Who is responsible to file
The person who sells or transfers the property has to file a Notice of Transfer within 1 month after the sale or transfer of the property. This person shall continue to be liable for payment of all taxes in respect of the property and perform the duty of the property owner, until the Notice of Transfer has been submitted to IRAS. Usually, the Notice of Transfer is filed by the lawyers on behalf of the sellers/transferors.
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If you fail to submit the Notice of Transfer or are late in submitting the Notice of Transfer
All vendors must file their Notice of Transfer on time when they transfer their immovable properties. Each year, a minority of the vendors fail to do so.
Those who fail to comply with their filing and payment obligations will be penalised.
IRAS may take the following recovery actions if you do not file the Notice of Transfer within 1 month after the sale or transfer of the property:
- Impose a penalty for not filing or not filing on time
- Summon you to attend Court
- Issue a Warrant of Arrest
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Offer of Composition for Failure to File Notice of Transfer - What should I do
- File the outstanding documents as indicated in IRAS' letter immediately to avoid being summoned to Court; and
- Pay the composition fee by the due date stated in the letter.
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Summons - What should I do
If we do not receive the Notice of Transfer and the composition fee by the due date, a summons will be issued to you to attend Court on a specified date.
In Court, you will have to take a plea after the charges are read. Upon conviction, you will be fined up to $5,000. You will still be required to file the Notice of Transfer, failing which, further prosecution actions may be taken.
If you wish to avoid attending Court, please do the following at least one week before the Court date:
- File the Notice of Transfer; and
- Pay the summons fee using the enclosed payment voucher
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Composition Fee/ Summons Fee - How to pay
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