Schedule 2B Investment undertakings: declarations
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Amendments
Schedule 2B inserted by Finance Act 2000 section 58(1)(b).
Interpretation
1 In this Schedule-
"appropriate person", in relation to a pension scheme, means-
(a) in the case of an exempt approved scheme (within the meaning of section 774), the administrator (within the meaning of section 770) of the scheme,
(b) in the case of a retirement annuity contract to which section 784 or 785 applies, the person lawfully carrying on in the State the business of granting annuities on human life with whom the contract is made, and
(c) in the case of a trust scheme to which section 784 or 785 applies, the trustees of the trust scheme;
"tax reference number", in relation to a person, has the meaning assigned to it by section 885 in relation to a specified person within the meaning of that section.
Declarations of pension schemes
2 The declaration referred to in section 739D(6)(a) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time when the declaration is made, the person entitled to the units is a pension scheme,
(e) contains the name and tax reference number of the pension scheme,
(f) contains a certificate by the appropriate person in relation to the pension scheme that, to the best of that person's knowledge and belief, the declaration made in accordance with subparagraph (d) and the information furnished in accordance with subparagraph (e) are true and correct, and
(g) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a pension scheme make so that an investment undertaking shall not deduct retention tax from a gain payable?
(2) An investment undertaking must not deduct retention tax from a gain payable to a pension scheme which has made the appropriate declaration (section 739D(6)(a)). The declaration must:...
Declaration of company carrying on life business
3 The declaration referred to in section 739D(6)(b) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time when the declaration is made, the person entitled to the units is a company carrying on life business within the meaning of section 706,
(e) contains the name and tax reference number of the company, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a life company make so that an investment undertaking will not deduct retention tax from a gain payable?
(3) An investment undertaking must not deduct retention tax from a gain payable to a life company which has made the appropriate declaration (section 739D(6)(b)). The declaration must:...
Declarations of investment undertakings
4 The declaration referred to in section 739D(6)(c) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time the declaration is made, the person entitled to the units is an investment undertaking,
(e) contains the name and tax reference number of the investment undertaking, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must an investment undertaking make so that an investment undertaking will not deduct retention tax from a gain payable?
(4) An investment undertaking must not deduct retention tax from a gain payable to another investment undertaking which has made the appropriate declaration (section 739D(6)(c)). The declaration must:...
Declarations of special investment scheme
5 The declaration referred to in section 739D(6)(d) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time the declaration is made, the person entitled to the units is a special investment scheme,
(e) contains the name and tax reference number of the special investment scheme, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a special investment scheme make so that an investment undertaking will not deduct retention tax from a gain payable?
(5) An investment undertaking must not deduct retention tax from a gain payable to a special investment scheme which has made the appropriate declaration (section 739D(6)(d)). The declaration must:...
Declarations of unit trust
6 The declaration referred to in section 739D(6)(e) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time the declaration is made, the person entitled to the units is a unit trust to which section 731(5)(a) applies,
(e) contains the name and tax reference number of the unit trust, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a unit trust make so that an investment undertaking will not deduct retention tax from a gain payable?
(6) An investment undertaking must not deduct retention tax from a gain payable to a unit trust which has made the appropriate declaration (section 739D(6)(e)). The declaration must:...
Declaration of charity
7 The declaration referred to in section 739D(6)(f) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the undertaking is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time when the declaration is made, the person entitled to the units is a person referred to in section 739D(6)(f)(i),
(e) contains the name and address of that person,
(f) contains a statement that at the time when the declaration is made the units in respect of which the declaration is made are held for charitable purposes only and-
(i) form part of the assets of a body of persons or trust treated by the Revenue Commissioners as a body or trust established for charitable purposes only, or
(ii) are, according to the rules or regulations established by statute, charter, decree, deed of trust or will, held for charitable purposes only and are so treated by the Revenue Commissioners,
(g) contains an undertaking by the declarer that if the person mentioned in subparagraph (d) ceases to be a person referred to in section 739D(6)(f)(i), the declarer will notify the investment undertaking accordingly, and
(h) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a charity make so that an investment undertaking will not deduct retention tax from a gain payable?
(7) An investment undertaking must not deduct retention tax from a gain payable to a charity which has made the appropriate declaration (section 739D(6)(f)). The declaration must:...
Declaration of qualifying management company and specified company
8 The declaration referred to in section 739D(6)(g) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") who is entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time the declaration is made, the person entitled to the units is a qualifying management company or, as the case may be, a specified company,
(e) contains the name and tax reference number of the declarer, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a qualifying management company or specified company make so that an investment undertaking will not deduct retention tax from a gain payable?
(8) An investment undertaking must not deduct retention tax from a gain payable to a qualifying management company or a specified company which has made the appropriate declaration (section 739D(6)(g)). The declaration must:...
Declaration of qualifying fund manager or qualifying savings manager
9 The declaration referred to in section 739D(6)(h) is a declaration in writing to the investment undertaking which-
(a) is made by a qualifying fund manager or, as the case may be, a qualifying savings manager (in this paragraph referred to as the "declarer") in respect of the units which are assets in an approved retirement fund, an approved minimum retirement fund, or a special savings incentive account,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time the declaration is made, the units in respect of which the declaration is made-
(i) are assets of an approved retirement fund, an approved minimum retirement fund or, as the case may be, a special savings incentive account, and
(ii) are managed by the declarer for the individual who is beneficially entitled to the units,
(e) contains the name, address and tax reference number of the individual referred to in paragraph (d),
(f) contains an undertaking by the declarer that if the units cease to be assets of the approved retirement fund, the approved minimum retirement fund or held in the special savings incentive account, including a case where the units are transferred to another such fund or account, the declarer will notify the investment undertaking accordingly, and
(g) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
Amendments
Para 9 substituted by Finance Act 2001 section 75 from 6 April 2001.
What appropriate declaration must a qualifying manager of an approved ARF or an AMRF make so that an investment undertaking will not deduct retention tax from a gain payable?
(9) An investment undertaking must not deduct retention tax from a gain payable to a qualifying fund manager of an approved retirement fund (ARF) or an approved minimum retirement fund (AMRF), or to a qualifying savings manager, which has made the ap...
Declaration of PRSA Administrator
9A The declaration referred to in section 739D(6)(i) is a declaration in writing to the investment undertaking which-
(a) is made by a PRSA administrator (in this paragraph referred to as the "declarer") in respect of units which are assets in a PRSA,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that, at the time when the declaration is made, the units in respect of which the declaration is made-
(i) are assets of a PRSA, and
(ii) are managed by the declarer for the individual
who is beneficially entitled to the units,
(e) contains the name, address and tax reference number of the individual referred to in subparagraph (d),
(f) contains an undertaking by the declarer that if the units cease to be assets of the PRSA, including a case where the units are transferred to another PRSA, the declarer will notify the investment undertaking accordingly, and
(g) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
Amendments
Para 9A inserted by Pension (Amendment) Act 2002 section 4(1)(f).
What appropriate declaration must a PRSA administrator make so that an investment undertaking shall not deduct retention tax from a gain payable?
(9A) An investment undertaking must not deduct retention tax from a gain payable to PRSA administrator who has made the appropriate declaration (section 739D(6)(i)). The declaration must:...
Declaration of Credit Union
9B The declaration referred to in section 739D(6)(j) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) contains the name and address of the declarer,
(e) declares that, at the time when the declaration ismade the person entitled to the units is a credit union,
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
Amendments
Para 9B inserted by Finance Act 2003 section 56(a) from 1 January 2003.
What appropriate declaration must a credit union make so that an investment undertaking will not deduct retention tax from a gain payable?
(9B) An investment undertaking must not deduct retention tax from a gain payable to credit union that has made the appropriate declaration (section 739D(6)(j). The declaration must:...
Declarations of non-resident on acquisition of units
10 The declaration referred to in section 739D(7)(a)(i) is a declaration in writing to the investment undertaking which-
(a) is made by a person (in this paragraph referred to as the "declarer") who is entitled to the units in respect of which the declaration is made,
(b) is made on or about the time when the units are applied for or acquired by the declarer,
(c) is signed by the declarer,
(d) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(e) declares that, at the time the declaration is made, the declarer is not resident in the State,
(f) contains the name and address of the declarer,
(g) contains an undertaking by the declarer that if the declarer becomes resident in the State, the declarer will notify the investment undertaking accordingly, and
(h) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a non-resident unit holder make so that an investment undertaking will not deduct retention tax from a gain payable?
(10) An investment undertaking must not deduct retention tax from a gain payable to a unit holder which has made the appropriate non-residency declaration on acquiring the units (section 739D(7)(a)(i)). The declaration must:...
Declaration of non-corporate person
11 The declaration referred to in section 739D(7)(a)(ii) is a declaration in writing to the investment undertaking which-
(a) is made by the person (in this paragraph referred to as the "declarer") who is entitled to the units in respect of which the declaration is made,
(b) is signed by the declarer,
(c) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(d) declares that the declarer, at the time the declaration is made, is neither resident nor ordinarily resident in the State,
(e) contains the name and address of the declarer,
(f) contains an undertaking by the declarer that if the declarer becomes resident in the State, the declarer will notify the investment undertaking accordingly, and
(g) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
What appropriate declaration must a unit holder neither resident or ordinarily resident make so that an investment undertaking will not deduct retention tax from a gain payable?
(11) An investment undertaking must not deduct retention tax from a gain payable to a unit holder who has made the appropriate non-residency declaration (section 739D(7)(a)(ii)). The declaration must:...
Declaration to Collector-General
12 The declaration referred to in section 739D(8)(a) is a declaration in writing to the Collector-General which-
(a) is made and signed by the investment undertaking,
(b) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(c) contains the name, address, and tax reference number of the investment undertaking,
(d) declares that, to the best of the investment undertaking's knowledge and belief, no units in the investment undertaking were held on 1 April 2000 by a person who was resident in the State at that time, other than such persons whose names and addresses are set out on the schedule to the declaration, and
(e) contains a schedule which sets out the name and address of each person who on 1 April 2000 was a unit holder in the investment undertaking and who was on that date, resident in the State.
What appropriate declaration must a non-resident unit holder make so that an investment undertaking which was an SCIU investment undertaking on 31 March 2000 will not deduct retention tax from a gain payable?
(12) An investment undertaking which was an SCIU (section 734) on 31 March 2000 need not deduct retention tax from a gain payable to a unit holder if it makes before 30 June 2000 a non-residency declaration (section 739D(8)) to the Collector-General ...
Declaration of intermediary
13 The declaration referred to in section 739D(9)(a) is a declaration in writing to the investment undertaking which-
(a) is made and signed by the intermediary,
(b) is made in such form as may be prescribed or authorised by the Revenue Commissioners,
(c) contains the name and address of the intermediary,
[(d) declares that-
(i) at the time of making the declaration, to the best of the intermediary's knowledge and belief, the person who has beneficial entitlement to each of the units in respect of which the declaration is made-
(I) is not resident in the State, where that person is a company, and
(II) where that person is not a company, the person is neither resident nor ordinarily resident in the State, and
(ii) unless the investment undertaking is notified in writing to the contrary, every subsequent application by the intermediary to acquire units in the investment undertaking or an investment undertaking associated with the first-mentioned investment undertaking, shall be on behalf of such a person,
(e) contains an undertaking that where the intermediary becomes aware at any time that the declaration made in accordance with subparagraph (d) is no longer cAorrect, the intermediary will notify the investment undertaking in writing accordingly, and]1
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
Amendments
1 Subparas (d)-(e) substituted by Finance Act 2002 section 45(1)(a) from 1 January 2002.
What appropriate declaration must an intermediary make so that an investment undertaking will not deduct retention tax from a gain payable?
(13) An investment undertaking must not deduct retention tax from a gain payable to an intermediary who has made the appropriate declaration (section 739D(9)(a)). The declaration must:...
Certain resident entities: declaration of intermediary
14 The declaration referred to in section 739D(9A)(a) is a declaration in writing to the investment undertaking which-
(a) is made and signed by the intermediary,
(b) is made in such form as may be prescribed or authorised by the Revenue Commissioners, (c) contains the name and address of the intermediary,
(d) declares that-
(i) at the time of making the declaration, to the best of the intermediary's knowledge and belief, the person who has beneficial entitlement to each of the units in respect of which the declaration is made is a person referred to in [paragraphs (a) to (k)]1 of section 739D(6), and
(ii) unless the investment undertaking is notified in writing to the contrary, every subsequent application by the intermediary to acquire units in the investment undertaking or an investment undertaking associated with the first-mentioned investment undertaking, shall be on behalf of such a person,
(e) contains an undertaking that where the intermediary becomes aware at any time that the declaration made under subparagraph (d) is no longer correct, the intermediary will notify the investment undertaking in writing accordingly, and
(f) contains such other information as the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.
Amendments
Para 14 inserted by Finance Act 2002 section 45(1)(b) from 1 January 2002.
1 Substituted by Finance Act 2003 section 56(b) from 1 January 2003.
What appropriate declaration must an intermediary, acting on behalf of a resident body that is entitled to claim exemption from exit tax, make so that an investment undertaking will not deduct retention tax from a gain payable?
(14) An investment undertaking must not deduct retention tax from a gain payable to an intermediary acting on behalf of a resident body (for example, a Revenue approved charity or pensions fund) that is entitled to claim exemption from exit tax, prov...
