Guidance on completing forms

Foreign trusts settlements and distributions schedule - IR900A

The IR900A form is used to disclose details of settlements and distributions. It is used in both the registration and annual return processes.

All persons recorded on the IR900A form must match persons whose details have been disclosed on the IR607A form. The names of the settlors or beneficiaries must match exactly.

On application to register an NZFT, the resident foreign trustee must use this form to record details of all historical settlements on the trust. Where all resident foreign trustees of a trust are natural persons who are not in the business of providing trustee services, lesser disclosure requirements may apply.

As part of the annual return process, the resident foreign trustee must record details of settlements and distributions made during the ‘return year’.

Payments: Foreign trust registration and annual return forms - IR607 and IR900

Trustees must make payments in accordance with the instructions on the reverse side of the IR607 and IR900 forms ensuring that these are made to the correct bank account. 

If the code and reference are not completed consistently with these instructions, we will be unable to determine whether payment has in fact been made and will have to contact you to request further information. To avoid this delay, please ensure the instructions relating to these fields are followed precisely.

Where a single payment is made in respect of multiple NZFTs, we require a schedule identifying the trusts and return years which the payment is intended to cover. This must be provided by email or by post with the annual returns.

The schedule might look like the following example.