Tax Administration Act 1994

Foreign account information-sharing agreements - Foreign account information-sharing agreements generally

185Q: Requirements and penalties for entities that are not persons

You could also call this:

"Rules and penalties for groups, like trusts or partnerships, that aren't individuals"

Illustration for Tax Administration Act 1994

You need to know what happens when a rule or penalty applies to an entity that is not a person. If a rule from the FATCA agreement or CRS applied standard, or a related provision in this Act, says an entity that is not a person must do something or pay a penalty, it is like the rule is saying each person involved with the entity must do it or pay. This applies to entities like trusts, partnerships, joint ventures, or other relationships between people or entities. You also need to know what happens when information must be given to an entity that is not a person. If a rule from the FATCA agreement or CRS applied standard, or a related provision in this Act, says information must be given to an entity that is not a person, you must give the information to the people involved with the entity. This is based on who is involved with the entity, like the trustees of a trust or the partners of a partnership, as outlined in the rules for each type of entity.

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This page was last updated on 28 November 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM7330410.

Topics:

Money and consumer rights > TaxesBusiness > Industry rules

185P: Requirements for persons to provide information to financial institution, or

"Telling banks the information they need about your account"

185R: Foreign account information-sharing agreements: anti-avoidance, or

"Stopping people from avoiding rules about sharing foreign account information"

Part 11BForeign account information-sharing agreements
Foreign account information-sharing agreements generally

185QRequirements and penalties for entities that are not persons

If the FATCA agreement or CRS applied standard, or a related provision in this Act, is expressed as imposing a requirement or penalty on an entity that is not a person, the meeting of the requirement or the payment of the penalty for the entity is treated as being a joint and several requirement,—
if the entity is a trust, for each trustee:
if the entity is a partnership, for each partner:
if the entity is a joint venture, for each member of the joint venture:
if the entity is a legal relationship between persons or entities that is not referred to in paragraphs (a) to (c), for each person or entity in the relationship.

If the FATCA agreement or CRS applied standard, or a related provision in this Act is expressed as requiring information to be provided to an entity that is not a person, the requirement is treated as being to provide the information to the persons given for the entity by subsection (1)(a) to (d).

Notes

Section 185Q: inserted, on 1 July 2017 (applying for arrangements affecting the requirements of a person under this Part for a reporting period ending after 31 March 2017), by section 28(1) of the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Act 2017 (2017 No 3).