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Generating BIR Form 1701-Q in Fast File
Generating BIR Form 1701-Q in Fast File

In this guide, you will learn all about filing BIR Form 1701-Q. Such as who, when, and how to file this form using Fast File.

Maui Banag avatar
Written by Maui Banag
Updated over a week ago

What is this form?

BIR Form 1701-Q, also known as the Quarterly Income Tax Return for Self-Employed Individuals, Estates, and Trusts (including those with both business and compensation income), is a tax return intended for professionals and self-employed individuals who are engaged in a sole proprietorship business.

Who should file this form?

  • A resident citizen engaged in trade, business, or practice of profession within (or not within) the Philippines.

  • A resident alien, non-resident citizen, or non-resident alien individual engaged in business within the Philippines.

  • A trustee, guardian of a minor, administrator of an estate, or any individual(s) with fiduciary capacity for any person, where such trust, estate, minor, or person is engaged in trade or business.

When to file?

The following deadlines apply for those individuals who want to file this return:

  • 1st qtr: On or before May 15 of the current taxable year

  • 2nd qtr: On or before August 15 of the current taxable year

  • 3rd qtr: On or before November 15 of the current taxable year

How to File?

To file a BIR Form 1701-Q in Fast File, follow the steps below:

STEP 1: From your portal, click on the Start Return button.

STEP 2: Select Income Tax Return and hit Next.

STEP 3: Choose 1701Q, then click the Next button.

STEP 4: Select the date of the transaction covered in this report. Choose from the Year and Quarter drop-down buttons, then click Next.

STEP 5: In the second section of the form, enter all background information properly based on your BIR Certificate of Registration (COR/Form 2303).

Certain parts of the form are already pre-populated based on the information that you have provided during the organization setup.

STEP 6: If you are single, you can simply skip the Background Information (Spouse) section. If you are married, fill out this part with your spouse's details.

STEP 7: Input your Tax Details on:

  • Schedule 1 - if you're using the Graduated IT Rate

  • Schedule 2 - if you're using an 8% IT Rate

  • Schedule 3 - for Tax Credits/Payments

  • Schedule 4 - for Penalties

Note: To produce a Summary Alphalist of Withholding Tax (SAWT) attachment for this report, go to Schedule 3 then click the SAWT link next to Item 58 and start adding the source data.

Please be reminded that once the sources are entered in SAWT, the item 58 input field will be disabled for manual entry. If you decide to do a manual entry instead, simply click the reset button found in the SAWT modal.

STEP 8: Once the SAWT link (beside item 58) was clicked, a modal will appear with 2 tabs where the attachments of the Tax Payer and his/her Spouse (if applicable) can be entered.

1. Tax Payer

2. Spouse - this tab will only appear if a spouse has been declared in the Background Information section.

Here are other Schedule modal functionalities that are worth checking:

A. Import Errors - this button lets you export the errors in your CSV file, allowing you to format the data in your CSV correctly before re-importing it back to Fast File

B. Import Status - status of your import and errors in your import file will appear here

C. Add Line - this button allows users to manually add the required information such as:

  • Date

  • Registered Name (If non-individual)

  • First Name

  • Last Name (if an individual)

  • Net Amount

  • ATC

  • Tax Amount

D. Import SAWT Data - click this button to start importing your SAWT file

E. Remove Selected - this button will allow you to select and delete a whole line of

data from your Schedule.

F. Reset - this allows you to remove all the data inside the modal and start afresh.

STEP 9: The Summary of Tax Due section is also pre-populated with the exact information included in your actual quarterly income tax form. That is why you need to go through all of the sections to make sure you that are filing an accurate return.

That's it! You can now proceed to the payment stage by clicking the Filing Options button located on the top-right part of the page.

Please take note that your tax forms will be sent electronically to the BIR until 9 pm. Any forms that will be sent beyond that filing deadline will be transmitted within the next business day.

BIR Form 1701-Q is straight-out simple to fill out and complete. Get started on your tax-compliance journey today and start filing at πŸ€—

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