Taxes Consolidation Act 1997 section 265

Deposits of companies and pension schemes

Section 265 sets out the additional information that financial institutions must include on their returns to Revenue when reporting interest paid on deposits that are exempt from deposit interest retention tax (DIRT).

• When a financial institution pays interest on a DIRT-exempt deposit held by a company or pension scheme, it must file a return under section 891.
• In addition to the standard information required on the return, the financial institution must include the tax reference number of the person who is beneficially entitled to the interest.
• Where the deposit is held by a pension scheme that does not have its own tax reference number, the return must instead include the tax reference number of the employer to whom the pension scheme relates.
• The tax reference number referred to is the number as defined in section 885 of the Taxes Consolidation Act 1997.