Pension plan promoters must file Form 345

The management of pension plans entails specific reporting responsibilities before the Tax Administration. Recently, the Directorate General of Taxes (DGT) has clarified the scope of the reporting obligations for entities acting as promoters of these financial products.

What the DGT has ruled

The inquiry addresses whether pension plan promoter entities are required to file the informative declaration corresponding to Form 345 when they make contributions. The DGT's criteria establish that promoters making contributions must submit an annual declaration to the Administration.

This reporting obligation requires the declaration to include, on an individual basis, the participants for whom the contributions were made, specifying the amount contributed for each of them. Compliance with this duty is carried out through the submission of Form 345, in accordance with current regulations.

What this means for you

If your entity acts as a pension plan promoter and makes contributions, filing Form 345 is not optional, but a strict tax duty. The relevance of this compliance lies in the level of detail required by the Administration: a global declaration is not sufficient; instead, the individual identification of each participant and the breakdown of the amounts contributed are required.

Failure to comply with this reporting obligation could lead to the consequences provided for in the General Tax Law, given that the information provided is essential for the control of contributions to pension plans.

What should be done

Entities must verify that their data reporting processes allow for the individual identification of participants to comply with the rigor required by Form 345. It is necessary to ensure that the information contained in the annual declaration matches the actual contributions made during the fiscal year. Since the regulations are based on the General Regulation of Taxpayer Activities and specific orders, the correct management of this data is fundamental to avoid contingencies with the Administration.