What happens when SARS pays a refund into an old bank account?

What happens when SARS pays a refund into an old bank account?

• 12 October 2023
• Tax Administration
• SARS

Before submitting an Income Tax Return, ensure that all details including banking details are updated. It is a taxpayer’s responsibility to always ensure that SARS has their correct bank details.

SARS only pays refunds into valid bank accounts. If the ‘old’ bank account is still open and valid, SARS will be unable to assist the taxpayer. The taxpayer will have to consult their bank.

However, if the account is closed, the credit will be returned by the bank and automatically reversed by SARS. This also invalidates the bank details and communication will be issued to the taxpayer.

For information on how to change banking details using eFiling, please click on the following: Adding or Changing Banking Details | South African Revenue Service (sars.gov.za).

SARS will require supporting documents, the detail of which is listed as per the enclosed: Relevant Material or Supporting Documents | South African Revenue Service (sars.gov.za)c

Source: SARS

0 COMMENTS

LEAVE A COMMENT