Gather your information
For the settlement or distribution, you'll need to know the:
- tax year for which you're making the correction
- settlor or beneficiary's name
- transaction date
- type of settlement or distribution
If you're correcting the amount of a settlement or distribution in a tax year, your financial statements may also be incorrect. If so, you'll need to send us corrected financial statements while still meeting the minimum standards.
Correct past returns in myIR
From the homepage in your myIR account, select:
- your 'NZ foreign trust' account
- the 'Correspondence' tab
- 'Send a message' in the 'I want to...' section
- 'Update trust registration' for the message category, which includes updating historical settlements or distributions.
Enter the details for the settlement or distribution
Upload corrected financial statements
Attach any corrected financial statements that you need to provide.
Review and submit
Make sure you've:
- entered all of the correct details for the settlements or distributions
- uploaded all supporting documents.
Log in to myIR
What happens next
Within the next 15 working days, we'll contact you either:
- with a response confirming that we've updated the NZFT's details as you've provided
- for more information.
If you want to use a paper form to correct past returns, you can send us an updated New Zealand foreign trust settlements and distributions schedule - IR900A form.