About this Guide

This form is intended to provide operational advice in the New Zealand context, for financial institutions that are implementing the CRS, and others who may have CRS (and FATCA) obligations.

When to use this guide

People and entities holding, and in certain circumstances controlling, financial accounts with Reporting NZFIs have obligations to provide documentation and other information to help these Reporting NZFIs carry out their CRS due diligence and reporting obligations.

what you will need

In broad terms, the CRS will require Reporting NZFIs from 1 July 2017 to:

1. Carry out CRS due diligence.
2. Report this information annually to Inland Revenue
3. Report prescribed information annually to Inland Revenue about certain accounts that the CRS refers to as ‘undocumented accounts’

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