Responsibility to file
When any property is sold or transferred, the seller or transferor shall, within 1 month after the sale or transfer, give notice of the sale or transfer to IRAS by filing a Notice of Transfer. The Notice of Transfer is generally filed by lawyers on behalf of the seller/transferor of the property.
Property tax liabilities
The seller/transferor shall continue to be liable for payment of all taxes on the property and perform the duty of the property owner, until the Notice of Transfer has been submitted to IRAS.
Consequences for late or non-filing of Notice of Transfer
Failure to file your Notice of Transfer within 1 month after the sale or transfer of the property is an offence.
IRAS may take the following enforcement actions if you fail to file the Notice of Transfer within 1 month after the sale or transfer of the property:
- Offer to compound the offence
- Summon you to Court
Offer of composition
Instead of taking prosecution actions, IRAS may allow you to avoid prosecution by paying a composition amount.
A composition amount not exceeding $5,000 for each offence may be offered depending on your past compliance records. A notice will be sent to inform you of the composition amount. You must pay the composition amount and file the Notice of Transfer (if not filed yet) by the due date to avoid prosecution.
If you receive an offer of composition, you should take the following actions immediately:
- File the Notice of Transfer immediately; and
- Pay the composition amount before the due date stated in the notice to avoid being summoned to Court.
Paying the composition amount
Quote the payment slip number when paying the composition amount using the preferred payment modes. GIRO payment is not allowed.
The payment will be processed after 3 working days.
A summons may be issued to you to attend Court on a specified date if IRAS does not receive:
- The Notice of Transfer
- Payment of the composition amount by the due date
If you do not wish to attend Court, you must do all of the following actions at least 1 week before the Court date:
- File the Notice of Transfer
- Pay the composition amount
Postponement of Court hearing
If you need more time to file and/or pay the composition amount, you must attend Court on the Court date to appeal for a postponement.
In Court, if convicted of the offence, you may face a fine not exceeding $5,000 for each offence.