14 October 2015

The Inland Revenue Authority of Singapore (IRAS) has clarified a processing time of up to six months for the audits of selected PIC cash payout application forms.

For those application forms selected, IRAS will request for further details and supporting documents.

Upon receipt of the complete information, the review will be done by IRAS within three months. The processing time, however may take up to six months, depending on the complexity of each case.

IRAS may also select PIC applications for further review, even after disbursing the cash payout.

For further details, please refer to the IRAS website.

Source: IRAS