Declaration on maturity

Summary

This section sets out details which must be included in an individual’s declaration when his/her SSIA matures. If the declaration is not completed, the SSIA is deemed to have ceased and the tax treatment of the SSIA will proceed on that basis.

Details

Declaration

For an SSIA to be treated as maturing, the individual concerned is required to complete and sign a declaration in a form authorised by the Revenue Commissioners. It must contain a reference to the offence of making a false declaration and be given to the savings manager. The details required are —

• name;
• address of permanent residence;
• PPSN; and
• date of birth.

The individual is also required to declare that at all times during the life of the SSIA he/she —

• was the beneficial owner of the assets held in the SSIA;
• had only one SSIA;
• was resident or ordinarily resident in the State;
• subscribed to the SSIA from funds available to him or her, but not directly or indirectly from borrowings; and
• did not use the assets in the SSIA as security for a loan.

Relevant Date: Finance Act 2019