All rugby clubs are invited to enter the initiative via Ulster Bank's dedicated rugby website, www.ulsterbank.com/rugby.
One rugby club will receive a top prize of €10,000, as well as a special training session with an IRFU coach and two Irish rugby stars.
Four additional rugby clubs, one from each province, will each receive €5,000. Each winning club will be presented with their prize at the 2014 Ulster Bank League Awards in April.
All entries will also receive merchandise for their clubs, to the value of €100.
Since its inception in 2010, the RugbyForce initiative has provided over €100,000 in funding to over 160 rugby clubs, across the island of Ireland.
Speaking about the initiative, Alan Quinlan, former Munster and Ireland flanker and Ulster Bank rugby ambassador, said: "Ulster Bank has been championing support for rugby clubs and the communities in which they are based, since becoming Official Community Rugby Partner to the IRFU in 2010.
"Supporting our local rugby clubs is crucial for the development of Irish rugby. Every week, talented young stars are lining out for their clubs - stars which have the potential to progress to the professional game.
"We saw that recently with Craig Ronaldson moving from Lansdowne FC to Connacht and Darragh Fanning being plucked by Leinster from St. Mary's. Ulster Bank RugbyForce is about aiding development and providing clubs with the necessary resources to grow."
Ulster Bank RugbyForce encourages rugby supporters, their friends and families to give something back to their local community and rugby club by volunteering to undertake renovations to clubhouses and grounds.
After the winning clubs are announced in April, each club will carry out improvements to their club during a planned Ulster Bank RugbyForce Day - designed to bring communities together to support their club.
Last year, Ulster Bank RugbyForce received entries from over 135 clubs across the country.
Four rugby clubs - Birr RFC in Offaly, Midleton RFC in Cork, Westport RFC in Mayo and Newry RFC in Down - were selected as winners of €5,000 each.
A fifth club, Richmond RFC in Limerick, was also awarded €5,000 after 16 entries were shortlisted and put to a public vote.
Rugby clubs can enter RugbyForce on www.ulsterbank.com/rugby where extensive analysis and information on previous winners, the Ulster Bank League and all of Ulster Bank's club rugby initiatives can also be found.
Closing date for Ulster Bank RugbyForce registrations is Friday, April 11, 2014.