Protected trust deeds: improving the process consultation

11. Reporting to Creditors

11.1 A Form 4 must be prepared and sent to creditors by the trustee, which must include details of the debtor's income and expenditure, based on information obtained. Relevant details should be included where there has been a significant or material change. The trustee will be required to verify changes in income levels by inspecting pay slips or P60s. The Form 4 must be sent within 6 weeks of the anniversary of the date the trust deed was granted and each year thereafter for the period the PTD subsists. There remains a statutory requirement to make annual Form 4 returns to the AiB.

11.2 The trustee must inform and explain to creditors in the Form 4 if there has been any change to the notified expected final dividend payment of the PTD.