263D Declarations to the Revenue Commissioners in relation to relevant amounts

Summary

This section provides for a form of declaration in respect of deposits of relevant amounts. The beneficial owner of relevant amounts is required to make a declaration to that effect to the Revenue Commissioners. The financial institution will, on receipt of a notification under section 263E from Revenue, pay interest on such deposits without deduction of DIRT.

Details

Declarations

Before the Revenue Commissioners can consider whether to notify the financial institution, in accordance with section 263D, that a deposit under subsection (1C) of section 256 is not to be treated as a “relevant deposit” i.e. interest paid DIRT free, they must receive the required declaration.

The required declaration must be made in writing to the Revenue Commissioners and must —

(a) be made and signed by the person (in this section referred to as the “declarer”) to whom any interest on the deposit in respect of which the declaration is made is payable by the relevant deposit taker,

(b) be made in such form as may be prescribed, authorised or approved by the Revenue Commissioners,

(c) declare that at the time the declaration is made the deposit is solely in respect of a relevant amount,

(d) contain in respect of the declarer

(d)(i) the name and address of the person,

(d)(ii) the person’s PPS Number (within the meaning of section 891B)

(d)(iii) the name and address of the deposit taker (including the name and address of the branch of the deposit taker, if any) who holds the deposit in respect of which the declaration is made, and

(d)(iv) the account number or membership number, as the case may be, of the deposit in respect of which the declaration is made,

and

(e) contain such other information as the Revenue Commissioners may reasonably require for the purposes of this Chapter

Relevant Date: Finance Act 2021