Sale of the ANZ Securities service
Why has ANZ Securities decided to cease providing an equity
and bond trading service?
The sale is part of a strategic alliance between ANZ Bank New Zealand Limited
(ANZ) and First NZ Capital Securities Limited (FNZC). This alliance allows ANZ
to continue to simplify its business, while ensuring our customers can access a
high-quality equity and bond trading service with FNZC.
Who is FNZC?
FNZC is a leading full service, wholly locally owned, share broking, wealth
management and investment banking* firm. FNZC has been awarded INFINZ
Sharebroker of the Year for 8 of the last 10 years, including 2017.
FNZC has been active under various names for more than 50 years and has a
formal strategic alliance with Credit Suisse, a global financial institution, a
relationship that has existed for more than 20 years. You can find out more
about FNZC at www.fnzc.co.nz.
*FNZC is not a registered New Zealand bank
Are all of the services provided by ANZ Securities moving to
FNZC?
At the completion of the sale (‘Sale Date’), the online equity and bond trading
service, including any associated multi-currency bank account and custody
management currently offered by ANZ New Zealand Securities Limited (ANZ
Securities) will be provided by FNZC.
Who will notify me about Fixed Interest New Issues?
ANZ will continue to provide you with access to new fixed income investment
opportunities.
Who will notify me about Equity New Issues?
Following the Sale Date, FNZC will provide you with access to new equity
investment opportunities.
How does this affect other banking services provided to me by
ANZ?
The sale of the ANZ Securities service will have no impact on any other banking
services and products you have with ANZ, including KiwiSaver and managed
investment funds.
Do I need to do anything now?
You don’t need to do anything now.
We will provide you know with plenty of notice on any action you’ll need to
take to ensure a seamless transition across to the new FNZC service.
In the meantime you can continue using ANZ Securities just as you do now.
When will I know the Sale Date?
We anticipate that the sale will complete in the second half of 2018. It is
subject to closing steps and conditions.
We will contact you in due course with further details about the sale, as we
work towards ensuring minimal impact on your access to equity and bond markets.
What happens if I do not wish to move across to FNZC?
FNZC are committed to maintaining a high quality of service and will be using
the trading platform that you currently use now.
However if you do not wish to move across to FNZC, we’ll be in touch in advance
of Sale Date to outline how any funds you have on deposit or shares held in
custody, managed by ANZ Securities, can be returned to you.
Will my deposits or any credit exposure with FNZC be
guaranteed by ANZ?
No. ANZ and FNZC are entering into a strategic alliance to deliver
market-leading capital market solutions for our customers. Neither ANZ, nor any
member of the Australia and New Zealand Banking Group Limited stands behind or
guarantees these deposits or monies. FNZC (like ANZ Securities) is required
under NZX regulations to hold client monies in trust bank accounts. These
client trust bank accounts will continue to be held with ANZ.
Is ANZ entering into an alliance with Credit Suisse?
No. ANZ is entering into a strategic alliance with FNZC. It is not establishing
a formal relationship with any other entities FNZC has an existing alliance
with.
What happens if I am not currently an ANZ Securities
customer, but wish to open an ANZ Securities account?
New customers can continue to apply for the ANZ Securities service by
completing an account opening form:
https://onlinestore.anz.co.nz/get/securities
Where do I go if I need more information?
We will keep you informed over the next few months as we work towards the Sale
Date.
The ANZ Securities website
www.anzsecurities.co.nz will be kept updated with the latest
information on the sale. If you have any additional questions please email
anzs@anzsecurities.co.nz or call 0800 805 777.
General
Can I sign up for ANZ Securities if I don't bank with ANZ?
Individual and Joint applicants:
If you aren’t already an ANZ everyday account holder, an ANZ everyday account
will be opened for you through an appointment at your preferred ANZ branch as
part of the application process.
Companies, Trusts and Partnerships:
You’ll need to have an ANZ account to access this service. If you aren’t
already an ANZ account holder, simply visit
anz.co.nz or come into any branch to sign up
How do I sign onto the ANZ Securities website for the first
time?
Please call 0800 805 777 to activate your account and receive a temporary
password. The temporary password will allow you to login to the ANZ Securities
website where you can create a password of your own. Full sign on instructions
will be sent to you shortly after the account is opened.
What is the minimum outlay I require to start buying shares?
The minimum parcel of shares that can be registered is based on the particular
price band a stock falls under. A general guideline is $500.
How does your fee structure work?
Brokerage is charged on your Buy and Sell transactions. The brokerage varies
based on certain criteria on what class of security you trade, the channel that
you trade through (internet or phone) and how it is settled (credit or prepaid
through your Online Multi-Currency Account).
Click here for our rate sheet detailing our brokerage charges and fees.
How easy is it to buy and sell shares on the market?
Once you have completed and submitted an application form, Simple! You can
either phone our toll free number 0800 805 777 to place an order directly with
one of our Equity Dealers or with our simple to use DIY service on our website.
What sort of advice and information is available to me?
ANZ Securities offers a DIY service, no advice is given but general information
is provided, such as stock prices and company news information via our website.
How can I place an order with you?
Clients can choose to submit an order via our online ‘Self Trader’ service or
by calling our toll free dealing line 0800 805 777. Please have your client
account number ready for the Dealer.
When you contact us to place a sell order, please have your CSN and FIN ready.
ASX sell orders:
If your holdings are sponsored in CHESS by Share Investing Limited through ANZ
Securities, your order can be placed immediately.
If your Australian shares are Issuer Sponsored you will need to provide your
Shareholder Reference Number (SRN) on your Issuer Sponsored holding statement.
How do I know if my order has traded?
We forward a contract note to you or an authorised representative via email or
a hardcopy via post or fax.
Once my shares are sold when do I get paid?
For NZX transactions payment is made to your ANZ nominated account on the
Settlement Date specified in the Contract Note you will be provided.
For ASX transactions payment is made to your ANZ nominated account on the
Settlement Date specified in the Contract Note you will be provided.
Why does ANZ Securities restrict depth to clients who have
traded on the internet within the last 90 days?
The NZX charges broking firms royalty fees for live price and depth information
accessed by our clients. It is not cost effective to provide this data to all
clients. In order to recover some of the costs for providing clients with this
data, the depth function is only available for clients that have traded with us
in the last 90 days. Clients that have not traded with us in the last 90 days
do not have access to the depth function.
What are your brokerage rates?
Brokerage rates are available here.
What are your office hours?
Between 8.30am & 6.00pm, Monday to Friday.
What are the market trading hours?
NZX trading hours: 10.00am until 5.00pm, Monday to Friday except statutory
holidays. Orders can be taken from 9.00am onwards.
ASX trading hours: 10.00am until 4.00pm (EST Australian time), Monday to Friday
except statutory holidays.
Can I place an order when the market is closed?
Yes, you can place an order outside market hours but it will not be processed
until the opening of the next trading day.
How long does an order stay in the market?
NZX orders will expire after 4 weeks (3 weeks for ASX orders) or earlier if
there is a corporate action (if the stock goes ex-dividend or the stock goes
'ex' share consolidation or 'ex' share split).
What about partially traded orders?
NZX partially traded orders will also expire after 4 weeks, (ASX 3 weeks).
Clients will need to amend their price to complete the order or submit a new
order after expiration. If you place your order online you can receive email
notifications when your NZX or ASX order expires.
Are there minimum security holdings?
Minimum Holdings at any time shall, unless otherwise determined by NZX, are as
follows:
(a) In relation to equity securities (shares), a holding with a market price at
the relevant time of:
| Number of Units |
Price (both figures inclusive) |
| 2,000 |
Where the price does not exceed 25 cents |
| 1,000 |
Where the price exceeds 25 cents but does not exceed 50 cents |
| 500 |
Where the price exceeds 50 cents but does not exceed $1.00 |
| 200 |
Where the price exceeds $1.00 but does not exceed $2.00 |
| 100 |
Where the price exceeds $2.00 but does not exceed $5.00 |
| 50 |
Where the price exceeds $5.00 but does not exceed $10.00 |
| 25 |
Where the price exceeds $10.00 |
(b) In relation to rights to equity securities, the number
that would, upon exercise, convert to a minimum holdings as specified in (a).
(c) In relation to debt securities, a holdings with $5,000 or $10,000 principal
amount.
(d) In relation to any other securities, a holding with $1,000 face value.
ANZ Securities wishes to advise where the minimum holding requirement is met at
the time of order submission or order execution but, due to a price variation
or corporate action, is no longer met on the settlement date the trade will not
proceed.
Where this occurs ANZ Securities will contact you. At this point you will have
two options:
1. Purchase additional shares to raise the parcel above the minimum holding.
2. Reverse the transaction.
How can I settle international share trades?
If you have an Online Multi-Currency Account (OMCA) and there are sufficient
funds held in the relevant currency, we can settle your overseas trades (AU, US
and UK) in the currency of that country (AUS, USD or GBP). Otherwise, you will
need to settle in NZD (foreign currency conversion margin applies)
How can I contact the share registries?
It is your responsibility to inform the share registries of your new address,
as the share registry will only accept instructions from the registered
shareholder. You should be aware that if there are discrepancies between your
contact details and the address held by the share registries, there may be
delays in settling trades and/or paying funds to your bank account.
See the links below to view the relevant contact details for NZ and AU share
registries.
New Zealand: Computershare Investor Services
New Zealand: Link Market Services
Australia: Computershare Investor Services
Australia: Link Market Services
Australia:
Security Transfer Registrars
Australia:
Boardroom Ltd
Australia:
Advanced Share Registry Services
Note: Australian CHESS clients are not required to notify Australian share
registries of the new contact details - ANZ Securities will do this on your
behalf.
What is CHESS and why will I be sponsored by UBS Securities
Australia Limited ('UBS')?
CHESS is a computerised share sub-register system operated by the Australian
Stock Exchange. CHESS requires an ASX broker to act as Sponsor. UBS has been appointed as Sponsor for this purpose.
UBS Sponsorship carries with it the following benefits:
- You can trade or sell your shares immediately. The alternative is that you
cannot sell your shares unless you know your Shareholder Reference Number (SRN)
and it can take up to six weeks to get your SRN from some companies.
- You have only one Holder Identification Number (HIN) for all your shareholdings.
The alternative is that you are given a different SRN for each company. A
single HIN is easier to remember and, if you change address, you only need to
notify us raher than notifying every company that you hold shares in.
Important note: you must open a CHESS account if you want to buy/sell Australian
shares thorough ANZ Securities. You can download a CHESS application form from
the Download Forms page.
ANZ Securities does not direct credit funds in AU$, US$ or GBP to a foreign
currency account operated from a New Zealand based bank. Funds paid into a
foreign currency account are done so by electronic transfer on an individual
transaction basis. These are costly for you, due to the manual process required
and the bank charges that are applied during the transaction by the remitting,
transferring and receiving banks. All charges from these banks including
transaction and currency exchange charges; are passed onto you by deduction
from the amount transferred or from the sending and receiving accounts.
The following types of equity orders are permitted
Market Order
When submitting a market order, you are requesting that the buy/sell order be
placed at the best available offer/bid price at the time the order is entered
into the market. Please note, a market order does not necessarily mean
that the order will be traded in full.
Limit Order
A limit order is an order to buy or sell a stock at a specific price or better.
A buy limit sets the maximum price you are willing to pay, and a sell limit
sets the minimum price at which you are willing to sell. Limit orders ensure
that you pay or receive a specific price, but do not necessarily ensure that
your order will be executed. For example, you may wish to purchase a stock that
is currently quoted at a $2.04 bid, $2.07 offer, but do not want to pay more
than $2.02. If you place a limit order at $2.02, your order will only be filled
if the price drops to $2.02 or lower and there are no orders ahead of yours. If
it continues to trade at its current quote, your order will not trade.
Trigger Order
A trigger order is a conditional order (stop-loss order) that can be entered
for a sell order or for a buy order, and is only placed to market once the
trigger condition is met. A trigger order involves entering a price limit as
normal, with the addition of adding a trigger price. The limit, depending on
whether the order is a buy or a sell, is the price to sell no less than or buy
no more than, respectively. If a trigger price is entered, the order will not
be placed at the limit unless the security trades at a price that meets the
trigger condition - i.e. if the security trades at or below the trigger price
for a sell order, or at or above the trigger price for a buy order. For
example, to limit losses on a stock that you purchased at $5.00, you could
enter a sell order with a limit of $4.75 and a trigger of $4.80. Once the stock
trades at $4.80 or below, your order becomes a limit order to sell at $4.75. In
this example, note that if the stock next traded after the trigger condition
was met at a price below $4.75 the order would remain as a limit order.
Tax
The following is a general summary of the New Zealand tax implications based on
current tax legislation. The information below does not constitute the
provision of tax advice by ANZ Securities. If in doubt you should seek
professional tax advice in relation to your circumstances.
What do I have to pay tax on?
Distributions by companies by way of dividend are generally taxable income. The
amount of tax that is ultimately paid depends on your own individual tax
circumstances.
What types of credit are attached to/deducted from dividends?
Dividends received may have imputation credits and dividend withholding
payments attached or have had foreign and/or RWT deducted. These credits may be
used to reduce the amount of any residual tax that you could be required to pay
at the end of the financial year.
Why is Resident Withholding Tax deducted from dividends?
The Income Tax Act 2007 requires that RWT is deducted from any dividends paid
unless one of the exemptions apply. Any RWT deducted is remitted to the Inland
Revenue Department by the Issuer and is available to you as a tax credit to
offset against your residual tax liability in most circumstances.
Whether or not RWT is deducted, your overall tax liability remains the same.
However, the deduction of RWT reduces the amount of any residual tax that you
may be required to pay at the end of the financial year.
What if I have a Certificate of Exemption?
If you do have a valid RWT Certificate of Exemption for New Zealand, please
send a copy to: ANZ Securities, PO Box 1790, Wellington 6140, New Zealand. Once
the certificate is received, future distributions will not have any RWT
deducted unless you notify us of a change in the status of the certificate.
Please be aware that in providing a copy of your RWT Certificate of Exemption
as described above, you undertake to maintain a valid certificate of exemption
at all times and that you will notify in writing any change in this regard to
ANZ Securities.
At What Rate is Resident Withholding Tax Applied?
The RWT rate on dividends paid to New Zealand residents is 33%. The 33% rate
applies regardless of whether the client has supplied their Tax File (IRD)
number.
The amount of RWT deducted is reduced by the
imputation credits attached, dividend withholding payments made or
foreign withholding tax deducted overseas. No RWT is
required to be deducted where a dividend is fully imputed, has
full dividend withholding payment credits or the percentage of foreign
withholding tax deducted is greater than or equal to 33%.
What is Automatic Exchange of Information (AEOI)?
AEOI is the exchange of financial account information between Tax Authorities
in relevant countries. The law requires this information to be collected by
Financial Institutions around the world for reporting to Tax Authorities.
AEOI is made up of two information sharing frameworks:
-
The Foreign Account Tax Compliance Act (FATCA) which is a US framework to
identify US citizens and tax residents with accounts in foreign (non-US)
jurisdictions. This has been in place since 1 July 2014; and
-
The Common Reporting Standard (CRS) under which details of foreign tax resident
accounts are shared between participating Governments. Phased implementation of
this regime commenced 1 January 2016
For more information, see http://www.anz.com/aeoi
or www.ird.govt.nz/infoshare
What is a Controlling Person?
Controlling Person: A person who has 'control' over an entity includes any
natural person who exercises effective control over the entity, such as the
entity’s directors, senior managing officials, substantial shareholders, or
equivalent. Controlling persons could include:
-
Companies: shareholders with more than 25% ownership interest and directors
-
Partnerships: the partners
-
Incorporated societies and associations: the chair, treasurer, and secretary
-
Trusts: settlors, trustees, protectors, beneficiaries (or classes) regardless
of whether they exercise control over the trust’s activities.
Where anyone is an entity, you may also need to identify the controlling
persons of that entity.
The Foreign Account Tax Compliance Act (FATCA)
The following information does not constitute legal or tax advice. It was
collected from various sources generally believed to be reliable. ANZ New
Zealand Securities Limited (ANZ Securities) believes the information provided
here to be correct at the time of publication but disclaims responsibility as
to the accuracy and completeness of the information or reference to any
information. The information on these pages is subject to change without notice
and does not represent a commitment on the part of ANZ Securities. ANZ
Securities expressly disclaims liability for errors or omissions in this
information and materials.
What is FATCA?
The following is general information on the Foreign Account Tax Compliance Act
(FATCA).
FATCA is US legislation that places certain obligations on financial
institutions, like ANZ Securities, to identify customers who may have tax
obligations in the United States.
Where this is determined, we are obligated to report those customers and their
qualifying accounts to Inland Revenue (IR), who then pass the information to
the US Internal Revenue Service (IRS).
Who will FATCA impact?
FATCA applies to US persons who have foreign financial accounts, e.g. custodial
holdings or an Online Multi-Currency Account managed by ANZ Securities.
US persons are generally US citizens and/or permanent residents (e.g. green
card holders).
FATCA also affects US entities, such as US registered companies, other entities
controlled by US persons, and non-participating financial institutions (e.g. a
foreign financial institution that has not entered into an agreement with the
IRS and is subject to withholding under FATCA).
FATCA will also affect any applicants, and/or their associated parties, who do
not provide adequate information on the applicable application form(s) or in
answering follow-up questions.
We will need to ask all clients certain questions to help determine where US
tax obligations may be applicable.
Generally, this will be determined if:
-
You are a US resident for tax purposes or a US citizen
-
You are a company, trust or partnership with one or more US persons who have a
controlling interest (e.g. a director, trustee, beneficiary, settlor or
partner).
Which ANZ Securities products are captured under FATCA?
- Custodial holdings
- Online Multi-Currency Accounts (OMCA)
Note: if you do not have any tax obligations in the US, no reporting for FATCA
will be applicable. Likewise, if you hold a balance in USD in your OMCA and you
do not have US tax obligations, no reporting is typically applicable.
Where can I get advice about FATCA?
While ANZ Securities can provide factual information on New Zealand tax
regulations associated with FATCA, we are strictly prohibited from providing
tax advice.
For more information please visit www.ird.govt.nz
or www.irs.gov
If you require specific personal advice with regards to FATCA, e.g. to
determine if you are a “US resident for tax purposes”, we suggest that you
speak with a professional tax advisor.
Instructions for applicants with previous US connections
If you were formerly a US resident for tax purposes or a US citizen (a
Specified US person), or you had the right to be, we need you to send us more
information proving these US connections have been ended.
Likewise, if you have previously advised us that you are a Specified US person
we will continue to treat you as a Specified US person and your qualifying
accounts may be reported yearly to Inland Revenue, until we receive the
following information.
If you used to be a US citizen and/or you were born in the US
Please provide the following:
-
A completed and signed Certificate of Foreign Status of Beneficial Owner for
United States Tax Withholding and Reporting (W-8BEN) form, and
-
A copy of your Certificate of Loss of Nationality of the United States, or
complete and sign the “FATCA Reasonable Explanation” form, and
-
A copy of one of the following: the personal pages of your non-US passport;
your non-US citizenship certificate; or other government issued identification
which evidences your citizenship or nationality in a country outside of the
United States.
If you have never been a US citizen and you were not born in the US
Please provide the following:
-
A completed and signed Certificate of Foreign Status of Beneficial Owner for
United States Tax Withholding and Reporting (W-8BEN) form, and
-
A copy of any one of the following: a letter from the US Internal Revenue
Service, or the Department of Homeland Security, confirming that you have
complied with all U.S. revocation requirements from your previous “Green Card”
status”; your “sailing” or “departure” permit obtained by filing either Form
1040-C or Form 2016 with the IRS; or any other relevant documentation
supporting your US non-residency.
Assistance to complete the "US person" questions in an application form
IMPORTANT NOTE
If you are a US resident for tax purposes or a US person, your application will
be reviewed by ANZ Securities before it is processed. ANZ Securities reserves
the right to refuse an application – particularly an application from an
individual who is not a New Zealand tax resident.
ANZ Securities will contact you if your application is not approved.
Applicant
If you are a US resident for tax purposes or a US citizen, a W-9 form must be
completed in your name.
Please refer to the “W-9 and W-8BEN Forms” section below
Agent and/or Minor
A “Minor” is defined as an applicant who is under the age of 18 years.
An “Agent” is defined as the parent or guardian acting on behalf of a Minor.
Please refer to the list of requirements below:
- If the Agent is a US resident for tax purposes or a US citizen
- And the Minor is also a US resident for tax purposes or a US citizen
- Then a W-9 form must be completed in the name of the Agent
- If the Agent is a US resident for tax purposes or a US citizen
- But the Minor is not a US resident for tax purposes or a US citizen
- Then a W-9 form must be completed in the name of the Agent
- If the Agent is not a US resident for tax purposes or a US citizen
- But the Minor is a US resident for tax purposes or a US citizen
- Then a W-8BEN form must be completed in the name of the Agent
Where there are two Agents acting on behalf of a Minor, these requirements
apply to BOTH Agents.
Please refer to the “W-9 and W-8BEN Forms” section below.
Authorised Representatives
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen but you, as the applicant, are not a US
resident for tax purposes or a US citizen, a W-8BEN form must be completed in
your name.
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen, and you, as the applicant, are also a US tax
resident or US citizen, the Authorised Representative does not need to complete
any additional paper work because you have already completed the W-9 form.
Please refer to the “W-9 and W-8BEN Forms” section below.
Power of Attorney
If the Power of Attorney is a US resident for tax purposes or a US citizen but
you, as the applicant, are not a US resident for tax purposes or a US citizen,
a W-8 BEN form must be completed in your name and a W-9 must be completed in
the name of the Power of Attorney.
If the Power of Attorney is a US resident for tax purposes or a US citizen and
you, as the applicant, are also a US resident for tax purposes or a US citizen,
a W-9 form must be completed in your name and a W-9 must be completed in the
name of the Power of Attorney.
Please refer to the “W-9 and W-8BEN Forms” section below.
W-9 and W-8BEN Forms
The W-9 form allows the applicant to provide their Taxpayer Identification
Number (TIN) for reporting purposes. ANZ Securities requires all US Persons to
complete a W-9 form so that their associated accounts may be reported to Inland
Revenue using the appropriate TINs.
The W-8BEN form is used to certify that the account holder is a non-US person.
Important notes:
-
We cannot accept a "W" form that has been corrected by hand or corrective
substances (twink, white-out etc). If any corrections need to be made to your
form, you must start over and complete a new copy of the form.
-
When completing a W-9 form, please ensure you write the date as Month DD YYYY
(e.g. January 1 2000) to avoid confusion between American and New Zealand date
formatting.
-
When completing a W-9 form, if you have changed your surname, for instance, due
to marriage without informing the Social Security Administration of the name
change, you should enter your first name, the surname name shown on your social
security card and your new surname. You should then circle the parts of your
name that are associated with your social security number (your first name and
your previous surname).
-
While revocation of US citizenship documents provide useful insights into your
current status, we still need a W-8BEN to be completed by those who have
previous connections to the US.
-
We will not accept a "W" form that has been signed and dated more than 3 months
prior to the date that the details of the form are recorded in our system.
IMPORTANT NOTE
If you are a US resident for tax purposes or a US citizen, your application
will be reviewed by ANZ Securities before it is processed. ANZ Securities
reserves the right to refuse an application – particularly an application from
an individual who is not a New Zealand tax resident..
ANZ Securities will contact you if your application is not approved.
Applicants
If an applicant is a US resident for tax purposes or a US citizen, a W-9 form
must be completed in their name (one form per person).
Important note: If only one joint applicant is a US resident for tax
purposes or a US citizen, the total value of any funds held in an OMCA
and/or the
total
value
of any custodial holdings are reportable. For example, if Mr Smith is a US
citizen but Mrs Smith is not a US citizen, the total value of the OMCA and the
total value of any custodial holdings (rather than half) will be reported under
Mr Smith’s US tax obligations.
Please refer to the “W-9 and W-8BEN Forms” section below.
Authorised Representatives
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen but you, as the applicant, are not a US tax
resident or a US citizen, a W-8BEN form must be completed in the name of the
applicants.
If you have nominated an Authorised Representative and he/she is a US tax
resident or a US citizen, and you, as the applicant, are also a US tax resident
or US citizen, the Authorised Representative does not need to complete any
additional paper work because all of the applicants have already completed the
W-9 form.
Please refer to the “W-9 and W-8BEN Forms” section below.
W-9 and W-8BEN Forms
The W-9 form allows the applicant to provide their Taxpayer Identification
Number (TIN) for reporting purposes. ANZ Securities requires all US Persons to
complete a W-9 form so that their associated accounts may be reported to Inland
Revenue using the appropriate TINs.
The W-8BEN form is used to certify that the account holder is a non-US person.
Important notes:
-
We cannot accept a "W" form that has been corrected by hand or corrective
substances (twink, white-out etc).
-
When completing a W-9 form, please ensure you write the date as Month DD YYYY
(e.g. January 1 2000) to avoid confusion between American and New Zealand date
formatting.
-
When completing a W-9 form, if you have changed your surname, for instance, due
to marriage without informing the Social Security Administration of the name
change, you should enter your first name, the surname name shown on your social
security card and your new surname. You should then circle the parts of your
name that are associated with your social security number (your first name and
your previous surname).
-
While revocation of US citizenship documents provide useful insights into your
current status, we still need a W-8BEN to be completed by those who have
previous connections to the US.
-
We will not accept a "W" form that has been signed and dated more than 3 months
prior to the date that the details of the form are recorded in our system.
Country of Establishment and Country of Primary Place of Business
If the Country of Establishment and/or Country of Primary Place of Business is
not New Zealand, the application will be reviewed by ANZ Securities before it
is processed. ANZ Securities reserves the right to refuse an application –
particularly an application from an entity that is not a New Zealand tax
resident.
ANZ Securities will contact you if the application is not approved.
Financial Institution Worksheet
In order to answer Question 3 on the “Company” application form, you must refer
to the Financial Institution Worksheet.
If you have answered “Yes” to any of the questions on the Financial Institution
Worksheet, then your company is a Financial Institution. However, if you have
reason to conclude that your entity is not a Financial Institution (e.g. you
have obtained professional advice to that effect) then you should complete
Question 3 (Section 2) of the application form accordingly.
Director or Beneficial Owner who is an individual
If an associated individual (e.g. a Company Director or a Beneficial Owner) is
a US resident for tax purposes or a US citizen, a W-8BEN-E form must be
completed in the name of the Company.
However, you do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8BEN-E FORMS” section below.
Beneficial Owner that is an entity
If a Beneficial Owner is an entity, you must download and complete the
appropriate Supplement Form for that Entity.
Authorised Representative
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen, a W-8BEN-E form must be completed in the name
of the Company.
However, you do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8BEN-E FORMS” section below.
W-8BEN-E Forms
The W-8BEN-E form is used to certify that the company was not established in
the US but has controlling persons who are Specified US persons.
Important notes:
-
We cannot accept a “W” form that has been corrected by hand or corrective
substances (twink, white-out etc). If any corrections need to be made to your
form, you must start over and complete a new copy of the form.
-
We will not accept a "W" form that has been signed and dated more than 3 months
prior to the date that the details of the form are recorded in our system.
Country of Establishment and Country of Primary Place of Business
If the Country of Establishment and/or Country of Primary Place of Business is
not New Zealand, the application will be reviewed by ANZ Securities before it
is processed. ANZ Securities reserves the right to refuse an application –
particularly an application from an entity that is not a New Zealand tax
resident.
ANZ Securities will contact you if the application is not approved.
Financial Institution Worksheet
In order to answer Question 3 on the “Trust” application form, you must refer
to the Financial Institution Worksheet.
If you have answered “Yes” to any of the questions on the Financial Institution
Worksheet, then your company is a Financial Institution. However, if you have
reason to conclude that your entity is not a Financial Institution (e.g. you
have obtained professional advice to that effect) then you should complete
Question 3 (Section 2) of the application form accordingly.
Trustee or Beneficiary who is an individual
If an associated individual (e.g. a Trustee or Beneficiary) is a US resident
for tax purposes or a US citizen, a W-8BEN-E form must be completed in the name
of the Trust. This also includes the Settlor(s) of your Trust.
However, you do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8BEN-E FORMS” section below.
Trustee that is an entity
If a Trustee is an entity, you must download and complete the appropriate
Supplement Form for that Entity.
Beneficiary that is an entity
If a Beneficiary is an entity with a Country of Establishment that is New
Zealand you do not need to provide further details.
If a Beneficiary is an entity with a Country of Establishment that is not New
Zealand, a W-8BEN-E form must be completed in the name of the Trust.
However, you do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8BEN-E FORMS” section below.
Authorised Representative
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen, a W-8BEN-E form must be completed in the name
of the Trust.
You do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8BEN-E FORMS” section below.
W-8BEN-E Forms
The W-8BEN-E form is used to certify that the company was not established in
the US but has controlling persons who are Specified US persons.
Important notes:
-
We cannot accept a “W” form that has been corrected by hand or corrective
substances (twink, white-out etc). If any corrections need to be made to your
form, you must start over and complete a new copy of the form.
-
We will not accept a "W" form that has been signed and dated more than 3 months
prior to the date that the details of the form are recorded in our system.
Country of Establishment and Country of Primary Place of Business
If the Country of Establishment and/or Country of Primary Place of Business is
not New Zealand, the application will be reviewed by ANZ Securities before it
is processed. ANZ Securities reserves the right to refuse an application –
particularly an application from an entity that is not a New Zealand tax
resident.
ANZ Securities will contact you if the application is not approved.
Financial Institution Worksheet
In order to answer Question 3 on the “Partnership” application form, you must
download and complete a copy of the Financial Institution Worksheet.
If you have answered “Yes” to any of the questions on the Financial Institution
Worksheet, then your company is a Financial Institution. However, if you have
reason to conclude that your entity is not a Financial Institution (e.g. you
have obtained professional advice to that effect) then you should complete
Question 3 (Section 2) of the application form accordingly.
Partner who is an individual
If a Partner is a US resident for tax purposes or a US citizen, a W-9 form must
be completed in the name of that Partner (one form per Partner). In addition,
the remaining non-US partners must complete a W-8BEN form (one form per
Partner). Lastly, a W-8IMY form must be completed in the name of the
Partnership.
You do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8 and W-9 Forms” section below.
Partner that is an entity
If a Partner is an entity, you must download and complete the appropriate
Supplement Form for that Entity.
Authorised Representative
If you have nominated an Authorised Representative and he/she is a US resident
for tax purposes or a US citizen, a W-9 form must be completed in the name of
the Authorised Representative. In addition, all of the Partners must complete a
W-8BEN form (one form per Partner). Lastly, a W-8IMY form must be completed in
the name of the Partnership.
You do not need to provide a W-8BEN-E if:
- You have answered “Yes” to Question 3 or “Yes” to Question 3b, or
- You have answered “No” to Question 4a and Question 4b.
Please refer to the “W-8 and W-9 Forms” section below.
W-8 and W-9 Forms
The W-9 form allows the applicant to provide their Taxpayer Identification
Number (TIN) for reporting purposes. ANZ Securities requires all US Persons to
complete a W-9 form so that their associated accounts may be reported to Inland
Revenue using the appropriate TINs.
The W-8BEN form is used to certify that the account holder is a non-US person.
The W-8IMY form is used to certify that the Partnership is not the beneficial
owner of the accounts and passes proceeds on to any individual beneficial
owners.
Important notes:
-
We cannot accept a “W” form that has been corrected by hand or corrective
substances (twink, white-out etc). If any corrections need to be made to your
form, you must start over and complete a new copy of the form.
-
When completing a W-9 form, please ensure you write the date as Month DD YYYY
(e.g. January 1 2000) to avoid confusion between American and New Zealand date
formatting.
-
When completing a W-9 form, if you have changed your surname, for instance, due
to marriage without informing the Social Security Administration of the name
change, you should enter your first name, the surname shown on your social
security card and your new surname. You should then circle the parts of your
name that are associated with your social security number (your first name and
your previous surname).
-
We will not accept a "W" form that has been signed and dated more than 3 months
prior to the date that the details of the form are recorded in our system.
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