Central Register of Beneficial Ownership of Trusts

Anti-money laundering legislation requires each European Union (EU) Member State to establish a Central Register of Beneficial Ownership of Trusts (CRBOT).

The purpose of the CRBOT is to help prevent money laundering and terrorist financing by improving transparency on who ultimately owns and controls Irish trusts.

The CRBOT will contain details of relevant trusts and their beneficial owners. Trustees need to submit these details to Revenue, who will manage the CRBOT.

You can find information on how to register in the How to register for CRBOT section.

Note

Revenue’s role in managing the CRBOT is separate from its role in tax and customs administration. Revenue records will not be used to update the register. The CRBOT is a standalone register and each trust will be given a separate Trust Register number.

The Registrar

Revenue has appointed Mr Patrick O’Connor as the Registrar. The Registrar is supported by a number of Assistant Registrars.

Registration deadline

Note

Trustees are legally obliged to register beneficial ownership information within six months of the trusts’ creation.

For trusts that established on, or before, 23 April 2021, the registration deadline was 23 October 2021. 

Revenue engaged widely with professional and representative bodies during the launch of the CRBOT. Following the filing deadline in October 2021, Revenue recognised the genuine difficulties for some trustees in registering on time. Revenue accepted registrations as compliant for a reasonable period after that date where the trustee was making best efforts. That ‘reasonable period’ has now expired.

A programme of compliance activities checking the quality of data submissions is in progress. Revenue is following up with a programme of checks on sectors where trusts are commonly used, to ensure compliance with filing obligations. These sectors include the financial, sporting and charitable sectors.

You can find information on what trusts should register in the Trusts required to register and certain exemptions section. 

You can find information on who will access the CRBOT, and why, in the Inspecting the CRBOT section.

Relevant legislation

The legislation that specifically applies to the CRBOT is:

• The 4th  and 5th  Anti-Money Laundering Directives (AMLD), which require each EU Member State to establish a CRBOT.
• S.I. No. 194 of 2021 and The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2021, which transposed into Irish law the requirements of the directives.