Submission of Annual Online Returns to Central Bank
Tue Jun 9 2020
It is a requirement for ALL intermediaries to make an annual return to the Central Bank of Ireland via the online system within 6 months of the end of your accounting period.
Please note: All members who have a year end of the 31st December 2019 are required to make this return before the 30th of June 2020. Members should note however that this year’s return will not be available for completion until the 12th June 2020 as a new return is being built to accommodate for the new Professional Indemnity Insurance base limits that apply from the 12th June 2020.
In order to make a timely return, members are advised to commence collating the required information now. For your reference, please click on this link to bring you to the Central Bank Guidance on making a return, and an up to date mock-up is available here
Members should note, that the Central Bank have advised that they are acutely aware of the added pressure firms are under at this time and acknowledge the current difficult situation regarding COVID 19, and will take this into consideration when engaging with firms who are experiencing difficulties in submitting their returns and will assess each on a case-by-case basis. We therefore encourage you to contact the Central Bank at OnlineReturns@centralbank.ie if you expect your returns to be delayed.
IMPORTANT – Firms authorised under the Investment Intermediaries Act, 1995 (IIA) – See Below
It is important to note that sole traders, partnerships or an un-incorporated body of persons are required to prepare a Certificate of Solvency in line with 3.7 of the 2014 Handbook of Prudential Requirements for Investment Intermediaries which can be requested by the Central Bank at any time. The Certificate of Solvency is only required to be submitted if requested by the Central Bank.
Sole Traders/Partners/Ltd Companies
Following the submission of the firm’s annual online return, the firm’s auditor is required to submit a Statutory Duty of Confirmation (SDC) to the Central Bank in relation to the authorised entity. Template copies of SDCs are available from the auditor’s accountancy body. A scanned copy of the SDC should be submitted by e-mail to email@example.com within 1 month of the date of the audit report. The report must state whether or not circumstances have arisen that require the auditor to report a matter to the Central Bank under a prescribed enactment. Members should seek confirmation from their auditor that this requirement has been complied with.
Members who are having technical difficulties with the online Reporting System should contact the Regulatory Transactions Division directly at OnlineReturns@centralbank.ie