Examples of PRSA administrator in a sentence
In the case of an approved retirement fund/an approved minimum retirement fund or a PRSA, it must be signed by a qualifying fund manager or PRSA administrator.
Where a PRSA administrator is a company, the declaration must be signed by the company secretary or such other authorised officer.
It must also be signed by a qualifying fund manager of an approved retirement fund/an approved minimum retirement fund, by a qualifying savings manager of a special savings incentive account or by a PRSA administrator.
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Specified Amount 28.4The imputed distribution for a tax year is referred to in section 790D TCA 1997as the specified amount and is computed by way of a formula: (A x B) – C (where the amount so computed is greater than zero) and where – 100 A is the value of the assets in a relevant fund on 30 November for the year 2012 onwards, excluding the value of assets retained by a PRSA administrator as would be required to be transferred into an AMRF in accordance with an option to transfer PRSA assets to an ARF.
The reference to “the value of the assets retained by the PRSA administrator as would be required to be transferred to an AMRF” in the meaning of “A” excludes from the asset base the assets that a PRSA administrator is obliged to retain in the PRSA because the owner has not satisfied the specified income requirement or has not established an AMRF of the required amount.
It must also be signed by a qualifying fund manager of an approved retirement fund/an approved minimum retirement fund, by a qualifying savings manager of a special savings incentive account or a PRSA administrator.
These are largely based on definitions elsewhere in Part 30, but the following should be noted: “non ring-fenced amount”, in relation to a vested PRSA, means the amount or value of assets in the vested PRSA that the PRSA administrator can make available to, or pay to, the PRSA contributor or to any other person.
PRSA administrator makes PRSA assets available to a PRSA member, section 787G(2) requires the administrator to deduct income tax computed on the amount or value of the assets.
In the case of a PRSA, the declaration must be signed by a PRSA administrator.