EPF Withdrawal: Form 121 Replaces Form 15G and 15H for TDS From Tax Year 2026-27
Form 15G and Form 15H no longer stop TDS on your EPF withdrawal. From tax year 2026-27, the form you need is Form 121, a single declaration under the Income-tax Act, 2025 that replaces both. EPFO has said so on X, as Moneycontrol and The Economic Times reported on 9 October. If you filed a 15G with a PF claim after 1 April 2026, EPFO will ask you for the new form as well.
What changed, and from when
The Income-tax Act, 1961 was replaced by the Income-tax Act, 2025 on 1 April 2026. Under the new law, Forms 15G (for people below 60) and 15H (60 and above) have been merged into one. EPFO’s head office told all its regional offices this in a circular dated 13 April 2026 (No. WSU/TDS Issues/E-772040/2026-27).
The circular makes four points that matter to members:
- Form 121 is for residents whose expected final tax for the year is nil. You fill and sign Part A; EPFO fills Part B.
- Filing it is not mandatory. It is only for members who do not want tax deducted at source.
- Claims already filed with Form 15G/15H since 1 April 2026 will not be returned, but EPFO will collect the new declaration from the member.
- EPFO has asked its IT wing to build an online e-sign facility for the form. Until then, members upload a physically signed form.
Form 121 vs Form 15G/15H
| Point | Old (to tax year 2025-26) | New (from tax year 2026-27) |
|---|---|---|
| Form | 15G (below 60), 15H (60+) | One form for both |
| Law | Income-tax Act, 1961 | Income-tax Act, 2025 |
| Who can file | Residents with nil tax | Residents with nil expected tax for the year |
| Who fills what | Declarant fills, payer records | You fill Part A; payer fills Part B and gives it a UIN |
| NRIs | Not allowed | Not allowed (residents only) |
When TDS is cut on an EPF withdrawal
TDS comes into play only on some withdrawals. As The Economic Times explains it, tax is deducted when you withdraw before five years of continuous service and the amount is above ₹50,000, at 10%. Withdrawals after five years of continuous service are not taxed this way.
Example: you left a job after three years and withdraw ₹2,00,000. If TDS applies, 10% is ₹20,000. If your total income for the year, including this money, stays below the taxable limit, the new declaration lets you ask EPFO not to deduct it. If you will owe tax, do not file it: it is a declaration that your tax for the year is nil, and the tax is due anyway when you file your return.
If TDS is deducted when you didn’t owe tax, you can still get it back as a refund by filing a return. Our guide to checking your income tax refund status shows how to track it.
How to submit Form 121 with a PF claim
- Check first that you need it: is your service under five years, the amount above ₹50,000, and your total tax for the year nil?
- Make sure your PAN is seeded with your UAN; the declaration needs a valid PAN.
- Get the proforma (EPFO’s circular attaches the Income Tax Department’s version), fill Part A, sign it and scan it.
- Upload the form with your online claim on the member portal, where you used to upload 15G/15H.
- Keep a copy. EPFO will give each form a unique identification number (UIN) and report it in its TDS returns.
Before you withdraw at all, read our PF withdrawal rules. A partial advance may fit your need better than a full settlement.
It’s not only EPF
The new form replaces 15G/15H everywhere, not just at EPFO. If you gave your bank a 15G or 15H for FD interest in earlier years, check with the bank which form it needs for this tax year. Our post on FD premature withdrawal covers the other deposit rules.
Common mistakes
- Treating the form as a tax exemption. It only stops TDS. The withdrawal is still taxed if your income is taxable.
- Filing it as an NRI. Residents only.
- Uploading an old 15G. It will not stop deduction this year.
- Ignoring the five-year rule. Service with an earlier employer usually counts only if that PF was transferred to your current account; check your service history on the portal.
That covers the change. A few quick answers follow.
FAQs
Is Form 121 compulsory for every PF withdrawal?
No. EPFO’s circular says it is optional and only for those who do not want TDS deducted.
I submitted Form 15G in May. Will my claim be rejected?
EPFO told its offices not to return such claims but to collect the new form from the member.
Can a senior citizen still use Form 15H?
Not from tax year 2026-27. One form now covers both age groups.
Where do I get the form?
The Income Tax Department publishes it with a guidance note, and EPFO’s circular attaches the proforma. Your bank or EPFO office can also give you a copy.
Takeaway: if you are withdrawing EPF before five years of service and owe no tax this year, upload Form 121 with the claim, not 15G or 15H.
Checked
- EPFO head office circular No. WSU/TDS Issues/E-772040/2026-27, 13 Apr 2026, read via a public copy (Avantis legal-update library); not found on epfindia.gov.in today
- EPFO member services home page
- Income Tax Department e-filing portal
- Reported: Moneycontrol (9 Oct 2026) and The Economic Times on EPFO’s X post; the ₹50,000 / 10% / five-year TDS rule is as ET reports it
Partly verified, 12 Oct 2026, 6:00 AM IST. Read: EPFO head office circular of 13 Apr 2026 (through a public copy, not on epfindia.gov.in). Not read: the Income Tax Department’s Form 121 guidance note (incometaxindia.gov.in returned 403) and EPFO’s X post itself. The five-year / ₹50,000 / 10% TDS rule is as The Economic Times reports it.
