Changes for page Cancelling an ROT

Last modified by Megan Kahl on 2021/11/19 14:25
<
From version < 16.1 >
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

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3 -(% style="text-align: center;" %)
4 -= (% style="color:#2980b9; font-size:28px" %)**Cancelling an ROT**(%%) =
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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**(%%) ==
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12 12  
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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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31 -(% style="text-align: center;" %)
32 -== (% style="color:#2980b9" %)**Cancelling a Recognition of Transfer with SARS**(%%) ==
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36 36  (% 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.**
37 37  
38 38  (% style="color:#2980b9" %)**IMPORTANT INFORMATION TO CONSIDER WHEN CANCELLING AN ROT**
39 39  
40 -* 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.
41 41  
42 42  * Cancellations of ROT’s and tax directives may cause hardship to the member.
43 43  
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53 53  
54 54  * 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.
55 55  
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56 56  (% style="text-align: center;" %)
57 57  == (% style="color:#2980b9" %)**Reasons for a Request to Cancel an ROT**(%%) ==
58 58  
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109 109  
110 110  * 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.
111 111  
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112 112  (% style="text-align: center;" %)
113 113  == (% style="color:#2980b9" %)**How to Submit a Request to Cancel an ROT**(%%) ==
114 114  
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116 116  
117 117  * The requestor must be a registered eFiler and logged in on eFiling to be able to submit the ROT cancellation.
118 118  
119 -* 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’**.
120 120  
121 121  [[image:Cancelling a ROT_html_994fd1882441e97a.png||height="23" width="604"]]
122 122  
123 -* 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.
124 124  
125 125  [[image:Cancelling a ROT_html_b4447634450d79a9.png||height="244" width="143"]]
126 126  
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135 135  ** (% 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.
136 136  ** (% 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.
137 137  
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138 138  [[image:Cancelling a ROT_html_9932dfa59615588a.png||height="204" width="463"]]
139 139  
140 140  
141 141  * The fields marked with an asterisk (*) are mandatory fields, and must be provided, although all the fields must be completed on the screen.
142 142  
122 +
143 143  (% style="color:#2980b9" %)**The information captured on the ROT must be provided in these fields, as described below:**
144 144  
145 145  
146 -*
126 +*
147 147  ** Enter the (% style="color:#2980b9" %)**‘Original ROT application ID’**(%%) – This is the ROT01 ID or ROT02 ID number generated by the Interface Agency that was used to submit an ROT.
148 148  ** (% style="color:#2980b9" %)‘**Directive Number / IRP3 Number**’(%%) – Enter the tax directive number that was used to submit an ROT.
149 149  ** (% 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.
150 150  *** 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.
151 -** (% 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.
152 152  *** 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.
153 153  ** (% 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.
154 154  *** 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.
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158 158  ** (% 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.
159 159  * A confirmation message will be displayed when the requester clicks on the (% style="color:#2980b9" %)‘**Submit’**(%%) button.
160 160  
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161 161  [[image:Cancelling a ROT_html_c11242b4f94951b2.png||height="109" width="410"]]
162 162  
163 163  
164 164  * On the (% style="color:#2980b9" %)‘**Confirm Cancellation**’ (%%)screen, the requestor has two options.
165 -** 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.
166 166  ** 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.
167 -* 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.
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169 169  [[image:Cancelling a ROT_html_2c808c49bcca1445.png||height="191" width="454"]]
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171 171  
172 -*
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173 173  ** 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**
174 174  * The requestor can now (% style="color:#2980b9" %)‘**browse’** (%%)and upload the document.
175 175  * If the requester selects the (% style="color:#2980b9" %)‘**SUBMIT’**(%%) button the ROT cancellation submission confirmation message will be displayed.
176 176  
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177 177  [[image:Cancelling a ROT_html_be327ece21fa0132.png||height="125" width="489"]]
178 178  
179 179  
180 180  * 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’**.
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182 182  [[image:Cancelling a ROT_html_f8ddc28d9dc62f39.png||height="83" width="616"]]
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185 185  
186 186  * (% style="color:#2980b9" %)‘**ROT Cancellation Request**(%%)**’** – Use this function to determine the status of the request to cancel an ROT.
187 187  
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188 188  [[image:Cancelling a ROT_html_7faeeeda69b44689.png||height="233" width="547"]]
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194 194  ** 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.
195 195  ** If the status is (% style="color:#2980b9" %)‘**In Progress**’(%%) the request is still under review and has not been finalised yet.
196 196  
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197 197  (% style="text-align: center;" %)
198 198  == (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
199 199  

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