New rules have been introduced which require trustees of express trusts to maintain certain information in respect of the trust’s beneficial owners. The rules have immediate effect, with the new obligations being imposed on trustees from 29 January 2019.
The Regulations apply to express trusts whose trustees are resident in the State or which are otherwise administered in the State. These include amongst others, trusts established as collective investment undertakings, trust-based pension schemes and security trusts.
Contributed by: Aoife Kavanagh & Deirdre Mooney
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