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From 1 April 2020, the reporting requirements for investment income are changing.

Information requirements

If you attribute income you need to send us the following information at the end of the year:

  • your name, IRD number and contact address
  • whether you are a superannuation fund, a retirement savings scheme, or neither
  • the total amount of income attributed
  • the total amount of tax credits provided
  • the total amount of imputation credits provided.

The following information is required for each of the income recipients who had PIE income attributed to them:

  • their name
  • the amount and type of income paid.

If you are a non-locked in PIE you must also provide the contact details (email, street address or mobile phone number) for each of the people who had PIE income attributed to them.

If it is available, you need to provide the following information for each of the income recipients who had PIE income attributed to them:

  • their date of birth
  • the investor rate they provided.

You must provide the name of any joint owners. If held, you also need to provide the following information for any joint owners:

  • IRD number
  • date of birth
  • contact address.

Due dates

  • For non-locked in funds with a balance date between October and February, this information must be provided by the 15th of May each year.
  • For locked in funds with a balance date between October and February, this information must be provided by the 30th of June each year.
  • For funds with a balance date between April and September, this information must be provided to us by the end of the second month after year end.
  • If a PIE ceases, this information must be provided to us by the end of third month after the PIE is wound up.

You will need to report this electronically unless you have an exemption.

If you are a cash fund PIE, the new notification requirements do not apply to customers who became investors prior to 1 April 2018. The new requirements do not apply even if the investor purchases additional units in the same PIE fund after 1 April 2018.

IRD numbers

New investors who are resident in New Zealand must provide you with their IRD numbers. If they fail to provide their IRD number within 6 weeks you must close their accounts.

Non-residents who do not have an IRD number must provide the equivalent tax identification number for their country of residence, or a declaration if they are unable to. Non-residents who subsequently become residents must provide you with their IRD numbers within 6 weeks of notifying you they have become a resident or you must close their accounts.

If you allow investors to invest jointly then you must collect the IRD number of each of the joint investors. If any joint investors fail to provide their IRD numbers you must allocate the investment proportionally between all investors and close the accounts of those who did not provide an IRD number. 

Filing investment income electronically

Correcting errors in investment income reporting

Reporting requirements before 1 April 2020

Transitioning to the new investment income reporting requirements

Intermediaries and others