Providing your resident withholding tax (RWT) rate and IRD number
You should provide us with your resident withholding tax (RWT) rate and your IRD number when you open an account with us.
For joint accounts, you should provide us with the RWT rate and the IRD number for both account holders. If the account holders have different RWT rates, then RWT will be deducted at the higher rate.
You should also let us know when your RWT rate changes. Selecting a low RWT rate may mean you have an end of year tax liability and if you don’t provide us with your IRD number, we are required to deduct RWT at the non-declaration rate of 45%.
Letting us know your RWT rate or IRD number
You can provide us with your RWT rate and IRD number in several ways:
- when you open an account with us
- in Internet Banking – select ‘Settings’ and then ‘Edit my details’ or ‘Edit joint details’ if applicable
- in branch
- by calling us on 0800 275 269.
Important: The information on this page is general in nature and does not constitute specific tax advice to any person. To the extent that any such information constitutes financial advice, it does not take into account any person's particular financial situation or goals. We recommend you obtain independent tax advice for your own circumstances. BNZ does not accept any liability for the use of, or reliance on, this information.