What is the fastest way to obtain an IT3b certificate? First, your bank or investment fund should send you your IT3b tax certificate by mail or email. However, if there is a delay or you need it urgently, you can download the document online by following some simple steps.
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What is an IT3b certificate? The Investor tax certificate (IT3(b)) is the document obtained from a financial institution, such as a bank. It summarizes any local and foreign interest and dividends you have earned from your cash investments with the firm over the past tax year.
Steps to get an IT3b certificate
The IT3b certificate confirms that your finances are clean and well-documented. Here are the ways to download this important document from the websites of different financial institutions:
1. Capitec
Using the Capitec website;
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If using the Capitec app:
2. Nedbank
Here is how to download your IT3b on the Nedbank website:
On the money app;
3. FNB
The procedure for members of FNB is as follows;
4. Standard Bank
If you are new, first register for Standard Bank online bank. Sign in to the online platform with the required credentials, then follow the steps below;
Your IT3b certificate will be downloaded.
5. ABSA
ABSA also has a straightforward method of downloading the IT3b. Simply;
You can obtain your IT3b online from other financial institutions such as;
How do I file IT3b?
When filing tax, any amount paid, due or payable on your investment and any tax withheld must be reported to SARS. Therefore, the IT3b certificate SARS is mandatory for filing taxes if one has investments.
Filing IT3b certificate SARS
The filing process to submit an IT3b to SARS is as simple as using the information in the document to fill in the relevant fields on your tax return. Simply;
- Prepare a data file as per specified BRS.
- Enrol for Third Party Data Submission on SARS eFiling, if you have not, using either Connect:Direct® (Unlimited), eFiling (via a data submission form with a limited volume), or Secured File Gateway [HTTPS] (for files smaller than 10MB).
- To test or validate your data file on the SARS Trade Test Platform, request access from Third Party Data Support, then submit the data on the SARS Production Platform using your preferred channel as instructed above.
- Lastly, declare a summary of your data submissions by submitting the specified declaration form via eFiling.
Note: Filing should be done before the submission due date.
If the IT3b information is already pre-populated on your tax return, compare the information on the document to the pre-populated values. Doing this will help you ensure that the information on the tax certificate is displayed accurately on your tax return.
Even after filing tax returns using the information on the IT3b, it is always good to keep the document for your records. Have you used any option above to download your IT3b certificate from your financial institution? Share your experience with us in the comment section below.
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