This section outlines the obligations of employers or other persons when awarding shares or cash equivalents to directors or employees. Specifically, it mandates that if such awards may incur income tax under Schedule D or E, the concerned party must submit the relevant details to the Revenue Commissioners electronically by 31 March of the following assessment year.

Furthermore, the requirement extends to reporting the value of any discounts on shares awarded. However, compliance with these provisions is not necessary if the employer is already fulfilling reporting obligations under other Income Tax Acts, ensuring that duplicative disclosures are avoided.