The 22nd November 2019 deadline is fast approaching and if you have attempted to file the information on the Central Register, you may have encountered some challenges to making a successful submission.
The RBO Registrar recently highlighted that the average rejection rate is 26% and approximately 8% of companies have filed on the Central Registrar.
Challenges with Filing
- Cannot save the draft or preview before submitting
- Information for the beneficial owner must be in accordance with the details registered with the Department of Employment Affairs and Social Protection
- If the application is rejected the notification does not state which details are incorrect if there is more than one beneficial owner
Department of Employment Affairs and Social Protection
Matching the information for the beneficial owner with the details in the Department of Employment Affairs and Social Protection is one of the biggest challenges to a successful submission.
The RBO Register is designed to accept and register submissions when all details entered are correct. Under Data Protection regulations, the RBO does not have access to the personal details entered by the presenter. Personal details are verified against Department of Employment Affairs and Social Protection (DEASP). They are not verified with the Revenue Commissioners.
These are the common reasons for a submission rejecting:
- PPSN and/or Date of Birth is incorrect
- Mismatch on name
- Using maiden name instead of married name and vice versa
- Using middle name in everyday usage, but not matching with forename as registered with DEASP (Paul Smith vs Michael Paul Smith)
- Using shortened versions of a name (Des/Desmond, Eddie/Edward)
- Using variations of a name (Bridget/Breege, Ted/Edward)
- Using Irish version of a name, when English version is registered with DEASP (Eibhlínn/Eileen)
- Using English version of a name, when Irish version is registered with DEASP (Eileen/Eibhlínn)
- Mix-up on entering details for multiple beneficial owners
If you have any queries regarding the information registered with the Department of Employment Affairs and Social Protection you are advised to contact them. This must be done only by the beneficial owner and not the presenter.
How Can CLS Help?
You can purchase our Register of Beneficial Ownership Templates from our website click here
Note: The content of this article is provided for information purposes only and does not constitute legal or other advice.
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