First contribution year for a PRSA

LostinKildare · 2022-04-07 16:39:31

I cannot find an answer to this question anywhere, possibly because it's so dumb that no one's considered it, but here goes: I have just set up a PRSA and want to make a lump sum contribution of the full amount allowed by my age for tax relief. I understand that up to Oct 31, one can make a PRSA contribution and attribute…

07-04-2022 05:39PM

#1

LostinKildare

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I cannot find an answer to this question anywhere, possibly because it's so dumb that no one's considered it, but here goes:
I have just set up a PRSA and want to make a lump sum contribution of the full amount allowed by my age for tax relief.
I understand that up to Oct 31, one can make a PRSA contribution and attribute it to the previous year (in this case, 2021), but is it possible to do that if I didn't start the PRSA until 2022?

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#2 08-04-2022 10:40AM

[Deleted User]
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Yes.
The PRSA 1/2 Certificate will have the date of receipt of the money by the provider on it but you just elect to backdate it to 2021 tax year with Revenue.

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#3 08-04-2022 04:46PM

LostinKildare

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Thank you, GerardS

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