Taxes Consolidation Act 1997 section 904G

Power of inspection: claims by qualifying insurers

Section 904G provides for the audit by authorised Revenue officers of qualifying insurers who participate in the tax relief at source (TRS) scheme for long-term care insurance policies.

• An authorised Revenue officer may enter a qualifying insurer's premises at reasonable times to audit TRS repayment claims made by that insurer.
• The officer may examine the insurer's claim-vouching procedures and check a sample of cases to verify those procedures are adequate and followed in practice.
• The insurer and its employees must provide information, explanations, and assistance as reasonably required by the officer for the audit.
• Penalties apply for non-compliance: €1,265 for an employee, €19,045 for the insurer itself, plus a daily penalty of €2,535 for each day the insurer's failure continues.