896A Returns in relation to settlements and trustees

Summary

Section 896A provides for the delivery of information by a third party where that party is concerned with the making of a settlement where the settlor is resident in the State but the trustees are not resident in the State. In addition the section provides that an authorised officer of the Revenue Commissioners may by notice in writing request a party to a settlement to provide details of the settlement.

Details

(1) In this section –

“authorised officer” is defined in a manner that will ensure that only Revenue officials specifically authorised in writing to exercise the power to request information under this section will be able to do so.

“settlement” and “settlor” take their meanings from section 10.

(2) Provision is made for the delivery of information by a third party where that party is concerned with the making of a trust or settlement where the settlor is resident in the State but the trustees are not resident in the State. The information required refers to the names and addresses of the settlors and trustees and the date of making of the settlement.

(3) Details of all settlements made on or after 24th December 2008 must be delivered within 4 months of that date. Details of those settlements made within the 5 years prior to and including 23rd December 2008 must be delivered within 6 months following 24th December 2008.

(4) The trustees are regarded as not resident in the State unless the general administration of the settlement is ordinarily carried on in the State and the trustees or a majority of each class of trustees are resident in the State.

(5) An authorised officer may by notice in writing require any person to furnish information relating to a settlement.

Relevant Date: Finance Act 2021