Help: Moving FROM Singapore, Cancelling PR, Withdraw CPF

[Guest]

Hi All,

I am planning to leave Singapore in a month, on a permanent transfer to my Company's India office. I have been here for over 5 years, with 3 years as a PR.

I have been trying to find the sequence and procedure for

1. Income tax clearance
2. Surrendering my PR
3. Withdrawing my CPF

Have called IRAS, ICA and CPF offices, but none of them can give me the sequence/ timing of events.

I would appreciate if someone can help. I am looking for some kind of a guide or checklist so that I don;t need to make return trips just to sign for my CPF or renounce my PR.

Is there some way i can do all of this before i leave? Any advise would be appreciated. (A tax consultant is doing my tax filing, but they also don;t have any info on this)

[Savage]

This is an email from a friend of mine who surrendered his PR in case I need to do it too. I think its exactly what you need:

Cancelling PR
Go down to SiR/ICA (or whatever they call themselves at this moment) and inform the information counter that you want to cancel your PR. Be sure to take your passport, IC and the entry permit. They will take you into an interview room. Don't worry, no one will interview you. A pleasant officer will let you ask you if you had any dependant PRs (no). She will inform that once PR is cancelled, a social visit visa will be issued for a month and that will help you finish off all work and leave Singapore. She will take back your IC and entry permit and cancel the re-entry permt. Then she will stamp a 1 month social visit from that day and give you one half of the disembarkation form/card. She will also give you a letter stating that ICA has accepted your PR cancellation request and that you have returned the IC as well as the entry permit. Keep this letter safely.

To the CPF board
Take the letter you got from ICA and go down to the CPF board. They will use this letter to close your CPF account. For quicker processing, pass them a bank account number in Singapore to remit your CPF amount. If I am not mistaken, they can also provide demand drafts (issued in your name only) etc. and send it to your permanent address overseas, if you cant wait in Singapore for the money to arrive in the bank. Bring along some document showing that you indeed have that account. One of the month's statement of account will do. Else you will be asked to sign an indemption form. They will need about 10 working days (i.e excluding Sunday and public holidays) to get the money into your account. I got the amount in my DBS account on the 9th day. If your employer has to pay any more CPF money to you, they will give you a letter instructing your company that you have closed your CPF account and that any amount (employer or employee contribution) still due to you should be paid to you directly. Take this letter and pass it to your company. They should then be able to give you the money directly. They will have to fill up the reverse section of that letter and send it back to CPF board.

The IRAS
Go down to IRAS and get an IR21 form. This form is to be filled when someone is permanently leaving Singapore and the taxes have to be settled. Get the company to fill it for you and return it to IRAS. Companies that use e-filing can fill the IR21 form online. Ask your employer if this can be done, so that you don't have to run to IRAS twice. IRAS will then compute the tax that you should be paying. Pay it. Note that the CPF board will ask IRAS for an "OK" with respect to your taxes before they credit the CPF money to you. If you have not filled in the IR21 form and not filed your taxes, IRAS will not give the green light to CPF board. If you are rushing (as I was), do let the IRAS officer know your emergency. They may help you by expediting the process. Ofcourse for this, e-filing will not work. Person-to-person contact works wonders in these cases. They took about 5 working days in my case.


That should cover everything that you will need to do in a normal case when dealing with ICA, IRAS and CPF board.

[rakya]

Savage,

you have been very very helpful!! thank you

I have been hunting for information like this for the past 2 weeks and none of the goofs at my multimillion$ company, or the mm$ consulting company (big 5, my a$$), or the cpf/ira/ica could tell me what's the sequence to be followed.

there are clear procedures, of course- but neither department will comment on what they need before they can do their bit, and that got us running around in circles...

thanks a ton once again!!
and a big thank you to singapore expats for this forum.

[Savage]

Well....someone went through all the trouble to find these things out and it wasn't me...so I'll just pass on the thanks

[Yutenji]

Well....someone went through all the trouble to find these things out and it wasn't me...so I'll just pass on the thanks

Hi -- Huge Kudos to Savage for (a) the great information and (b) the honesty about the source of the information. Great job.

[vocathe]

Hi,

This is very useful information. I am also planning to leave Singapore and withdraw my PR and CPF.

May I know if you have to pay tax on the CPF withdraw? I know that all income tax has to be be settled. Just wondered if they will deduct extra on the CPF amount in our account.

Besides, are there any other deductions that they will take into consideration?

Am looking forward to hearing from you

Cheers,

[sundaymorningstaple]

No. The CPF & the interest it has accrued is not taxable by the Singapore Government. However, the tax status in you home country is what you need to think about.......

sms

[vocathe]

Thanks sundaymorningstaple ...

[macgok]

This is an email from a friend of mine who surrendered his PR in case I need to do it too. I think its exactly what you need:

Cancelling PR
Go down to SiR/ICA (or whatever they call themselves at this moment) and inform the information counter that you want to cancel your PR. Be sure to take your passport, IC and the entry permit. They will take you into an interview room. Don't worry, no one will interview you. A pleasant officer will let you ask you if you had any dependant PRs (no). She will inform that once PR is cancelled, a social visit visa will be issued for a month and that will help you finish off all work and leave Singapore. She will take back your IC and entry permit and cancel the re-entry permt. Then she will stamp a 1 month social visit from that day and give you one half of the disembarkation form/card. She will also give you a letter stating that ICA has accepted your PR cancellation request and that you have returned the IC as well as the entry permit. Keep this letter safely.

To the CPF board
Take the letter you got from ICA and go down to the CPF board. They will use this letter to close your CPF account. For quicker processing, pass them a bank account number in Singapore to remit your CPF amount. If I am not mistaken, they can also provide demand drafts (issued in your name only) etc. and send it to your permanent address overseas, if you cant wait in Singapore for the money to arrive in the bank. Bring along some document showing that you indeed have that account. One of the month's statement of account will do. Else you will be asked to sign an indemption form. They will need about 10 working days (i.e excluding Sunday and public holidays) to get the money into your account. I got the amount in my DBS account on the 9th day. If your employer has to pay any more CPF money to you, they will give you a letter instructing your company that you have closed your CPF account and that any amount (employer or employee contribution) still due to you should be paid to you directly. Take this letter and pass it to your company. They should then be able to give you the money directly. They will have to fill up the reverse section of that letter and send it back to CPF board.

The IRAS
Go down to IRAS and get an IR21 form. This form is to be filled when someone is permanently leaving Singapore and the taxes have to be settled. Get the company to fill it for you and return it to IRAS. Companies that use e-filing can fill the IR21 form online. Ask your employer if this can be done, so that you don't have to run to IRAS twice. IRAS will then compute the tax that you should be paying. Pay it. Note that the CPF board will ask IRAS for an "OK" with respect to your taxes before they credit the CPF money to you. If you have not filled in the IR21 form and not filed your taxes, IRAS will not give the green light to CPF board. If you are rushing (as I was), do let the IRAS officer know your emergency. They may help you by expediting the process. Ofcourse for this, e-filing will not work. Person-to-person contact works wonders in these cases. They took about 5 working days in my case.


That should cover everything that you will need to do in a normal case when dealing with ICA, IRAS and CPF board.

Hi Savage,
Ur information was very useful. I did cancel my PR before 13 days. I also applied for withdrawal of CPF money before 12 days. I have not yet received the amount in my account. What do I do now. Wait or Push CPF. Any reasons for delay?

Thanks n Advance

[sundaymorningstaple]

Do you reckon savage will respond? Do you reckon he is even still looking on this board? His last post was in August 2008.

[radramesh]

Hi All,

Greetings.

Could anyone advice me whether I should take all of my family members? or myself alone is sufficient on their behalf to renonuce the PR?

Cheers
Ramesh

[ksl]

Hi All,

Greetings.

Could anyone advice me whether I should take all of my family members? or myself alone is sufficient on their behalf to renonuce the PR?

Cheers
Ramesh

That would depend on your spouse, if they wanted to renounce too and also draw their CP. they would have to sign i would think.

[radramesh]

Thanks Ksl.

Is anyone know about the tax to be paid for the CPF amount for expat in India? or it is not taxable?

Thanks
Ramesh

[revhappy]

Thanks Ksl.

Is anyone know about the tax to be paid for the CPF amount for expat in India? or it is not taxable?

Thanks
Ramesh

It is not taxable. In India Income earned overseas, if you are an NRI for the financial year, is exempt from tax. So no worries, you can remit the proceeds from CPF to your Indian A/C and dont have pay any tax.

[carteki]

Hi all,

I know I'm resurecting an old thread, just thought that it would be more useful if the information was kept here.

On withdrawal of CPF monies there is tax payable. Is there a way that you can transfer the funds to a similar retirement vehicle without having to pay tax?

Thanks
Kim