About this Form

The term foreign loss is used to describe attributed foreign losses from a controlled foreign company (CFC) and/or attributed foreign investment fund (FIF) losses. A CFC is a foreign company controlled by five or fewer New Zealand resident shareholders. An FIF is a foreign entity in which a New Zealand resident has an interest. Complete this form to elect to retain foreign losses or revoke an election made previously to retain foreign losses. For more information please refer to the Qualifying companies, a guide to tax law (IR435).

When to use this Form

Complete this form when you wish to either elect to retain you foreign losses or if you have previously elected to retain foreign losses and you now want to revoke that election. An election or revocation will apply from the beginning of the income year that we receive the notification unless a later year is specified.

What you will need

To successfully complete and submit this form you will need the company’s IRD number as well as shareholder’s names, IRD numbers and signatures.

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