Declaration on transfer

Summary

This section outlines the information to be included in a declaration which must be completed by the qualifying individual when their SSIA is being transferred to a new qualifying savings manager. It mirrors the declaration required at the commencement of an SSIA (as set out in section 848F) and consists of certain information along with certain statements concerning tax residency, being the beneficial owner of the SSIA, not having commenced another, subscriptions to the account being from personal funds and not as a result of borrowing and finally not using the assets in the SSIA as security for a loan.

Details

On transferring an SSIA from one savings manager to another a qualifying 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 new savings manager.

Factual information

The details required on the declaration are —

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

Declaration

The individual is also obliged to state in the declaration that he/she —

• was tax resident in the State at the time that the SSIA was commenced;
• at the time of this declaration is the person who beneficially owns the qualifying assets held in the SSIA being transferred and that he/she has not commenced another SSIA;
• has been subscribing and will continue to subscribe to the SSIA from his/her own funds (or that of his/her spouse) and not directly or indirectly from borrowings;
• has not used and will not use the assets in the SSIA as security for a loan.

Relevant Date: Finance Act 2021