Taxes Consolidation Act 1997 section 848O

Declaration on transfer

Section 848O set out the contents of the written declaration that a qualifying individual was required to complete and sign when transferring a special savings incentive account (SSIA) to a new qualifying savings manager.

• When an SSIA was transferred to a new qualifying savings manager, the account holder was required to complete and sign a written declaration in a form prescribed or authorised by the Revenue Commissioners, containing a reference to the offence of making a false declaration under section 848T.
• The declaration had to include the qualifying individual's name, address of permanent residence, PPS Number, and date of birth.
• The individual was required to declare that he or she was tax resident in the State when the SSIA was commenced, was the beneficial owner of the qualifying assets being transferred, and had not commenced another SSIA.
• The individual also had to declare that subscriptions to the account had been and would continue to be made from his or her own resources (or those of his or her spouse) without recourse to borrowing, and that the qualifying assets in the account had not been and would not be assigned or pledged as security for a loan.