Taxes Consolidation Act 1997 section 917A

Return of property transfers to non-resident trustees

Section 917A requires a person who transfers property to the trustees of a non-resident settlement to notify Revenue within three months, providing details of the settlement, the property transferred, and any consideration received.

• Applies where property is transferred on or after 11 February 1999 to trustees who are neither resident nor ordinarily resident in the State, other than under an arm's length transaction
• The transferor must deliver a statement to the inspector within three months of the transfer identifying the settlement, the property, the transfer date, and any consideration
• The transferor must know, or have reason to believe, that the trustees are not resident or ordinarily resident in the State
• A penalty of €4,000 applies for failure to deliver the statement or for omitting required details