TFN withholding for closely held trusts

This information is for trustees and beneficiaries of closely held trusts, including family trusts.

Beneficiaries need to quote their tax file number (TFN) to the trustee to avoid having amounts withheld from their payments or unpaid entitlements.

If a beneficiary quotes their TFN, the trustee must tell us the TFN and other details of the beneficiary.

If a beneficiary doesn't quote their TFN before a payment or entitlement occurs, the trustee must withhold from the payment or entitlement, pay the withheld amount to us, and lodge an annual report with details of all withheld amounts.

Find out about

• Who the rules apply to
• What beneficiaries need to do
• What trustees need to do