IBRC's junior bondholders are to be fully repaid, the Joint Special Liquidators of the institution have said.
Payment of the final dividend of 50% to unsecured creditors of IBRC will commence in the coming weeks.
It is understood this includes total payments of around €270 million to former junior bondholders in Anglo Irish Bank.
Anglo junior bondholders to be full repaid - what does this mean?
This payment represents the final instalment of the principal owed to unsecured creditors, including the State, at time of the liquidation of IBRC in February 2013.
As an unsecured creditor of IBRC, the State registered a claim of around €1.2 billion with the liquidators.
The final 50% dividend will be worth around €600 million to the State.
Junior bondholders are generally the creditors last in-line to be paid when an institution is liquidated.
IBRC was established to wind down Anglo Irish Bank and Irish Nationwide in the wake of the financial crisis.
The Joint Special Liquidators, Kieran Wallace and Eamonn Richardson, also confirmed they expect the State will recover further funds following repayment of other creditors, including subordinated bondholders, but no timeframe in relation to this payment has been given.
Minister for Finance Paschal Donohoe said the confirmation from the liquidators "brings clarity to all admitted unsecured creditors that they will receive 100% of what has been owed to them since IBRC went into liquidation in February 2013.
"The payment for the State, as the largest unsecured creditor of the liquidation with claims submitted in the region of €1.2 billion, will be used to improve the exchequer borrowing requirement as the funds received will increase the cash balances of the Central Fund and thereby reduce the required level of borrowing."
At the end of May this year the Joint Special Liquidators said they expect the liquidation of IBRC to be substantially completed by the end of 2022.
The total cost of the liquidation at that time was estimated to come to between €291m-€306m.
Sinn Féin Finance Spokesperson Pearse Doherty said the payment of "these hundreds of millions is a betrayal of the Irish people who bailed out the bank at a cost of €35 billion between Anglo and Irish Nationwide.
"We are talking about €285 million being paid out to bondholders who toughed it out gambling that there would be scraps to be made out of the carnage of the banking crash.
"Now they are being rewarded by the Irish State with an early Christmas present.
"Former Central Bank Governor Patrick Honohan argued against paying these bondholders saying there was no moral argument for doing so. Joan Burton as Tánaiste went on national radio to deny this would ever happen."
