Year End

Added two new sections specific to Puerto Rico tax reporting in the Quarterly/Annual Reporting Parameters section in the Payroll > Tax Definitions screen in People. Below the General section, the following sections show for Puerto Rico:

• The Details section reflects PR-specific information.
• The new W2 section shows the employee's W2 properties for Puerto Rico.
• The new 480.7C section includes fields associated with Form 480.7C for reporting quarter-end and year-end tax information for Puerto Rico.
  The new fields for this section of the Quarterly/Annual Reporting Parameters section include:
  • Starting Date Employee Begins to Receive PR Pension
  • Name of Plan
  • Plan Sponsor's Name
  • Resident Status
  • Plan or Annuity Type
    

Dayforce uses the information from the new 480.7C section to map the tax information to the 2024 Form 480.7C (Box 23) for Puerto Rico.

Note: Form 480.7C for Puerto Rico Retirement is the equivalent to Form 1099-R for the United States.