What must you record when you enter into a loan?

If you enter into a loan over £500, you must record these details: 

  • the required details of the source (please see Who can you accept donation and loans from? for guidance on the details you must record for each source)
  • the section of the party that has entered into the loan (central party or an accounting unit)
  • the nature of the transaction – whether it is a loan, credit facility or security arrangement 
  • the value of the loan 
  • the date the loan was entered into 
  • the date the loan is due to be repaid or a statement that it is indefinite, or otherwise how the date will be determined under the agreement 
  • if the loan ended, the date it ended
  • the rate of interest – or how the rate will be determined under the agreement, or a statement that no interest is payable
  • whether the agreement contains a provision that enables outstanding interest to be added to the sum owed
  • whether or not any security has been given for the loan
  • whether the loan was from an Irish source

If you are reporting a loan from an Irish individual or unincorporated association, you must also provide us with extra documents when submitting your quarterly report. Please see the sections Irish individuals and Irish unincorporated associations for further details.

Last updated: 31 March 2022