The Tánaiste says it's his preference that any additional public holiday would be in February or March.
However, Leo Varadkar says no decision has been made yet.
The extra public holiday has been proposed to honour healthcare workers and those who died as a result of Covid-19 throughout the pandemic.
He says a second bank holiday around St. Patrick's Day could still be a possibility:
"My preference is either February or March," said Leo Varadkar.
"One option is the sort of St Brigid's Day period. There's a big gap between the first of January and St Patrick's Day in terms of holidays.
"The other possibility is a kind of a four-day one over St Patrick's Day, and that would be, if you like the second anniversary of the pandemic in many ways."
Speaking on the Last Word on Today FM the Taoiseach Micheal Martin confirmed that it will still take time for a decision to be made on the post-pandemic bonus.
He expected an announcement to be "made over the next month".