Treasury Laws Amendment (KiwiSaver Scheme) Regulations 2021 (F2021L01616)

Schedule 1   Amendments

Superannuation (Unclaimed Money and Lost Members) Regulations 2019

9   After Part 7

Insert:

Part 8 - Payment of amounts to KiwiSaver scheme provider

20 Payment of amounts to KiwiSaver scheme provider

(1) For the purposes of subparagraphs 17(2)(aa)(iii), 20H(2)(ba), 20QF(2)(aa)(iii), 21E(2)(aa)(iii) and 24G(2)(aa)(iii) of the Act, this section prescribes the matters that must be satisfied for the Commissioner to make a payment of an amount in respect of a person to a KiwiSaver scheme provider.

(2) The following matters are prescribed:

(a) the person has emigrated permanently to New Zealand;

(b) the person has given the Commissioner proof of residence at an address in New Zealand following the person's emigration to New Zealand;

(c) the person has opened a KiwiSaver scheme account;

(d) the Commissioner has been given sufficient details of the KiwiSaver scheme and the account number to which the amount is to be paid;

(e) the KiwiSaver scheme provider will accept the amount;

(f) the taxable component of any superannuation benefit that is paid by the Commissioner would not consist of, or include, an amount that is an element untaxed in the fund.