Banking
New Zealand — Banking: Required Documents
For a New Zealand bank account, banks typically ask for two forms of ID, such as a passport and a driver licence or birth certificate, and proof of address, such as a letter from a government agency or a utility company. Inland Revenue's offshore IRD number application needs photo ID, proof of your current address, proof of the reason you are applying (for example working or buying property in New Zealand) and your overseas tax identification number, and a fully functional New Zealand bank account or a verified IR742 form if you have none. Proof of a fully functional account can be a bank statement showing your name, account number and at least one deposit and one withdrawal, or a bank letter confirming the account is active.
Why this matters
A relocating person should care about this topic as it affects their ability to access and manage their financial resources in the new country.
Key facts
- Banks typically ask for two forms of ID and proof of address.
- The offshore IRD number application needs photo ID, proof of address, proof of the reason for applying and your overseas tax identification number.
- IRD also asks for a fully functional NZ bank account; proof is a bank statement with a deposit and a withdrawal, or a bank letter confirming the account is active.
- Without a NZ bank account, the IR742 form can be verified by AA, NZ Post or IRD.
Steps
- Gather required documents — Assemble the necessary documents, including proof of identity, address, and income, as specified by the bank.
Common mistakes
- Using an overseas account as proof — IRD requires a New Zealand bank account to be fully functional.