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Companies will need to transfer insurance contributions according to the new rules by February 15.

The new legislation on insurance contributions contains stricter rules regarding mistakes in payment orders. Before, if a company accidently used the wrong budgetary classification code when paying the Unified Social Tax (UST) there were no sanctions. Companies just needed to correct the mistake. This year, however, any insurance contributions that are not transferred because of the wrong code will be considered unpaid and the debt will accrue interest until the company fixes the mistake. Fines will be incurred as well.

The Pension Fund of the Tyumen Region emphasized that insurance contributions regarding the Obligatory Health Insurance Fund is administered by the Pension Fund. However, it is necessary to execute separate payment orders to the Pension Fund, to the Federal Obligatory Health Insurance Fund and to the Regional Health Insurance Fund. For this reason the Pension Fund of the Orenburg Region warns that there can only be one code per payment document, since each payment is a different type and made on a different basis.

In addition, new codes were approved at the end of last year. They are listed on the Pension Fund’s official site under the category “For Employers.”

Regarding mistakes in the name of a receiving bank or in the bank account number of the Federal Treasury, the rules are the same. They are recognized as unpaid insurance contributions.

All other mistakes in payments to the Regional Branches of the Pension Fund are recognized as minor. There will not even be penalties or fines if the contribution gets lost. The main thing is that the company rectifies the error after they have been informed of it.

The Pension Fund developed detailed instructions and provided examples of how to make insurance payment transfers to the Pension Fund, the Federal Obligatory Health Insurance Fund and the Regional Obligatory Health Insurance Fund in Letter № 30/187 from 08.12.09. In some cases these instructions contradict the Ministry of Finance’s Decree #106n from 24.12.04. However, tax consultants say it is safe to follow the Pension Fund’s instructions.

Why contributions should not be overpaid

The method for off-setting and reimbursing overpaid contributions differs from UST. First, it is not possible to offset an overpayment made to one fund to another fund. Second, the overpayment will not be returned if the data regarding the contributions to the Pension Fund have already been disbursed into the individual accounts of the insured individuals. They can only be offset in future payments.

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