Employer contributions to PRSAs – Income Tax, PRSI and USC
The purpose of this eBrief is to clarify for employers and payroll practitioners how employer contributions to an employee’s Personal Retirement Savings Account (PRSA) are to be treated for Income Tax, PRSI and USC purposes. Benefit-in-kind (BIK) An employer contribution to an employee’s PRSA is treated as a taxable BIK for the employee. However, for…