Stamp Duties Consolidation Act 1999 section 78H

Obligations and penalties

Section 78H sets out the record-keeping obligations imposed on a central securities depository (CSD), a transferee, or a person acting on a transferee's behalf following a transfer of an interest in securities, and the penalty for failing to comply.

• A CSD, a transferee, or a person acting on a transferee's behalf must retain evidence in sufficient detail to establish the amount of stamp duty chargeable on a transfer order.
• The evidence must be kept for six years from the date the transfer order was executed and made available to Revenue on request.
• Where Revenue has a payment agreement in place with a settlement system operator, the obligation falls only on the person who enters the transfer order into that system.
• Failure to comply attracts a fixed penalty of €1,265.