For the United States, the agreement applies only to RSDI coverage and Social Security taxes under the RSDHI program (i.e., FICA taxes for employment and SECA taxes for self-employment, including the Medicare portion). Thus, if an individual is exempt from U.S. Social Security coverage under this agreement, neither the employee or employer share of the FICA tax nor the SECA tax, in the case of a self-employed person, has to be paid.

For Ireland, the agreement applies to social security coverage and taxes that finance old-age, retirement, survivors, long and short- term disability, unemployment, maternity, occupational injuries, and deserted wives benefits as well as the health contribution and employment and training levy. Consequently, if an individual is exempt from Irish social security coverage as a result of the agreement, no contributions are due under these programs.