How to deduct your payments from your income declared for tax purposes?

Have you paid money into a new version (the PER) or old version (Perp or Madelin) retirement savings plan in 2022? Deposits into these plans allow you to take advantage of a tax deduction, and therefore lower your income tax.

This is THE tax carrot of retirement savings plans, old and new generation: when you voluntarily contribute money to your plan, this payment can be deducted from your taxable income. If you have voluntarily placed money on an individual PER, a now old Perp or even a Madelin contract before the end of December, you must indicate the amount in your 2023 declaration in order to deduct it from your 2022 income subject to tax. In theory, you received a single tax form from the administrator of your plan to tell you the sums to fill.

If you have opened a new PER

The new retirement savings plan has been available for subscription since October 2019. At the end of March 2023, France Assureurs announced more than 4 million holders of new plans. Regardless of the type of PER, individual or company, the payments you make voluntarily (excluding profit-sharing or profit-sharing bonuses or other mandatory employer payments) can be deducted. With one exception: if you have knowingly waived this tax advantage at the time of payment. In this case, you did not enter these payments on your declaration.

Retirement savings plan: an important choice to make when validating your payment

Conversely, if you wish to deduct your payments when declaring your income, go to the section deductible expenses, paragraph retirement savings: contributions paid into new retirement savings plans. Fill in the box 6NS (Or 6NT for the co-declarant) the amount voluntarily paid in 2022 on these new PERs.

Boxes 6OS And 6OT are they dedicated to voluntary payments made by freelancers.

If you have an old Perp or Madelin

As in previous years, contributions made to a Perp (or similar products such as Prfon, Corem, etc.) are declared on the line 6RS6RT depending on the identity of the member of the household who made the payment. For Madelin contracts, reserved for non-salaried workers, the 2022 payments are entered on the line 6QS6QT.

How much can you deduct each year?

Calculated on the basis of your earned income, the possible deduction for each household appears each year on your tax notice. The notice received last fall therefore specified your deduction limit, at least if the tax authorities identify you as a potential retirement saver.

This deduction ceiling, common to all retirement savings schemes, also appears on your statement, under the same retirement savings heading, line 6PS only used to correct this ceiling if you notice a calculation error. On impots.gouv.fr, you can click on the button To consult or modify the overall limit opposite the 6PS line to find out your ceiling and the history of the last few years.

Couples subject to joint taxation can choose to add their respective ceilings by ticking the box 6QR: useful in the event of a significant difference in income, professional situations or different savings capacity.

The special case of transfer

Since the launch of the PER, you can transfer part of your savings in life insurance to a PER, with the key to a tax advantage accessible each year, until 2022. If you have activated this transfer, you do not have to declare the amounts concerned with deductible payments, but under the income from movable capital section of the supplementary income statement (form 2042-C). Fill in the boxes 2RA, 2RB, 2RC Or 2RD according to seniority and the tax option chosen for the life insurance policy.

PER: up to 1 year to transfer all your retirement savings!

source site-96