Taxes Consolidation Act 1997 section 267E

Returns of special term share accounts by credit unions

Section 267E requires credit unions to make annual returns to Revenue of special term share accounts opened during the previous year of assessment.

• Credit unions must file a return of new special term share accounts by 31 March each year with the appropriate inspector.
• The return must include the name and address of each account holder, whether the account is medium term or long term, and the date of opening.
• The "appropriate inspector" is the inspector who last notified the credit union in writing, or failing that, the inspector of returns.
• Penalties under sections 1052 and 1054 apply where a credit union fails to deliver the required return.