URGENT NOTICE - Unclaimed Benefits & Unapproved Funds

URGENT NOTICE – Unclaimed Benefits & Unapproved Funds

UNCLAIMED BENEFITS

As you are aware, currently the tax directive process allows a tax directive to be issued where insufficient / incomplete taxpayer information is not available on the tax directive application particularly for the directive code 3923 (transfer unclaimed benefit). These tax directives are issued with directive reason 48 (Transfer Unclaimed Benefits) or 54 (Transfer Inactive Member with Insufficient Information).

Prior to the software expansion, if a taxpayer submitted an ITR12 return and captured the information on the certificate, or a certificate was pre-populated with source code 3923, or if a directive exists with one of the abovementioned reasons and it was not declared on the return, the submitted return was rejected with reason “IRP5 directive number invalid”.

After the expansion that was implemented yesterday, these returns will now be processed.

UNAPPROVED FUNDS

A software update was also implemented in the return process where directives where created with directive reason ”Other” (Unapproved Funds). Source code 3907 must be used on these certificates / returns.

This fix was implemented for all directive form types where ‘Other’ is used for Unapproved Funds. These returns will now be processed.