Issues registering to ROS to file Form 11

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franc82

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Has someone being able to register to ROS recently? I am a PAYE employee and currently using myAccount. I would like to register to ROS to file a Form 11 but I am failing at the very first step (ROS Access Number (RAN)).

I am trying to apply as an Individual or Company but I am unsure which Tax type or registration number to use given that may PPS number doesn't seem to be accepted.

I contacted Revenue to report the problem but I understand that it could be some time before they get back to me so I am dumping the question here in case someone has come across this issue recently.

Thanks in advance.
 
Form 11 - "An individual who was granted share options or opened a foreign bank account in 2023 is a chargeable person."

Can someone confirm...
Does this form 11 need to be filled for Trade Republic, Lightyear, Raisin etc.
I had only added the interest earned to my account in Revenue.

Thank you!
 
ACER10 said:
Form 11 - "An individual who was granted share options or opened a foreign bank account in 2023 is a chargeable person."

Can someone confirm...
Does this form 11 need to be filled for Trade Republic, Lightyear, Raisin etc.
I had only added the interest earned to my account in Revenue.

Thank you!
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My understanding is that you do need to file a Form 11 even if you just open a saving account on those platforms as any gain made there will have to reported to Revenue and tax accordingly.
 
ACER10 said:
Form 11 - "An individual who was granted share options or opened a foreign bank account in 2023 is a chargeable person."

Can someone confirm...
Does this form 11 need to be filled for Trade Republic, Lightyear, Raisin etc.
I had only added the interest earned to my account in Revenue.

Thank you!
Click to expand...
The EU is not included in the definition of "foreign" here. So it is Form 12 / myAccount. You can read more about the reporting in the "Deposits" subforum.

Opening a foreign bank account

You must file a Form 11 tax return for any year that you open a foreign bank account.
www.revenue.ie www.revenue.ie
 
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Corola said:
Do you have any income in 2023 that makes you a chargeable person? You shouldn't do this without a valid reason.
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Yes indeed on December 29th 2023, Trade Republic paid me some interest for some cash I held in my account. The amount isn't that much to be honest but I just want to do the right thing by reporting it.
 
Trade Republic does not make you eligible for ROS. You should file it in myAccount. There is more info here:

EU Deposit Interest - Revenue Reporting

I don't agree that practically everyone is at 37% or using Form 11 over Form 12. If you use Form 12 you will pay 33% without PRSI. It says in the link: PAYE tax payers who are not considered 'chargeable persons' by Revenue are not liable for the new PRSI charge. A person is not a 'chargeable...
askaboutmoney.com

I would post these questions on a different subforum as they are not related to ETFs.
 
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Yeah, you can report EU deposit interest in your regular myAccount return.
You only need a form 11 if you need to declare ETF exit tax for a deemed or actual disposal (or your deposit interest is over 5K)

Although the jury is out on whether you need to need to declare purchases of Irish-domiciled ETFs in form 11. I don't think you need to, and some responses I've seen agree. But others believe and say the opposite.
 
Corola said:
Trade Republic does not make you eligible for ROS. You should file it in myAccount. There is more info here:

I would post these questions on a different subforum as they are not related to ETFs.
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Thank you for sharing this with me. I will look into it.

They're other parts of my investment portfolio that I believe will need to be reported in the File 11 anyway. Namely, I bought some accumulating Irish-domiciled ETFs and some bonds. The interest in the bonds will be paid this year (in April and in December).

Although the expected income from the bond interests and the interest on the uninvested cash will not exceed 5k, I believe that Form 12 is limited to file those hence the need to file Form 11. My understanding is that Form 11 and 12 can only be filed from ROS. So that's why I sign up to ROS and hit a hurdle.
 
I would still use myAccount rather than ROS. As @Innisfree said, it's not clear whether you need to report Irish-domiciled ETFs, so I would stick with the simplest option.

You can file bond and deposit interest on Form 12 / myAccount.
 
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Corola said:
I would still use myAccount rather than ROS. As @Innisfree said, it's not clear whether you need to report Irish-domiciled ETFs, so I would stick with the simplest option.

You can file bond and deposit interest on Form 12 / myAccount.
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Thanks a lot for your help, really appreciate it @Corola

I saw in my Income Tax Return a place where I can enter the EU Deposit Interest (excluding UK interest), so that should be ok with the interests received.

For the bond dividends, should I report it under Other Foreign Income Including Rents? This is only available when I amend Income Tax Return for 2023. For this year, they're quite a lot of options missing. Given that that interests was paid at the end of December 2023, should I report it in my 2023 Income Tax Return or 2024?

There doesn't seem to any place where I can report the purchase of ETFs this year which makes me think that I will have to file a Form 11 at some point.
 
I'm sorry I don't know the answer about bond dividends. It could be any of the following depending on the country:
- Untaxed Income Arising in the State
- UK ‘Other’ Interest
- EU ‘Other’ Interest (excluding UK interest)
- Foreign Non-Deposit Int/Annuit/Royalt/Divs
 
Corola said:
I'm sorry I don't know the answer about bond dividends. It could be any of the following depending on the country:
- Untaxed Income Arising in the State
- UK ‘Other’ Interest
- EU ‘Other’ Interest (excluding UK interest)
- Foreign Non-Deposit Int/Annuit/Royalt/Divs
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Indeed but those options are only available in the 2023 of Income Tax Return in myAccount. There is no such option in 2024, no idea why Revenue took them off. So how am I supposed to report Bond interests for 2024?
 
You can report 2024 interest in 2025. You complete your Income Tax Return after the year is finished.
 
franc82 said:
Has someone being able to register to ROS recently? I am a PAYE employee and currently using myAccount. I would like to register to ROS to file a Form 11 but I am failing at the very first step (ROS Access Number (RAN)).

I am trying to apply as an Individual or Company but I am unsure which Tax type or registration number to use given that may PPS number doesn't seem to be accepted.

I contacted Revenue to report the problem but I understand that it could be some time before they get back to me so I am dumping the question here in case someone has come across this issue recently.

Thanks in advance.
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You need to submit a TR1 form first, registering for non PAYE Income Tax. They will then free up your PPS to access ROS.
 
Grasshopper said:
You need to submit a TR1 form first, registering for non PAYE Income Tax. They will then free up your PPS to access ROS.
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Thanks for your input. As stated above, the non PAYE Income can already be registered in Form 12 which is available from myAccount. So are I meant to register the income twice then?
 
Just do Form 12 / myAccount. Don't register for ROS until the year after you sell the ETF or have a deemed disposal.
 
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franc82 said:
Has someone being able to register to ROS recently? I am a PAYE employee and currently using myAccount. I would like to register to ROS to file a Form 11 but I am failing at the very first step (ROS Access Number (RAN)).

I am trying to apply as an Individual or Company but I am unsure which Tax type or registration number to use given that may PPS number doesn't seem to be accepted.
Click to expand...

It's a long time since I registered for Form 11. But looking at the options now, I would select "individual or company", then select "income tax" from the drop-down and then enter your PPSN. Alternatively, you could try selecting "DIRT" from the drop-down.
 
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