Section 264B Returns of special term accounts by relevant deposit takers
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Amendments
Section 264B inserted by Finance Act 2001 section 57(1)(a)(iv) from 1 January 2002 (appointed by the Minister for Finance under Finance Act 2001 (Section 57) (Commencement) Order 2001 (SI 596/2001)).
(1) In this section "appropriate inspector" means-
(a) the inspector who has last given notice in writing to the relevant deposit taker that he or she is the inspector to whom the relevant deposit taker is required to deliver the return referred to in subsection (2), or
(b) where there is no such inspector as is referred to in paragraph (a), the inspector of returns specified in section 950.
(2) On or before 31 March in each year of assessment, every relevant deposit taker shall prepare and deliver to the appropriate inspector a return, in such form as may be prescribed or authorised by the Revenue Commissioners specifying-
(a) the name and address of the holder or holders, as the case may be, of each special term account which was opened during the previous year of assessment,
(b) whether such account is a medium term account or a long term account, and
(c) the date of opening of such account.
(3) Sections 1052 and 1054 shall apply to a failure by a relevant deposit taker to deliver a return required by subsection (2) and to each and every such failure, as they apply to a failure to deliver a return referred to in section 1052.
Is there a penalty for failure to make a return in respect of special term accounts by a bank?
(3) Yes. The penalty for failure to file a return (section 1052), as increased, where appropriate in the case of a body of persons (section 1054) applies a person who fails to file a return under this section.
