REVENUE REGULATIONS NO. 23-2018 issued on November 21, 2018 amends certain provisions of Revenue Regulations (RR) No. 17-2011, as amended, implementing Republic Act No. 9505 (Personal Equity and Retirement Account [PERA] Act of 2008). Section 4(5) of RR No. 17-2011, as amended, is hereby further amended to read as follows: “SECTION 4. Establishment of a PERA. – A Contributor must comply with the following requirements in establishing a PERA: xxx xxx xxx (5) Submission of proof of source of funds for the year or to be earned for the year when the PERA contribution was made.” Section 10 (B) of RR No. 17-2011, as amended, is hereby renumbered and further amended to read as follows: “SECTION 10. PERA Distributions and Early Withdrawals. – xxx xxx xxx B. Early Withdrawal The following shall not be subject to the Early Withdrawal Penalty: (1) Transfer of PERA assets to another Qualified/Eligible PERA Investment Product and/or another Administrator within fifteen (15) calendar days from the withdrawal thereof; (2) For payment of accident or illness-related hospitalization in excess of thirty (30) days, in which case a duly notarized doctor’s certificate attesting to the said event shall be attached to the Notice of Termination/Withdrawal/Transfer to be submitted to the PERA Processing Office; (3) For payment to a Contributor who has been subsequently rendered permanently totally disabled as defined under the Employees Compensation Law or Social Security Law, in which case a certification duly issued by a pertinent government agency that the Contributor had been permanently totally disabled shall be attached to the Notice of Termination/Withdrawal/Transfer to be submitted to the PERA Processing Office; (4) Deduction of fees of the administrator, custodian and product provider (subsequent to account opening) from PERA assets, provided that such deduction is made with the consent of the Contributor.”