Taxes Consolidation Act 1997 section 263E

Notification by the Revenue Commissioners relating to deposits of relevant amounts

Section 263E sets out the form and content of notifications issued by the Revenue Commissioners to financial institutions confirming that certain deposit accounts are exempt from deposit interest retention tax (DIRT), and the procedure for cancelling such notifications.

• Revenue must issue a written notification to the financial institution confirming that an identified account is not to be treated as a relevant deposit, meaning DIRT need not be deducted from interest paid on that account.
• The notification must include the name, address, and PPS Number of the person entitled to the interest, along with the account number of the deposit.
• Revenue may also include any other information they reasonably consider necessary for the purposes of the DIRT provisions.
• Revenue may cancel the notification at any time by issuing a written notice to both the financial institution and the account holder, after which DIRT will apply to the account from that point forward.