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Tax Administration Act 1994

Foreign account information-sharing agreements - FATCA agreement

185J: Obligations related to FATCA agreement: information for third parties

You could also call this:

"Following the FATCA agreement: sharing information with others"

Illustration for Tax Administration Act 1994

You must get and give information to a foreign authority if the FATCA agreement says you have to. You have to do this if the foreign authority asks you for the information and it is allowed under the agreement. You also have to get and give information to a third party if the agreement says you can. You can give information to a third party if you are allowed to do so under the agreement. For example, if you choose to give certain information to a third party, section 185F says you can make that choice. Then you have to give the information to the third party according to your choice and the agreement. You must get and give the information according to the agreement and any regulations made by the Governor-General under section 224.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6191606.

Topics:
Money and consumer rights > Taxes
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185I: Obligations related to FATCA agreement: information for NZ competent authority, or

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185K: Information provided in form prescribed by Commissioner, or

"Give information in the right format chosen by the Commissioner"

Part 11BForeign account information-sharing agreements
FATCA agreement

185JObligations related to FATCA agreement: information for third parties

  1. A person, as described in the FATCA agreement (the agreement), must obtain and provide information to a foreign competent authority if that information and its providing and obtaining is described or contemplated in the agreement in relation to the person, and it is validly requested from the person by the foreign competent authority.

  2. A person, as described in the agreement, must obtain and provide information to a third party if that information and its providing and obtaining is described or contemplated in the agreement in relation to the person, and the person is authorised to obtain and provide it to the third party (for example: an agreement may contemplate a choice to provide certain information to a third party. If the person chooses to provide that information, section 185F applies to authorise that choice. The person would then have to provide that information to the third party in accordance with their choice and the agreement).

  3. Information described in subsections (1) and (2) must be obtained and provided in accordance with—

  4. the agreement; and
    1. regulations made by Order in Council by the Governor-General for the purposes of this Part under section 224.

      Notes
      • Section 185J: inserted, on , by section 182 of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 (2014 No 39).
      • Section 185J heading: amended, on , by section 26(1) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).
      • Section 185J(1): amended, on , by section 26(2) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).