• KiwiSaver scheme payment statement and instructions for APRA-regulated funds

    Introduction

    The Trans-Tasman superannuation portability arrangement is intended to help Australian and New Zealand citizens who emigrate between the two countries with the intention of staying indefinitely or permanently, to take their retirement savings with them when they move across the Tasman.

    For more information about the Trans-Tasman portability arrangement visit Ready for super reform - a guide for APRA-regulated super funds.

    About this statement

    Complying Australian super funds (other than defined benefit funds, unfunded public sector schemes and self-managed superannuation funds) should complete the KiwiSaver scheme payment statement (NAT 74638) or a similar paper form that collects the same information) when they pay a member’s superannuation benefits to a KiwiSaver scheme in New Zealand.

    Download a copy of the statement

    You can download the KiwiSaver scheme payment statement (NAT 74638, PDF 352KB)

    Instructions

    These instructions will help complying Australian super funds (other than defined benefit funds, unfunded public sector schemes and selfmanaged super funds) to complete the KiwiSaver scheme payment statement.

    A completed statement authorises a complying Australian Prudential Regulation Authority (APRA) regulated super fund to pay the balance of a member’s super interest to a KiwiSaver scheme under the TransTasman portability arrangement. You must pay the full super interest held by the member (other than defined benefit amounts).

    Defined benefit funds

    Australian sourced retirement savings from an Australian untaxed source, or a defined benefit interest in an Australian defined benefit scheme, cannot be transferred to a New Zealand KiwiSaver scheme.

    Information for your members

    You must send a copy of the completed statement to the member. Members must:

    • keep their copy of this completed statement indefinitely for their records
    • in the event they decide to return to Australia in the future and bring their super savings with them, provide copies of their super records, including this statement, to their chosen APRA fund.

    Completing the statement

    The Australian super fund must complete all sections in this statement.

    Section A: Receiving KiwiSaver scheme details

    Provide the following details regarding the KiwiSaver scheme that the super interest is being paid to:

    1 Name of KiwiSaver scheme

    2 Postal address

    3a KiwiSaver registration number

    3b Member Inland Revenue Department (IRD) number

    3c Member KiwiSaver account number.

    KiwiSaver registration numbers can be confirmed by checking the New Zealand Financial Markets Authority website at KiwiSaver scheme providerExternal Link.

    Payment to a KiwiSaver scheme cannot be made without this information.

    Section B: Member details

    Provide the following member details for the super interest you are paying to the KiwiSaver scheme:

    4 Full name

    5 Last known Australian address

    6 New Zealand address

    7 Date of birth

    8 Sex

    9 Daytime phone number (including country / area code)

    10 Email address (if known).

    Section C: Payment transaction details

    Provide the source components at label 11. You will need to include the Australian sourced amounts (A and B) and, where applicable, the returning New Zealand sourced amount (C).

    Any restricted nonpreserved amount and unrestricted nonpreserved amount held by the member must be identified on this statement. If the member later returns to Australia, any returning nonpreserved Australian will be treated as preserved benefits.

    The sum of components A + B + C must be equal to the total payment at label 12. The amount of the total payment must be equal to the amount being paid to the KiwiSaver scheme.

    Section D: Australian superannuation fund

    As the payer of a super interest to a KiwiSaver scheme, provide your:

    13 Fund ABN

    14 Fund name

    15 Contact name

    16 Email address

    17 Daytime phone number.

    Section E: Declaration

    Complete the declaration that applies to you. Print your full name, and sign and date the declaration.

    You are required to keep a copy of this statement in your records for five years.

    Where to send the completed statement

    Do not send the completed statement to the ATO.

    You must:

    • send this statement to the receiving KiwiSaver scheme in section A within seven days of paying the benefit amount
    • provide a copy of this statement to the member identified in section B within 30 days of paying the benefits to their KiwiSaver scheme.
    • keep a copy in your records for five years.

    If you do not send the statement to the KiwiSaver scheme or to your member within the required number of days, we may charge you an administrative penalty. Penalties range from 1 to 25 penalty units (currently $180 per penalty unit), depending on the size of your fund and how long the statement is overdue.

    Text Loss checked16msdetailsredo Roundtrip checked544msdetailsredo Version: 2015-10-22 "Salvador" Copyright © 1999-2013 Allette (Australia)

      Last modified: 26 Aug 2015QC 35369