Reporting Deposit Interest to Rev Commissioners

Wondering if there is any significance in the recent directive to financial institutions that Deposit interest paid from which DIRT was deducted has to be advised to the Revenue Commissioners.

Significance for who? The financial institution or the individual?

I suppose from an individuals point of view, if they have a big amount of Deposit Interest and do not otherwise fall under self-assessment then Revenue may issue a demand for the individuals to Form 11s, as they may wish to re-coup the PRSI and Health Levy that is due on the Deposit Interest.

Generally if your earnings for Deposit Interest in small Revenue either wavy the PRSI due or allow you to file a Form 12 which does not take into account Health Levies etc...

Just a compliance measure I believe.