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Made a mistake on your ITR12T? Here's how to request a correction (RFC)

by , 14 November 2014
Completing an Income Tax Return for Trusts (ITR12T) can be a mission especially when you consider the fact that the new ITR12T requires more information than the previous one did.

This means mistakes can easily creep up.

This brings us to the question: Do you have any recourse when you realise you made a mistake on your ITR12T?

Yes, you do.

According to SARS, once you've submitted your ITR12T and realise you've made a mistake, you can request a correction (RFC).

Read on to find out how to do this.


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Here's how to request a correction if you've made a mistake on your ITR12T

 
On its website, SARS explains that your Trust will only be able to perform a subsequent submission (request for correction) of an ITR12T via eFiling. If your Trust isn't a registered eFiler, visit the nearest SARS branch.
 
Note: If the Request Correction button isn't available (e.g. greyed out), this means you can't submit a request, you'll have to lodge an objection instead.
 
When you go through the process, your return will be pre-populated with the most recent ITR12T information you submitted and a new version number will be allocated.
 
If you're requesting a correction for a return you submitted in the old format, eFiling will display a message when opening the old IT12TR that the form will be converted to the new ITR12T for completion.
 
According to SARS, the new version return is only pre-populated with minimal data.
This means, you must print the old return and re-capture the new information on the new return and submit your correction request.
 
But as with most SARS-related things, there's always a catch.
 
In this case, the catch is, there are certain conditions when SARS won't allow your correction request.
 

SARS won't allow a RFC under the following conditions
 

  • An active verification is in progress for your Trust and one RFC has been allowed or your Trust has already submitted the relevant material;
 
  • An active audit or assurance case is in progress for your Trust;
 
  • SARS performed an agreed estimate for your Trust; and
 
  • SARS has finalised an audit case or a Revised Declaration (RD) for your Trust.
 
While it's human nature to make mistakes, the good news is there are ways to minimise them so you can avoid going through the whole process of requesting a correction.
 
So what can you do?
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Have these four documents ready to complete your ITR12T so you can avoid requesting a correction altogether

 
In this article, we explain that you need these four documents to complete your ITR12T:
 
  1. All certificates and documents relating to income and deductions;
  2. Financial statements and/or administration accounts;
  3. Proof of payment of any tax credits; and
  4. Particulars of assets and liabilities.
 

You'll recall that earlier I mentioned the new ITR12T requires more information


So in addition to having these four documents ready, make sure you include all the information the new ITR12T needs. You can read all about it here.
 
There you have it. If you've made a mistake on your ITR12T, request a correction now that you have the know-how.

If you want to know more about the ITR12T, direct your questions to our experts at the Accounting & Tax Club.


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