Taxes Consolidation Act 1997 section 787N

Qualifying overseas pension plan: relief for contributions

Section 787N sets out how tax relief is given for contributions made by migrant workers (or their employers) to qualifying overseas pension plans, and provides Revenue with powers to obtain information from plan administrators.

• Where a relevant migrant member (or their employer) pays contributions to a qualifying overseas pension plan and provides a certificate of contributions, relief applies as if the plan were a Revenue-approved occupational pension scheme, retirement annuity contract, PRSA, or PEPP, subject to the same limits that would apply to those domestic arrangements.
• Revenue have discretion to treat an individual as a relevant migrant member even where the individual has not been resident outside Ireland for a continuous three-year period before coming to Ireland, provided they are satisfied the failure should be disregarded in the circumstances.
• Revenue may by written notice require the administrator of a qualifying overseas pension plan to provide, within 30 days, any information and particulars they may reasonably require about payments under the plan.
• The notice must specify what information is required and the form and manner in which it is to be provided.