Foreign deposit interest must be declared on your annual tax return:

  • Usually on a Form 11
  • Under the section “Foreign Income – EU Deposit Interest” or under “Other Deposit Interest” depending on the bank account.
  • Irish tax resident individuals need to complete a Form 11 in the year they open a foreign bank account, regardless of their other income sources.

Thereafter, if non-PAYE income exceeds €5,000 NET or €30,000 gross in a year, an annual Form 11 is required.

FastTax.ie simplifies the Form 11 completing and filing process and ensures it’s done correctly.