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Paying the Italian substitute tax on TFR revaluation with the F24

On the annual revaluation of the TFR fund (the Italian severance pay fund), the employer or pension body owes a substitute tax in place of income tax, paid with the F24 form in two steps: an advance by 16 December each year (tax code 1712) and the balance by 16 February of the following year (tax code 1713). The advance is computed on 90% of the revaluations, using the historical or the forecast method; the balance is net of the advance paid.

Up to date for 2026 — verified on September 24, 2026Official procedure, no printed formGuide: about 20 min

This content is part of the path: Hiring your first employee· Step 11 of 11· Last step of the path

Deadlines

16 December each year
Advance, tax code 1712
16 February of the following year
Balance, tax code 1713, net of the advance; deadlines are unchanged even if employment ends during the year

Documents to prepare

  • The TFR fund accrued at 31 December of the previous year, employee by employee
  • The list of TFR portions paid into supplementary pension schemes
  • The revaluations accrued in the previous year, for the historical method
  • Access to the Agenzia's online services or to online banking
See the procedure on the official site

No form is attached to this procedure: the link leads to the official page that describes it.

What this page gives you

The guide above and the link to the official site. ActioFin does not produce any document for this page: whatever you fill in or file is done on the official medium.

Who this applies to

  • Employers and pension bodies that keep the TFR in-house: the tax is theirs to bear
  • It is not due on TFR portions paid in full into supplementary pension schemes, which are not kept by the employer and are not revalued
  • It is not due for an employee who has joined a supplementary pension scheme with the whole of their TFR
  • In a merger or demerger that extinguishes the original entities, they pay until the effective date, and the absorbing, beneficiary or resulting company pays afterwards

Worked example

Officina Moretti snc keeps its TFR in-house

Officina Moretti keeps its employees' TFR in the business. The substitute tax on the revaluations accrued in 2025 came to 1,200 euros, computed with the trattamento-fine-rapporto calculator. Under the historical method the 2026 advance is computed on 90% of those revaluations, that is 90% of 1,200 euros: 1,080 euros, paid with an F24 by 16 December 2026 under tax code 1712. At the end of 2026 the tax on that year's revaluations turns out to be 1,350 euros: the balance is 1,350 − 1,080 = 270 euros, paid by 16 February 2027 under tax code 1713.

How to fill it in, step by step

  1. Identify the TFR fund accrued at 31 December of the previous year, excluding the TFR accrued during the year, and leave out portions paid in full into supplementary pension schemes.
  2. Choose the advance method: historical (90% of the revaluations accrued in the previous calendar year, including TFR paid out during that year) or forecast (90% of the revaluations accruing in the current year).
  3. Compute the tax on that base and pay the advance with an F24 by 16 December under tax code 1712.
  4. At year end, compute the tax on the revaluations actually determined in the year and subtract the advance already paid.
  5. Pay the balance with an F24 by 16 February of the following year under tax code 1713, offsetting any tax or contribution credits if you wish.

Good to know

  • The TFR revaluation rate adds a fixed part and a variable part tied to the rise in the ISTAT consumer price index for blue- and white-collar households compared with December of the previous year; the revaluation is computed at year end or when employment ends.
  • The substitute tax rate and the two parts of the revaluation rate are not repeated here: the trattamento-fine-rapporto calculator carries them with their sources.
  • Under the forecast method the base is the TFR accrued up to 31 December of the previous year for employees still on the payroll at 30 November of the current year.
  • If every employee has left before 16 December, the advance may be computed on the revaluation accrued in the same year rather than the previous one.
  • The credit arising from the advance levy on severance payments (article 3 of law no. 662/1996) may also be used, up to the tax due; the amount offset this way does not count towards the annual offsetting limit.

Common mistakes

  • Swapping the tax codes: 1712 is the December advance, 1713 the February balance.
  • Computing the advance on 100% of the revaluations instead of 90%.
  • Including the TFR accrued in the current year in the base: what is revalued is the fund at 31 December, excluding TFR accrued in the year.
  • Paying the tax on portions paid in full into supplementary pension schemes, which are not subject to it.
  • Forgetting to subtract the advance from the balance.

Frequently asked questions

Who pays the substitute tax on TFR?

The employer or the pension body: it is borne by them, on the revaluations of the TFR fund they hold.

When are the advance and the balance paid?

The advance by 16 December each year, the balance by 16 February of the following year, with the F24 form.

Which tax codes are used?

1712 for the advance and 1713 for the balance.

How is the advance computed?

On 90% of the revaluations: those accrued in the previous calendar year under the historical method, those accruing in the current year under the forecast method.

Do the deadlines change if an employee leaves during the year?

No: if employment ends during the year the payment deadlines stay the same. The revaluation is then based on the ISTAT index for the month employment ended.

Go further

Compute the related amounts

Understand this form: the related course

Related forms

Official sources

Read in Italian

Guide and document provided for information purposes only; they do not constitute personalised legal or tax advice. Check the recipient organisation's requirements and consult a professional if needed.