Once you've deducted the RWT from interest or dividends you must send it to us. How often you have to send it in depends on the total amount of RWT that you deduct and whether it is from interest or dividends.
- When to pay your RWT on interest
- When to pay your RWT on dividends
- If the RWT amount you pay alters
- If you don't receive your IR15P
- If you use the wrong form
- If you don't have any RWT to pay
- If you make a mistake when deducting your RWT
- If the investor's RWT certificate is cancelled
- How to pay your RWT
- Issuing receipts
RWT of $500 or more per month
If you deduct RWT of $500 or more each month, you must pay the deductions made in each month by the 20th of the following month. We will send you a preprinted RWT on interest (IR15P) form.
RWT of less than $500 per month
If you deduct RWT of less than $500 each month, you may pay on a six-monthly basis. We'll send you a preprinted IR15P for the following periods:
- 1 April to 30 September - due for payment on 20 October
- 1 October to 31 March - due for payment on 20 April.
If the RWT deductions you've made accumulate to $500 during a six-month period, you must download an IR15P and send it with the payment by the 20th of the month after the month your RWT deductions reach $500.
Once you have made an extra payment the next return period will cover from the start of the month in which the payment was due to be made until the end of the next normal return period. These two returns will cover less than six months each, but cover the full six months between them.
Once you've deducted the RWT from dividends, you need to send it to us by the 20th of the month following the deduction.
To make a payment use either a:
- RWT on specified dividends/Māori authority distributions (IR17P) form for RWT on specified dividends, or
- Resident withholding tax (IR4K) form for RWT on all other dividends.
If you're an agent or trustee making payments of RWT on dividends you need to use an IR17P for RWT on specified dividends.
If the due date falls on a weekend, or statutory or public holiday, the due date is the next working day.
If the amount of RWT you pay alters (say you change from a six-monthly payer to a monthly payer because your deductions of RWT are $500 or more every month), please contact us and let us know. We'll then send you IR15P forms to suit your new payment due dates.
If you don't receive your IR15P, you must still pay any RWT to us by the due date. Please attach a note showing:
- your IRD number
- the period the payment is for
- the amount of RWT deducted for the period
- the amount of the payment.
If you use the wrong form when paying your RWT, please contact us.
You must return each preprinted IR15P form, even if you have no RWT to pay for the period. In this case, please write "nil" on the form, sign it, and return it to us by the payment due date. If you don't do this we'll ask you for an explanation for the non-payment.
If you make either an underpayment or an overpayment when you have deducted RWT , or you have paid it in the wrong period, please please contact us so we can correct it.
If the investor's certificate of exemption is cancelled they must give written notice of the cancellation to any interest or dividend payers within five working days of receiving the notification.
A certificate may be cancelled if the investor:
- no longer meets the conditions it was issued for
- has provided misleading information in the application for the certificate
- does not meet the $2 million target (where the certificate was issued on the basis of estimated income of more than $2 million) or fails to supply satisfactory evidence of annual income
- fails to pay any income tax payable by the due date for payment.
You can make your payment:
- electronically through your bank (online, direct credit, automatic payment)
- by posting a cheque with your IR15P, IR17P or IR4K form in the envelope provided. Please make cheques payable to "Inland Revenue" and cross them "Not transferable". Do not send cash.
If you do not have a pre-addressed envelope, send your payment to:
PO Box 39050
Wellington Mail Centre
Lower Hutt 5045
We don't generally send receipts for RWT paid to us. However, you can ask us to send you an RWT statement of account any time you want one by contacting us.
Date published: 27 Jun 2014