Investment body responsibilites

What are your reporting obligations as an investment body?

As an investment body, you are obliged to:

• accept and record tax file number (TFN) or Australian business number (ABN) quotations, and claims for exemption from quoting
   
• report to the ATO quotations of TFNs/ABNs made in a given quarter in a quarterly TFN/ABN report
   
• correct TFNs/ABNs and/or action investor 'deemed not to have quoted' cases on advice from the ATO
   
• withhold and pay amounts to the ATO from investment income payments made to investors who have chosen not to quote either their TFN, ABN or claim an exemption, and
   
• provide to the ATO an Annual investment income report (AIIR).

In what circumstances is an AIIR required?

An AIIR is required:

• if the total amount of income paid or credited to the investment is $1 or more and the total number of investments accepted by the investment body during the year is 10 or more, or
   
• in respect of any investment from which an amount has been withheld because a tax file number, Australian business number or exemption was not quoted, or where non-resident withholding* has occurred.

Note: In the case of a company which has accepted less than 10 investments and has paid $1 or more in income, a Dividends and interest schedule 2012 (NAT 8030) is required.

* Non-resident income other than investment income (for example, royalties) should be reported in the PAYG withholding from interest, dividend and royalty payments paid to non-residents - annual report.

More information

Phone us on 1800 072 681 or send an email enquiry to the ATO, if you would like to:

• receive further information about the Annual investment income report
• update contact details for an existing investment body
• register the details of a new investment body
• ask a question.