There is a new requirement on Irish funds to make annual returns to the Irish Revenue Commissioners in relation to Irish investors and the value of their holdings. A report on the investors as at 31 December 2012 is due by 30 September 2013. The due date in future years is 31 March in relation to the previous calendar year.

The Irish funds industry has been working with the Revenue Commissioners to agree details of the precise requirements and to ensure that practical administrative issues are taken into consideration. Reporting is not required for Irish investors with exempt status (e.g. pension funds) or for non-resident investors, provided the required documentation is in place. Units held in recognised clearing systems are also outside the scope of the reporting.

Funds and administrators should note that the tax reference number (PPS number) of an Irish individual who invests on or after 1 January 2014 will need to be reported, and so, this information should be collected from this date.