Interest in a foreign investment fund disclosure schedule for individuals and closely-held entities (comparative value method)

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Interest in a foreign investment fund disclosure schedule for individuals and closely-held entities (comparative value method)

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Interest in a foreign investment fund disclosure schedule for individuals and closely-held entities (comparative value method)

Form Number: IR448 / Form Code: IR448

About this Form

This form enables a person that has calculated foreign investment fund income or loss using the comparative value method to disclose the required information about their interests.

When to use this form

Use this form to make a disclosure if:

  • you used the comparative value method to calculate FIF income or loss, and
  • you are a New Zealand resident individual, trustee of a trust, a company or other entity that is not a widely-held company, widely-held group investment fund, widely-held superannuation fund or a portfolio investment entity, and
  • you have a FIF incorporated in the case of a foreign company, or in all other cases is tax resident, in a country with which New Zealand does not have a double tax agreement in force as at 31 March 2008

Note the FIF income or loss is still required to be included in your income tax return, the exemption is for reporting of the specific details (ie completing this disclosure form).

There is some overlap between the disclosure forms: if you have an interest of 10% or more in a foreign company (regardless of its residence) use either the IR477 or IR479 forms instead of this form to disclose the interest.

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