Declaration on commencement

Summary

This section contains details of the declaration which every individual must complete on opening an SSIA.

Details

Declaration

On commencing an SSIA an individual is obliged to complete and sign a declaration in a form authorised by the Revenue Commissioners. It must contain a reference to the offence of making a false declaration and be given to the savings manager. The details required on the declaration are—

• name;
• address of permanent residence;
• Personal Public Service Number (PPSN); and
• date of birth.

Furthermore, the individual is obliged to declare that he/she —

• is tax resident in the State;
• has not commenced another SSIA;
• is the person who will beneficially own the qualifying assets to be held in the SSIA;
• will subscribe to the SSIA from his/her own funds (or that of his/her spouse) and not directly or indirectly from borrowings;
• will not use the assets in the SSIA as security for a loan; and
• undertakes to advise the savings manager if the facts given in the declaration materially change.

Relevant Date: Finance Act 2021