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Opening Bank Account

  • 25-04-2015 12:41pm
    #1
    rgossip30
    Registered Users, Registered Users 2 Posts: 2,590 ✭✭✭


    When you open a bank account what details are reported to revenue and how soon is this report made ?
    Tagged:


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    None


  • #3
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    If you're opening the account with a large amount of money, it may be reported to the Revenue Commissioners under Money Laundering legislation


  • #4
    rgossip30
    Registered Users, Registered Users 2 Posts: 2,590 ✭✭✭rgossip30


    I got an e mail from KBC that initially any interest bearing account is reported to revenue with details. Then after only interest over 635 gross is reported.


  • #5
    Spocker
    Moderators Posts: 6,900 ✭✭✭Spocker


    You're probably referring to section 26.4 of this document - it means they will if they have to, not that that they do it automatically. All financial institutions would have that provision in their T&C's of various accounts.


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