Changes to Trust Filing Requirements

The rules have changed on the requirements for Trusts when filing income tax returns.

IR now need the following:

- Details of the settlors of the Trust
- The amount and nature of any settlement made during the year and the details of the person who made the settlement
- The details of any beneficiary who has received a distribution during the year, the amount and the nature of the distribution and any movements in the beneficiary account.

We should have all this information to enable us to complete your Trusts tax return and may require more information than previous years. Returns will also take longer to complete.

Please contact us if you have any questions around this.