RMC No. 45-2022

RMC No. 45-2022 (April 13, 2022) revises the requirements on how the five percent (5%) and twenty percent (20%) penalties for early withdrawal of qualified contributions under the PERA Act of 2008 are remitted. The PERA Administrator must pay the penalties through the BIR's 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, using BIR Form No. 0605 accomplished in the PERA Administrator's name, with an "X" in the "Others" box under line item no. 17 and the phrase "PERA Early Withdrawal Penalty" in the "Specify" box. Penalty amounts must be based on the aggregate totals of the 5% and 20% penalties in the Quarterly Report on PERA Distributions/Early Withdrawals/Terminations. Documentary proofs of payment must be submitted 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.