This article will help to explain the steps that need to be followed in order to complete AML and get a refund from the tax pool.
AML verification is required for sales in excess of $1,000 which are being paid directly to your client’s bank account. We partner with Real AML to complete AML verifications.
If you would like a refund, then please provide us with a case contact in order to set up a case for the client involved (name, phone number and email address). This can be the agent, or the client, whatever is easiest.
Real AML will then be in touch with the information they require to complete successful verification. Once a client is verified, this will then be valid for 12 months, before an additional check needs to be made.
Other requirements:
- Please update the client's refund preference in the portal.
- Additionally, please provide confirmation of the clients bank account number in the form of a deposit slip, bank statement or screenshot from internet banking. This can be sent through to team@taxtraders.co.nz. The confirmation needs to show the taxpayer as the owner of the account and the account number. Where a screenshot or bank statement is provided please note only the above details are required and any personal balance or transactional information may be redacted.
Please note that refunds are processed each Friday in our processing run, subject to the above requirements.