Taxes Consolidation Act 1997 section 739S

Statement to be given to recipients on the making of an IREF relevant payment

Section 739S requires an Irish real estate fund (IREF) to provide each unit holder with a written statement setting out details of an IREF taxable event at the time that event occurs.

• When an IREF taxable event occurs, the IREF must give the affected unit holder a statement in writing or by electronic means.
• The statement must show the names and addresses of both the IREF and the unit holder, the date of the taxable event, the IREF taxable amount, and the amount of IREF withholding tax deducted.
• The taxable events triggering this obligation are those falling within paragraphs (a) to (e) of the definition of "IREF taxable event".
• If the IREF fails to comply, the same penalties apply as for failure to issue correct dividend or interest warrants under section 152(2).