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Interest in a foreign investment fund disclosure schedule (branch equivalent method) (IR440)

About this form

Branch Equivalent method has been repealed for income years starting on or after 1 July 2011. If you have overseas investments, including, shares in a foreign company, units in a foreign units trust or an entitlement to a benefit from a foreign superannuation scheme or a life policy, you may need to calculate your income from these investments for tax purposes.

PDF | 171kb | 4 pages

This form can be completed on-screen by typing content directly into the PDF document. Once you have completed the form it is important that you print it out as you will not be able to save the information you enter into the form.

When to use this form

Calculate here your FIF income or loss using the branch equivalent method only if the FIF is a company and you have sufficient information to calculate your income or loss according to New Zealand tax legislation.

This form includes a worksheet so you can calculate your foreign investment fund (FIF) income or loss. It must be completed by a New Zealand resident person with an interest in a FIF who elects to use the branch equivalent method, and a separate form for each FIF in which you held an interest should be completed.

The branch equivalent method has been repealed for income years starting on or after 1 July 2011.

What you will need

To successfully complete and submit this form you will need:

  • Your IRD number.
  • Full details of your foreign investment fund.
  • Details of income interest.
  • Details of what your FIF income or losses were offset against.
  • Evidence of tax paid or payable if in excess of NZ$10,000.

If your FIF interest is non-portfolio you can electronically make an accounting profit FIF disclosure by sending an email to us containing the following information:

  • details of the taxpayer filing the form, including name, IRD number, contact details
  • details of the FIF, including name, business activity, balance date, country of residence, address
  • nature of the taxpayer's FIF interest (ie, shares or units)
  • details of the taxpayer's income interest percentage (including details of the measurement basis used)
  • currency the financial statements were prepared in
  • calculation of FIF income or loss including conversion rate and NZD conversion calculation
  • details of any loss offset or loss to carry forward
  • details of any foreign tax credit available (including details of NZD conversion calculation).
  • A scanned copy of the audited financial statements of the FIF

If you do not have access to the internet you can complete the IR440 form to complete the disclosure.

After you finish

Please print, sign and attach the completed IR440 to your income tax return and send to your nearest Inland Revenue office.
You may wish to keep a record for your personal records.

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