Taxes Consolidation Act 1997 section 848R

Registration etc

Section 848R sets out the registration requirements for qualifying savings managers of special savings incentive accounts (SSIAs), including the appointment of responsible persons, cancellation of registration, cessation procedures, the format of returns, and the retention of declarations.

• A person must be registered with Revenue to act as a qualifying savings manager; where the manager has no State branch or does not carry out all functions there, a State-resident individual or State-established entity must be appointed to discharge the manager's obligations jointly and severally.
• Revenue may cancel a manager's registration where the manager would no longer qualify or has failed to comply with its obligations, and a manager refused registration or whose registration is cancelled may appeal to the Appeal Commissioners within 30 days.
• A manager intending to cease acting must give at least 30 days' notice to both Revenue and the qualifying individuals whose SSIAs it manages, informing those individuals of their right to transfer their accounts.
• Monthly and annual returns must be submitted electronically in a Revenue-approved format (or in writing if electronic facilities are unavailable), and managers must retain specified declarations for three years after maturity or cessation of each SSIA.