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Regulatory Reporting for Non-FVC Section 110 Companies

Regulatory Reporting for Non-FVC Section 110 Companies

At present, companies which are classified as Financial Vehicle Corporations (“FVCs”) or Special Purpose Vehicles (SPVs) have an obligation to register with the Central Bank of Ireland (“CBI”) and provide certain information in respect of their business activities on a quarterly and annual basis. Most FVCs have elected into the Irish Section 110 tax regime. However, many Section 110 companies are not FVCs.

From November 2015, all Irish incorporated Section 110 companies which are not FVCs, will be obliged to file quarterly and annual statistical returns with the CBI. The reporting regime is very similar to that currently applicable to FVCs.

The CBI is currently considering whether or not to include non-Irish incorporated Section 110 companies in the reporting regime.

Learn how to register your special purpose vehicle with the Central Bank of Ireland.