Return of Payments (Banks, Building Societies, Credit Unions and Savings Banks) Regulations 2008

The Return of Payments (Banks, Building Societies, Credit Unions and Savings Banks) Regulations 2008, as amended, provide for the automatic reporting by financial institutions of customers to whom they have made payments of interest and other profit type payments.

S.I. No. 56 of 2015 has reduced the annual reporting threshold from €635 to €300 and applies to returns that are due to be filed by 31 March 2015 in respect of the year 2014.

However, in recognition of the short notice given to financial institutions in relation to the returns due to be filed by 31 March 2015, Revenue will deem returns filed by 30 June 2015 as being filed on time.

20 February 2015