End of year returns
Types of returns
The following chart shows the type of returns that must be filed by portfolio investor entities (PIE) at the end of the year.
| PIE type | PIE return | Income tax return | Annual reconciliation | Investor certificate | Investor statement |
|---|---|---|---|---|---|
|
Quarterly zero PTRE |
X |
X |
X | X | |
|
Annual exitor PTRE |
X |
|
X |
X | X |
|
Provisional taxpayers |
|
X | X | X | X |
|
Annual income tax return filers |
|
X |
|
may issue statement at their discretion |
End of year PIE periodic return (IR852)
| If you are a ... | then you will file ... | Note |
|---|---|---|
|
quarterly zero PTRE |
a PIE periodic return for the quarter starting 1 January and ending 31 March. |
|
|
annual exitor PTRE |
a PIE periodic return for the tax year 1 April to 31 March for all investors who did not exit during the year. |
Include details for investors who exited during the month of March. |
The PIE periodic return is due no later than 30 April.
No extensions of time to file PIE periodic returns will be allowed.
Annual reconciliation return (IR853)
All PTREs must file an annual reconciliation return (IR853) electronically.
Portfolio listed companies, portfolio defined benefit funds and portfolio investment-linked life funds do not have to file annual reconciliation returns as they do not pay tax based on their investors' PIRs and do not allocate income to investors.
End of year PIE annual reconciliation due dates
| If you are a PTRE or PIP that ... | then annual reconciliation and investor certificates are due by ... |
|---|---|
|
has a 31 March or earlier balance date |
30 June following the tax year. |
|
has a balance date later than 31 March |
the end of the second month after the balance date. |
|
ceases to be a PIE |
the end of the second month following the month of cessation. |
No extensions of time to file an annual reconciliation will be allowed.
Investor certificates (IR854)
The PIE sends investor certificates to us at the time of filing the annual reconciliation return. They are different from the investor statements that the PIE issues to the investor.
Investor certificates must be sent in the prescribed electronic form within the same timeframe allowed for the reconciliation. The reconciliation return (IR853) and certificates can be included in the same file that PIEs submit PIE returns, through the file transfer service.
There is no payment required with the annual reconciliation return; it is a data drop only. Any PIE tax payable is due by the required due dates for the PIE periodic returns.
If the investor certificates are not sent with the annual reconciliation return or are invalid we will contact the PIE to arrange for the investor certificates to be filed, or resubmitted.
PIEs cannot just send a copy of the investor statement sent to investors as it is likely to be paper-based whereas the investor certificate must be filed in an electronic format.
The investor's IRD number should be shown on the investor certificate. However, it is critical that the PIE's IRD number must be recorded correctly. If the PIE's IRD number is not recorded or invalid all the certificates will be rejected and the PIE will be required to resubmit all investor certificates.
Investor statements
PTREs are required to issue investor statements to investors.
An investor statement must be issued for each tax year by:
- 30 June after the end of the PTRE's tax year, or
- the end of the month following the quarter in which an investor exits a quarterly zero PTRE
- the end of the second month following the month in which the PTRE's income year ends if the PTRE has a balance date later than 31 March.
This information will also be needed by:
- exiting or zero-rated investors so that they can comply with their tax obligations for any income or loss allocated to them by a portfolio tax rate entity, and
- investors so that they can determine their PIR in subsequent years.
Other PIE responsibilities at the end of the year
PTREs should ask investors to give them their PIR and IRD number.
The PTRE must also make any changes to its allocation and/or calculation periods before the start of the tax year.
Consequences of not filing a tax return or annual reconciliation
Although PIEs that file income tax returns will continue to be entitled to request extensions of time to file their income tax returns, there will be no extension of time granted for filing IR 852 PIE periodic returns, or IR853 annual reconciliation returns.
Late filing of quarterly returns for quarterly zero PTREs or the March return for annual exitor PTREs, or the annual reconciliation will prompt late filing penalties. Failure to file those PIE returns may also prompt prosecution action.
All PIE periodic returns must be filed electronically. Failure to do so will incur a non-electronic filing penalty of $250.
Late payment penalties may also apply, as with any other tax type.
Penalties can also be applied for failure to provide investor certificates.
Find out more
Find out more about the return detail requirements
Date published: 29 Jul 2008
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