a) Manual submission
- Go to the IRAS website and search for – PIC cash payout form.
- Complete all the relevant fields
- Print out the form and sign on the appropriate fields (authorised personnel)
- Ensure all details are in order before mailing the signed form to IRAS.
Please keep a copy of the form submitted to IRAS for record purposes.
Once the application is received and approved by the Comptroller of Income Tax (‘’CIT’’), IRAS will mail a letter to the company’s registered address.
If your company has previously applied for GIRO payment with IRAS, the cash payout will be deposited to the registered GIRO account. Otherwise, the IRAS will issue a cheque to the Company.
(Refer to article – ‘’Payment on different taxes’’ for more information on GIRO payment scheme.
b) Online submission (You must first be authorized to use the company’s EASY access code)
- Go to the login page on the right of the website – Login to myTax portal
- Select my organisation / business tax matter
- Login using your SingPass
- Enter your company’s tax reference number – UEN – LOCAL CO XXXXXXXX and proceed to login
- On the left hand side, there is a tab ‘‘Apply for PIC cash payout’’. Follow the instructions stated, verify that all details are in order before clicking on the submit button.
Similar to manual submission, once the application is received and approved by the CIT, IRAS will mail a letter to the company’s registered address.
In the event that the company’s PIC cash payout application is not successful, the CIT will state the reason for the disapproval in the reply letter.