 159  *** 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.
... ... @@ -163,27 +163,31 @@
163 163  ** (% 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.
164 164  * A confirmation message will be displayed when the requester clicks on the (% style="color:#2980b9" %)‘**Submit’**(%%) button.
165 165  
141 +
166 166  [[image:Cancelling a ROT_html_c11242b4f94951b2.png||height="109" width="410"]]
167 167  
168 168  
169 169  * On the (% style="color:#2980b9" %)‘**Confirm Cancellation**’ (%%)screen, the requestor has two options.
170 -** 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.
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.
171 171  ** 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.
172 -* 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.
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.
173 173  
150 +
174 174  [[image:Cancelling a ROT_html_2c808c49bcca1445.png||height="191" width="454"]]
175 175  
176 176  
177 -*
154 +*
178 178  ** 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**
179 179  * The requestor can now (% style="color:#2980b9" %)‘**browse’** (%%)and upload the document.
180 180  * If the requester selects the (% style="color:#2980b9" %)‘**SUBMIT’**(%%) button the ROT cancellation submission confirmation message will be displayed.
181 181  
159 +
182 182  [[image:Cancelling a ROT_html_be327ece21fa0132.png||height="125" width="489"]]
183 183  
184 184  
185 185  * 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’**.
186 186  
165 +
187 187  [[image:Cancelling a ROT_html_f8ddc28d9dc62f39.png||height="83" width="616"]]
188 188  
189 189  
... ... @@ -190,6 +190,7 @@
190 190  
191 191  * (% style="color:#2980b9" %)‘**ROT Cancellation Request**(%%)**’** – Use this function to determine the status of the request to cancel an ROT.
192 192  
172 +
193 193  [[image:Cancelling a ROT_html_7faeeeda69b44689.png||height="233" width="547"]]
194 194  
195 195  
... ... @@ -200,6 +200,7 @@
200 200  ** If the status is (% style="color:#2980b9" %)‘**In Progress**’(%%) the request is still under review and has not been finalised yet.
201 201  
202 202  
183 +
203 203  (% style="text-align: center;" %)
204 204  == (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
205 205  

Applications

Navigation

Need help?

If you need help with XWiki you can contact: