Providers who accept contributions from ineligible investors under the Goverment's new personal investment accounts are set to face financial penalties. Under changes the Tánaiste and Minister for Finance Simon Harris will propose to Cabinet this morning, fines of up to €3,000 can be levied for accepting ineligible investments. The new State-backed investment account will feature a tax-free threshold of €50,000 and will be open on 1 July next year.