Revenue Note for Guidance
This section provides that at the time the assets of a PRSA may be made available to a beneficiary in accordance with section 787K (see below) the beneficiary may opt to have the assets transferred to an approved retirement fund. In that event the option will be treated as an option under section 784(2A) and sections 784A and 784B will apply accordingly. The assets that may be transferred to an ARF are the PRSA assets less any tax free lump sum payable.
Relevant Date: Finance Act 2021