REVENUE MEMORANDUM ORDER NO. 11-2020 issued on April 20, 2020 amends certain
provisions of RMO No. 28-2017 relative to the guidelines and procedures in the implementation
of Republic Act (RA) No. 9505 (Personal Equity and Retirement Account [PERA] Act of 2008).
The Order amends BIR Form No. 2339 (Certificate of Entitlement [COE] to 5% Tax Credit
for Employee-Contributor) into two separate forms, namely: i) for Employee without Qualified
Employer’s Contribution; and ii) for Employee with Qualified Employer’s Contribution.
The COE will be released to the PERA Administrators which, in turn, will transmit said
certificate to the following:
a. Employee – without qualified employer’s contribution; and
b. Employer – for employees with qualified employer’s contribution, for purposes of
automatically adjusting the withholding tax on employees’ compensation income.