Revenue eBrief No. 138/22

30 June 2022

Irish Real Estate Funds (IREF) July 2022 filing - updated Form IREF available

A new version of the Form IREF is now available on the Revenue website in the Related Forms panel.

Irish Real Estate Funds (IREFs) with accounting periods ending between 1 July 2021 and 31 December 2021 are required to file this updated Form IREF on or before 30 July 2022, as provided by Section 739R(2) TCA 1997.

IREFs should ensure they use the correct version of the Form IREF.

Updates to the Form IREF

The following updates have been made:

• Part 3 now requires disclosure of further detail relating to the following –
  • Units held in other IREFs,
  • Shares held in REITs,
  • Shares held deriving the greater part of their value from land and buildings, and
  • Specified mortgages held.
• Part 4 now requires disclosure of the following information –
  • Amounts paid to unitholders comprising a Return of Capital,
  • Remaining Capital Investment not returned to unitholders,
  • Confirmation that a valid Declaration provided for by Schedule 2C TCA 1997 is in place for each non-specified (i.e. exempt) unitholder as provided for under section 739K(1).
• The Notes and the Pay & File tabs have been updated to provide further guidance.

A number of formatting updates have been made throughout the Form IREF which affect the layout of the Form only, and a panel has been inserted on each part of the Form to capture the Tax Reference Number (‘TRN’) of the IREF. These panels should automatically populate from the Tax Reference Number input at Part 1 of the Form.