I think what Kalifornia refers to is the sort of moratorium that allowed back in 2017 irish tax residents and domiciled persons
with undecalred foregin income to come clean, declare all the previously non declared foreign income and pay mitigated tax and penalties.
This was in light of the new CRS and FATCA agreements that was signed around that time I believe. As Dublin67 says it looks like you are supposed to declare that you are opening a foreign bank account as provisioned in the tax return. I personally think there wouldn't be a high degree of compliance thought. I guess... how many Paypal accounts (Paypal being a Luxembourg registered entity) do we have in Ireland, probably 1 every 4 people. I wonder how many of these people have declared the opening of a foreign bank account