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IKZE Tax Relief

Investing in an Individual Retirement Security Account (IKZE) is one of the more profitable ways to save for the future. In addition to accumulating capital for retirement, it provides taxpayers with additional privileges in the form of tax relief. It is worth remembering this option when filing your PIT declaration.

Who is eligible for IKZE tax relief?

IKZE tax relief is available to taxpayers who make contributions to an Individual Retirement Security Account and settle their taxes:

  • under general rules (tax scale),
  • in the form of a flat tax (19%),
  • in the form of a lump sum tax on registered revenues.

The relief can be used by individuals filing individually, jointly with a spouse, or as a single parent raising a child.

The form of income earned does not matter – it can be income from an employment contract, mandate contract, contract for specific work, or business activity.

What is the IKZE contribution limit in 2024?

The PIT settlement stipulates that the maximum annual IKZE contribution limit also constitutes the upper deduction amount. In 2024, the limits are:

  • PLN 9,388.80 – for employed individuals,
  • PLN 14,083.20 – for entrepreneurs.

What documents are required to claim the relief?

To benefit from preferential PIT settlement conditions, the taxpayer must document their contributions. Bank transfer confirmations can be used for this purpose, containing:

  • taxpayer’s personal data,
  • data of the institution receiving the payment,
  • the amount of the contribution and the transfer title.

Where to enter deductions in PIT?

Depending on the form of taxation, the taxpayer should include the amount of IKZE contributions in the appropriate tax form:

  • PIT-37 (settlement mainly based on PIT-11) + PIT/O appendix,
  • PIT-36 (entrepreneurs settling according to the tax scale) + PIT/O appendix,
  • PIT-28 (entrepreneurs settling with a lump sum) + PIT/O appendix,
  • PIT-36L (entrepreneurs settling with a flat tax) – only declare IKZE income in the declaration.

IKZE Savings Exempt from Belka Tax

IKZE holders not only enjoy tax relief in PIT but also an exemption of savings from the 19% capital gains tax (the so-called Belka tax). The conditions to be met are:

  • withdrawal of funds after reaching 65 years of age,
  • IKZE contributions for at least 5 years.

In this case, you will only pay a 10% flat-rate income tax. If you decide to withdraw earlier, the withdrawn amount will have to be included in your annual PIT and you will pay standard income tax.

Does IKZE tax relief conflict with other deductions?

No! You can use IKZE tax relief concurrently with other popular PIT deductions, such as:

  • internet tax relief,
  • rehabilitation tax relief,
  • child tax relief.
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