RMC No. 103-2020: Prescribes the registration of Overseas Filipinos for purposes of opening a bank account in availing of Personal Equity and Retirement Account (PERA)

Summary

RMC No. 103-2020 prescribes the registration of Overseas Filipinos for opening a bank account, a requirement for eligibility to avail of the Personal Equity and Retirement Account (PERA).

Key points

1. TIN application. Overseas Filipino investors without a TIN can apply through an authorized representative or by e-mail.
2. Manual application. Through an authorized representative, they submit the requirements in Annex A5.1 [E.O. 98, Individual (Local)] of RMC No. 57-2020 to Revenue District Office (RDO) No. 39, South Quezon City.
3. E-mail application. Applications go to rdo_39css@bir.gov.ph with scanned copies of BIR Form No. 1904 and the passport bio page (with exit stamp if applicable). Also needed is an Overseas Employment Certificate (OEC) from the POEA, or an official document showing income in a foreign country in the year of PERA Contribution, in lieu of a Special Power of Attorney. A marriage certificate is added for a legitimate spouse.
4. Proof of registration. No TIN Card is issued. For manual filing, BIR Form No. 1904 stamped received with the TIN issued is the proof. For e-mail filing, the acknowledgment receipt or reply to the e-mail is sufficient.

Who is affected

• Overseas Filipinos without a TIN who want to open a PERA bank account

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.