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Taxes Consolidation Act, 1997 (Number 39 of 1997)


787N Qualifying overseas pension plans: relief for contributions.

(1) Where in any year of assessment, contributions are paid to any qualifying overseas pension plan—

(a) by a relevant migrant member of that plan, or

(b) by, or on behalf of, an employer in respect of an employee (within the meaning of Chapter 1) who is a relevant migrant member of that plan,

then, where the relevant migrant member has provided a certificate of contributions, relief for that year of assessment [2]>under the provisions of section 774(6), 774(7) and 778(1) of Chapter 1<[2][2]>under the provisions of subsections (6), (7) and (8) of section 774 and section 778(1) of Chapter 1<[2] (which relates to occupational pension schemes), or, as the case may be, section 787 of Chapter 2 (which relates to retirement annuities), or sections 787C, 787E, 787F or 787J of Chapter 2A (which relates to personal retirement savings accounts), shall, with any necessary modifications, apply to those contributions as if—

(i) the qualifying overseas pension plan was an exempt approved scheme under Chapter 1 or an annuity contract for the time being approved by the Revenue Commissioners under Chapter 2, or a PRSA product approved under Chapter 2A for the purposes of section 94(3) of the Pensions Act 1990, and

(ii) the relevant migrant member of the qualifying overseas pension plan was—

(I) an employee within the meaning of Chapter 1,

(II) an individual referred to in section 784(1) of Chapter 2, or

(III) an individual referred to in Chapter 2A.

(2) An individual who would be a relevant migrant member of a qualifying overseas pension plan but for the fact that he or she fails to meet the requirement in paragraph (c) of the definition of “relevant migrant member” in section 787M shall, notwithstanding that, be treated as a relevant migrant member if the Revenue Commissioners are of the opinion that in all the circumstances the failure of the individual to meet the condition ought to be disregarded for that purpose.

(3) (a) The Revenue Commissioners may by notice in writing require the administrator of a qualifying overseas pension plan who has received an irrevocable instruction as provided for in section 787M(2)(b), to provide within 30 days of the date of such notice such information and particulars, in relation to payments under the plan, as the Revenue Commissioners may reasonably require for the purposes of this Chapter.

(b) The notice referred to in paragraph (a) shall specify—

(i) the information and particulars required by the Revenue Commissioners, and

(ii) the form and manner in which such information and particulars are to be provided.




Inserted by FA05 s21(1)(d). Applies as respects contributions to a qualifying overseas pension plan made on or after 1 January 2005.


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Substituted by FA06 s14(1)(d).