Learn how to declare FGTS birthday withdrawal in Income Tax

Taxpayers who made the anniversary withdrawal of the Severance Income Guarantee Fund (FGTS) during the year 2021 should pay attention when declaring the 2022 Income Tax. closes on the 31st of this month.

Another important detail that requires attention from the public is the difference between the types of withdrawal: the birthday withdrawal and the extraordinary withdrawal.

Extraordinary Withdrawal

It has a limit of R$ 1,000, and is intended for all people with a balance in the FGTS, even if they are not working. The extraordinary cashout will be available for cashout according to a calendar. Check the dates here.

Anniversary Withdrawal

The anniversary withdrawal is the possibility for each person to make an annual withdrawal from their FGTS accounts. The amount allowed for withdrawal varies according to the available balance and the greater the value in the account, the lower the percentage that the worker can withdraw per year. The withdrawal period and the release of the money will depend on the month of birth.

Know under what circumstances the birthday withdrawal must be declared and how to do it:

Declaring the birthday loot

The taxpayer must only file the FGTS anniversary withdrawal statement if the amount withdrawn in the year exceeds R$ 40 thousand. Tax lawyer Cláudio Leite Pimentel explains that “as for the income tax declaration, the Fund value is classified as non-taxable income “, as long as it does not exceed the aforementioned limit.

However, the expert informs that if the taxpayer is obliged to declare the IR for other reasons established by the Federal Revenue, “the amount withdrawn must be declared regardless of the amount”.

The taxpayer must then, when filling in the declaration, insert the exact amount in the “exempt and non-taxable income” tab, in Code 4 – Compensation for termination of employment contract, including as a POS, and for work accident; and FGTS.

Who should declare the IR 2022

• Taxpayers with taxable income, subject to adjustment in the declaration, whose sum was greater than R$ 28,559.70 and, in relation to rural activity, obtained gross revenue in an amount greater than R$ 142,798.50;
• Persons with exempt, non-taxable or taxed exclusively at source income, the sum of which was greater than R$40,000;
• Individuals residing in Brazil who, in calendar year 2021, had, in any month, capital gain on the disposal of assets or rights, subject to the incidence of tax, or carried out operations on stock, commodity, futures and similar exchanges, or who had, on December 31, possession or ownership of goods or rights, including bare land, with a total value exceeding R$300,000