Actually found some very good information on revenue site including an FAQ document which addressed my questions.
I don't have permission to paste the link but under "news" on revenue home page see item dated 5/1/2017 "Changes precluding Qualifying Disclosure regarding Offshore matters, effective 1 May 2017."
2.2 I have money offshore does that mean I have a tax problem?
If all the money you put offshore has already been declared for Irish tax purposes and you have declared all income or gains arising from that money on your tax returns, you have no further liability and you do not need to make a disclosure. If you have opened an offshore account or acquired a financial product with monies that are exempt from tax or on which the correct Irish tax has already been paid and have not earned any income on the account or financial product itself, you have no tax liability. However taxation is complex and it is possible that there might have been changes in the law or in the treatment of foreign investments of which you are not aware. Now is a good opportunity to review your foreign investments, accounts and assets, including shareholdings in foreign companies to check whether you have a liability that you may not have been aware. If the money which was put offshore was not previously declared or you have received income or gains from offshore sources which you have not declared, it is very likely that you have a liability. In these circumstances, you are strongly advised to make a disclosure to bring your tax affairs up to date. If you make a qualifying disclosure you will be subject to reduced penalties, your name and details of your settlement will not be published in the list of tax defaulters and you will not be prosecuted.