Taxes Consolidation Act 1997 section Schedule 2B, paragraph 9A

Declaration of PRSA Administrator

Paragraph 9A of Schedule 2B sets out the requirements for a declaration by a PRSA administrator to an investment undertaking, so that exit tax is not deducted from gains arising on PRSA assets.

• A PRSA administrator can make a written declaration to an investment undertaking confirming that units held are assets of a PRSA, preventing the deduction of exit tax on gains.
• The declaration must be in a form prescribed by Revenue, signed by the administrator, and must identify the beneficial owner by name, address and tax reference number.
• The administrator must undertake to notify the investment undertaking if the units cease to be PRSA assets or are transferred to another PRSA.
• The declaration must also include any other information that the Revenue Commissioners may reasonably require for the purposes of Chapter 1A of Part 27.