Taxes Consolidation Act 1997 section 784D

Conditions relating to an approved minimum retirement fund

Section 784D sets out the conditions that applied to approved minimum retirement funds (AMRFs), and provides that from 1 January 2022 qualifying fund managers can no longer accept assets into an AMRF.

• The AMRF requirement was removed from the ARF option with effect from 1 January 2022, and subsections (1) to (3) of the section were repealed by the Finance Act 2021.
• The retention and inspection rules in section 263(2) apply to declarations and certificates under the section, requiring the qualifying fund manager to hold them for the longer of six years or three years after the fund ceases.
• The Minister for Finance may, by order, specify requirements regarding the operation of AMRFs.
• From 1 January 2022, a qualifying fund manager must not accept any assets into an AMRF.