Changing your FBT filing date

Changing your FBT filing date

If you or your clients provide fringe benefits to staff or shareholders you must file regular FBT returns. There are set dates when you can change from quarterly filing (the default) to another method.

The three filing options are:

  • quarterly
  • annual
  • income year.

Quarterly returns

Employers are required to file FBT returns quarterly unless they meet the criteria outlined in the Fringe benefit tax guide (IR409) and then elect to file yearly returns.

The return periods and due dates for quarterly returns are outlined here.

Quarter Return period Due date
1 1 April to 30 June 20 July
2 1 July to 30 September 20 October
3 1 October to 31 December 20 January
4 1 January to 31 March 31 May

Annual returns

If you’re a current employer and want to change from quarterly filing, you must make your election by 30 June in the year the election first applies. For example, if you want to file your first annual return for the year ended 31 March 2014, you must make an election by 30 June 2013.

New employers must make their election by the last day of the first quarter after starting to employ. For example, if you started employing on 31 October 2012, you must have made an election by 31 December 2012 to be able to file a first annual return to 31 March 2013.

Income year returns

Existing companies with shareholder-employees can elect to file income year returns by the last day of the first FBT quarter in the income year for which the election applies. For example, a company with a 30 September balance date would have to have elected by 31 December 2012 to file a return for the year ended 30 September 2013.

Companies that are new employers must elect by the last day of the first quarter in which they started employing, within the income year the election applies for. For example, if a company with a 30 June balance date starts employing on 31 July 2013, it must make an election by 30 September 2013.

Section RD 60(2) of the Income Tax Act 2007 sets out the dates by which a close company that meets the requirements of RD 60(1) must make its election if it wants to file its FBT returns on an income year basis.

Section RD 61(2) also sets out the dates by which a small business that meets the requirements of section 61(1) must make its election if it wants to file its FBT returns on an annual basis. Because the dates are set we can’t accept late FBT return elections. Returns received where no election has been made or the election is outside the time allowed will be treated as invalid and your client will be asked to file FBT quarterly returns. This may make them liable for penalties and interest because of different due dates.

You can make your fringe benefit tax election online. This service allows employers to change how often they file FBT returns or elect not to file FBT returns. However, you can’t request to file your FBT returns quarterly using this service, you must call us on 0800 377 772 to do this.