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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).
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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.
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.
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.
Please print, sign and post the completed form to your nearest Inland Revenue office.
You may wish to keep a copy of this form for your records.