Taxes Consolidation Act 1997 section 739FA

Electronic account filling requirement

Section 739FA empowers Revenue to make regulations requiring investment undertakings to file financial statements electronically.

• Revenue may, with the consent of the Minister for Finance, make regulations requiring investment undertakings (or sub-funds of umbrella schemes) to provide financial statements electronically.
• Regulations may specify which undertakings are covered, set filing deadlines, prescribe the electronic format and means of delivery, and deal with supplemental matters.
• A penalty of €1,520 applies where a person fails to file the required financial statements on time or files them in the wrong format.
• Regulations made under this section must be laid before Dáil Éireann and may be annulled by resolution within 21 sitting days.