RMC No. 45-2022: Revises the requirements on the manner of remittance of penalties of 5% and 20% for early withdrawal of qualified contribution under Personal Equity and Retirement Account (PERA) Act of 2008

Key points

1. Remittance. The PERA Administrator remits the penalties through the BIR online filing and payment facilities, on or before the last day of the month following the close of the calendar quarter in which the deduction was made.
2. Payment form. BIR Form No. 0605 is filled out under the Administrator’s name. At line item no. 17, an X goes in the Others box, and the phrase PERA Early Withdrawal Penalty goes in the Specify box.
3. Amount. The amount is the aggregate of the 5% and 20% penalties shown in the Quarterly Report on PERA Distributions/Early Withdrawals/Terminations.
4. Proof of payment. The duly filed BIR Form No. 0605, Filing Reference Number and Confirmation or Acknowledgement Receipt go to the PERA Processing Office, Audit Information Tax Exemption and Incentives Division, at aiteid_mos@bir.gov.ph, within five (5) days from the date of payment.

Who is affected

• PERA Administrators

Deadlines and effectivity

• Remittance: on or before the last day of the month following the close of the calendar quarter of the deduction
• Proof of payment: within five (5) days from the date of payment