Employer Annual Declarations (EMP501): 1 April to 31 May 2024

Written on 11/04/2024
Nexia SAB&T

As an employer, it’s essential to stay informed about your tax obligations. The Employer Annual Declaration period is a crucial time when you need to submit accurate information to the South African Revenue Service (SARS). Let’s dive into the details:

What is the Employer Annual Declaration (EMP501)?

The EMP501 is an annual reconciliation declaration that employers must submit. It provides SARS with up-to-date payroll information about their employees. During this period, employers review their records, ensure accuracy, and report the necessary details.

Key Dates:

  • Opening Date: The Employer Annual Declaration period opens on 1 April 2024.
  • Closing Date: Employers have until 31 May 2024 to complete and submit their EMP501.


What Should Your EMP501 Include?

  1. Monthly Employer Declarations (EMP201):
  • These declarations cover PAYE (Pay-As-You-Earn), Unemployment Insurance Fund (UIF) contributions, and the Skills Development Levy.
  • Ensure that your EMP201 forms are accurate and reflect the correct deductions.
  1. Information about Payments Made:
  • Include details of payments made during the specified period (excluding penalties and interest).
  • This information helps SARS verify compliance and track tax payments.
  1. Employee Tax Certificates (IRP5/IT3 [a]):
  • Generate and submit tax certificates for your employees.
  • These certificates cover the tax year from 1 March 2023 to 29 February 2024.


How to Submit Your EMP501:

  1. Review Your Records: Gather accurate payroll information for the specified period.
  2. Complete the EMP501 Form: Ensure all details are correct.
  3. Submit Electronically: Use the SARS eFiling platform to submit your EMP501.

As an employer, your timely submission of the EMP501 ensures transparency, clarity, and compliance. Should you require professional assistance in this regard please do not hesitate to contact our offices.

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