Taxes Consolidation Act 1997 section 787TB

Penalties

Section 787TB imposes penalties on persons who do not comply with the rules relating to limits on tax-relieved pension funds.

• A person who fails to comply with any obligation imposed by Chapter 2C, any regulations made under it, or Schedule 23B is liable to a penalty.
• The penalty is €3,000 for each separate failure.
• The penalty applies regardless of whether the person is a pension scheme administrator, employer, member, or any other party subject to the obligations.
• Each distinct failure to comply is treated as a separate offence attracting its own penalty.