In 2023 IRD introduced a new form known as IR 1261. This form requires that any overseas income is split by jurisdiction and needs to be submitted if you’re filing an IR3 return that includes overseas income.
If you complete your return online and include overseas income you’ll be asked for these new details automatically - you don’t need to attach anything additional.
How can I check the jurisdiction of my investments?
The jurisdiction will usually be USA for investments on Hatch, however there are exceptions - e.g. if you hold any ADR or Foreign Private Issue shares.
If you’re not sure about the jurisdiction for any of your investments, you can check online:
Click on the investor centre centre link on the investment market info page in Hatch, or
Go the SEC search tool & enter the name or ticker symbol of the company you’re interested in
At the top of the page you can see company information (you may need to expand this section) including the state of incorporation/location
Where the company is a US company this will generally be a 2 letter state code, where it is a non-US company it will be a country name
Example - Spotify:
Search for the company name using the SEC search tool - suggested results will display as you type.
After selecting a result you will be able to see details for that company, not that you may need to expand the Company information heading.
Why is this being collected?
The IRD co-operates with other OECD countries to share data about overseas tax paid by local tax residents in an effort to combat offshore tax evasion globally. You can read more about this on the IRD’s website.