To meet the new trust disclosure requirements you may need to ask your clients to provide you more information – for example details of historic settlements, IRD numbers, dates of birth or Tax Information Numbers (TINs) for their overseas jurisdiction.
We wrote to all trusts in late April 2022 to advise of the new disclosure requirements. The ‘Annual reporting changes for trusts’ letters redirected to you instead of issuing to your client if you had mail redirect turned on. You may wish to pass a copy on to your client if you have not already, as they may not be aware of the disclosure changes. You can find copies of the letter in your clients' myIR or you can access them in bulk from the All client mail service in the Intermediary centre.
If your client has not provided the information you need to fully complete their Trust income tax return or the Settlor/Beneficiary attachments, you can ask us to issue an L letter reminding your client to provide information to you. You can issue these reminder letters in myIR from the Intermediary centre up until 15 February 2023.
A copy of this letter can be found on page 8 of the IR9XA agreement.