Revenue Note for Guidance
This section provides that every company which makes relevant distributions, and every authorised withholding agent which is treated as making relevant distributions, must give each recipient of such a distribution a statement showing certain details in relation to the distribution. The statement can be provided either in writing or with regard to relevant distributions and declarations made on or after 3 April 2010 if the recipient or intermediary consents in an electronic format (“electronic communications”). Revenue eBrief No. 26/10 of 14 April 2010 provides further information with regard to this provision.
(1) Every Irish resident company which makes a relevant distribution, and every authorised withholding agent which is treated as making a relevant distribution, is required to give each recipient of such a distribution a statement in writing, or with regard to relevant distributions and declarations made on or after 3 April 2010 by means of electronic communications, showing the following details in relation to the distribution —
(1A) The requirement to furnish the statement under subsection (1) can be satisfied in the case of a statement that is delivered electronically to an intermediary or the recipient of a relevant distribution, provided that the following conditions are met:
(2) The requirement to furnish the statement under subsection (1) can also be satisfied by including the information required on the dividend counterfoil issued in accordance with section 152(1).
(3) A person who fails to comply with subsection (1) is liable to a penalty of €200 for each offence, subject to a maximum penalty of €2000 in respect of offences connected with any one distribution of dividends.
Relevant Date: Finance Act 2021