For a New Zealand foreign trust (NZFT) to remain eligible for its tax exemption on foreign-sourced income, the contact trustee or tax agent must:
- complete the NZFT's return each tax year
- attach the NZFT's financial statements that comply with the minimum standards
- pay the fee for annual returns, if required.
New Zealand foreign trust annual return - IR900
Submit an IR900 for each tax year after registration.
New Zealand foreign trust settlements and distributions schedule - IR900A
You'll need to let us know the details for any distributions from or settlements to the trust, including the:
- type of transaction - settlement or distribution
- full name of the person receiving it - to be eligible, you'll need to disclose them as a settlor or beneficiary if they are not currently listed as such
- type of settlement or distribution - cash, services, land, shares, financial arrangements or other
- date paid or credited
- currency
- amount in the selected currency.
New Zealand foreign trust connected person schedule - IR607A
For a tax year, you'll need to include full details of any:
- beneficiaries receiving distributions
- new settlors making settlements on the trust, if any.
You'll need to make a declaration that the NZFT's connected persons have agreed to provide us with certain information.
Financial statements for the return year
These must comply with the minimum standards for financial statements.
Minimum standards for financial statements
Fee payment
The fee for annual returns is $50, GST included.
You will not need to pay this fee if all of the trustees are:
- natural persons.
- not professional trustees.
Make your payment to us through internet banking, filling in the payment details accurately.
Paying fees for New Zealand foreign trusts
Send us the forms and financial statements
You can email the forms and financial statements to:
Or, you can post them to:
International Revenue Strategy
Inland Revenue
PO Box 2198
Wellington 6140
What happens next
We'll process your request within 10 working days of receiving it. If we need more information, we'll contact you.
Your responsibilities
You'll need to make sure that the financial statements you submit comply with the minimum standards.
Minimum standards for financial statements
Non-compliance with the disclosure rules can result in the trustee losing their access to the foreign sourced income exemption for the relevant income year and/or being charged the Foreign Exemption civil penalty (of up to $1,000) for failure to comply.