In the Finance Bill, not yet law
Moving your existing investments into a PIA
You can't. Only money goes into the account, and investments only move across as they are from another PIA. Anything you hold today would have to be sold first and paid in as cash, up to €12,000 a year.
Updated 20 October 2026
What section 26 says
- Cash only. Money paid in is used by the provider solely to buy eligible investments (s.747L(2)(c)).
- PIA-to-PIA transfers only. Investments move as they are only when you switch from one PIA provider to another, if the new provider agrees (s.747W).
- One account, in your sole name. No joint or couple's accounts, and one account at a time (s.747L(2)(a), s.747O).
- €12,000 per calendar year, counted before any withdrawals (s.747H(1), s.747L(2)(d)).
How long it takes to move savings in
Paying in the full €12,000 every calendar year, from the first year.
€25,000
3 years
€60,000
5 years
€150,000
13 years
€500,000
42 years
Limit €12,000 a year. Ignores growth and any tax due on selling.
What it means in practice
- Selling ETFs outside the account is a taxable event: exit tax on any gain (38% in 2026, 35% from 2027 under the Bill). Shares are subject to CGT, with loss relief and the €1,270 annual exemption.
- Larger portfolios take years to move in, so many people will hold investments both inside and outside the account for a long time.
- Couples get two accounts, two €50,000 thresholds and two €12,000 limits, but each account belongs to one person.
Not advice
Whether and when to sell is a personal decision that depends on your gains, tax and plans. This page sets out the Bill's rules only.
Frequently asked
Can I transfer my existing ETFs into a PIA?
No. Under section 26 of the Finance (No. 2) Bill 2026, only money can be paid in, and the provider uses it to buy eligible investments (s.747L(2)(c)). Investments can only move across as they are from another PIA, when you switch provider (s.747W).
Does selling my ETFs to fund a PIA trigger tax?
It can. Selling an ETF outside the account is a disposal for exit tax (38% in 2026, 35% from 1 January 2027 under the Bill), and selling shares is a disposal for CGT. Any tax due depends on your gain.
Can my spouse and I open a joint PIA?
No. Each account is in one person's sole name (s.747L(2)(a)). A couple can each hold their own account, each with its own €50,000 threshold and €12,000 yearly limit.
Can I have more than one PIA?
Not under the Bill as drafted. You can hold one account at a time, with a short overlap only while it transfers to a new provider.
Keep reading
Run your own numbers
Compare a Personal Investment Account against a deposit account and a standard fund over 10, 20 or 30 years — with real Irish rates.
Open the PIA calculatorInformation only, not financial or tax advice. PIA rules are as written in the Finance (No. 2) Bill 2026, published 19 October 2026, and are not law until the Bill is signed. Figures cited are from the Department of Finance roadmap, Revenue, Skatteverket, GOV.UK and the IRS.