The Treasury Department (TD) annually revises and publishes a new version of the Withholding Vouchers and Informative Declarations that are required to be submitted by employers or withholding agents.
Thus, the TD issued the Internal Revenue Informative Bulletin No. 20-20 to inform on the publication of the Withholding Vouchers and Informative Declarations forms for 2020; and to inform on the most important changes made to these forms.
Following, we present the most relevant information as well as the due dates.
| Form Numbers | Form Name | Due Date |
| 499R-2/W-2PR | Withholding Voucher *Declare if the compensation includes payments for health services rendered by an employee considered a health professional. *Inform if exempt salaries were paid to a hard to recruit professional. |
February 1, 2021 |
| 499 R-3 | Reconciliation statement of income tax retained | February 1, 2021 |
| 480.5 | Summary of the Informative Declarations | February 1, 2021, March 1, 2021, April 15, 2021, or November 30, 2021, as they apply. |
| 480.6A | Informative Declaration-Other Income not subject to withholding *Include Payments for Virtual and Technological Tools and Other Subscriptions *Include association fees |
March 1, 2021 |
| 480.6B | Informative Declaration-Other Income subject to withholding. | March 1, 2021 |
| 480.6B.1 | Annual reconciliation Statement of other income subject to withholding. | March 1, 2021 |
| 480.6C | Informative Declaration-Payments to non-residents or to sources outside Puerto Rico *These include payments for services rendered outside Puerto Rico and other payments not subject to withholding. |
April 15, 2021 |
| 480.30 | Annual Income Tax withholdings at source for non-residents
|
April 15, 2021 |
| 480.6D | Informative Declaration-Exempt and Excluded income and Exempt Income subject to the Alternative Basic Tax *Information on Qualified Payments for Assistance to Bear Disasters must be included. *Information on Debt Cancellation and government benefits must be included. |
March 1, 2021 |
| 480.6E | Informative Declaration-Sales sent by mail. | February 1, 2021 |
| 480.6G | Informative Declaration-Transactions made through electronic means. | March 1, 2021 |
| 480.6SP | Informative Declaration-Rendered Services | March 1, 2021 |
| 480.6SP.2 | Annual Reconciliation Statement for Rendered Services | March 1, 2021 |
| 480.7 | Informative Declaration-Individual Retirement Account * Inform on contributions, distributions, or both. |
March 1, 2021, or November 30,2021, as they apply |
| 480.7A | Informative Declaration-Mortgage Interests | February 1, 2021 |
| 480.7B | Informative Declaration-Educational Contribution Account | March 1, 2021, or November 30,2021, as they apply |
| 480.7B.1 | Annual Reconciliation Statement of IRAs and Educational Contribution Account
|
March 1, 2021 |
| Form Numbers | Form Name | Due Date |
| 480.7C | Informative Declaration-Retirement Plans and Annuities | March 1, 2021, or November 30, 2021, as they apply |
| 480.7C.1 | Annual Reconciliation Statement of withholdings on Retirement Plans and Annuities | March 1, 2021 |
| 480.7D | Informative Declaration-Rent of automobiles | February 1, 2021 |
| 480.7E | Optional Informative Declaration-Ads, insurance premiums, telecommunication services, Internet and cable or satellite access *Combined services line is added. |
No later than the due date for filing the income tax return, including extensions |
| 480.7F | Annual Declaration for payments received from ads, insurance premiums, telecommunication services, Internet and cable or satellite access | March 1, 2021 |
Filing of all Withholding Vouchers and Informative Declarations must be made electronically through SURI. Once they are filed, the employer or withholding agent must hand over a copy to the recipient within the next seven (7) calendar days of the filing due date.
We recommend you verify the list of all the suppliers to which you made payments in 2020 and collect all the required information of name and employer’s number, address, and total or partial exemption if these apply, so you can prepare the forms. Remember that if these forms are not duly prepared, you will not be able to claim the expenses on your 2020 Income Tax Return.
