Taxes Consolidation Act 1997 Schedule 19 paragraph 15

Application for certification

Paragraph 15 of Schedule 19 sets out the procedure for an offshore fund to apply to Revenue for certification as a distributing fund in respect of an account period, including the required documentation, time limits, and the consequences of incomplete or inaccurate disclosure.

• An offshore fund must apply to Revenue for certification as a distributing fund, submitting its accounts for the relevant account period together with any additional information Revenue reasonably requires.
• The application must be made by the fund (or by a trustee or officer on its behalf) within six months after the end of the account period in question.
• Revenue must notify the fund in writing if it decides not to certify the fund, and must also notify the fund if it considers that the accounts or information filed did not fully and accurately disclose all relevant facts.
• Where Revenue gives notice that the disclosure was incomplete or inaccurate, any certification previously granted for the account period in question is deemed never to have been made and becomes void.

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