Sociaal fonds
Given its success, the option to withdraw your social fund early has been extended
January 22, 2021

Last year, we made it possible for you to withdraw your available reserve in the Sabam social fund early. Almost 9,000 authors and composers were given access to more than 18 million euros. An initiative that was welcomed with open arms: almost 1,300 members took up the offer. We paid out 3.8 million euros in advance. This is how we help you to overcome this enduring crisis.

By now, light is slowly starting to emerge at the end of the tunnel. But the crisis is not over yet. That is why we decided to extend this support measure for you until the end of 2021.  

Would you like to draw on your available reserve in the social fund (again)? See below for a summary of all the information and conditions.

If you have any questions, contact us via membersf@sabam.be.

Are you requesting an early withdrawal for the first time? 

If you do not have an account yet, request one now via affiliation@sabam.be.

  • Go to the Played & Paid application to see your reserve amount in the social fund.
  • Click on ‘Early withdrawal’.
  • Enter the desired gross amount, add a motivation for your request, and select your account number.
  • Click on ‘Submit request’.

Have you applied before and would you like to draw on your available reserve in the social fund again?

Please note: your previous request and your new request may, together, not be more than 5,000 euros + 50% of the reserve exceeding 5,000 euros. 

  • Add a motivation for your request and send us your e-mail.

Payment will take place no more than three weeks after receipt of your e-mail.

What are the conditions for early withdrawal?

  • Early withdrawal is only possible if you have already built up an individual reserve and are therefore subject to the new rules.
  • Authors with a reserve between 100 and 5,000 euros can request full or partial payment of their reserve. 
  • Authors with a reserve of 5,000 euros or more can request payment of 5,000 euros + 50% of the amount exceeding 5,000 euros (up to a maximum of 45,000 euros).

Does early withdrawal have any tax consequences?

If you are a natural person or non-profit organisation, the general rule still applies. This means you may end up in a different income bracket as a result of the early withdrawal.

We are obliged to withhold 15% withholding tax from your royalties, up to an amount of 62,090 euros. Withholding tax increases to 30% for any royalties exceeding this amount. On your tax return, you may deduct the actual or fixed costs from the withholding tax, depending on which is the most advantageous for you. We will send you an overview of your royalties and withholding tax in April next year, for the income year 2021 (assessment year 2022), which will help you make this choice.

Please be careful if you are also due to receive copyright or neighbouring rights royalties from another management company. You must add these to the royalties you received from Sabam. It concerns the total amount of copyright and neighbouring rights royalties received.

If you are resident abroad and liable to pay taxes in your country of residence, this rule does not apply.

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Do you have any questions?

Our Customer Service will gladly assist you as soon as possible.

 

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