{"id":10513,"date":"2023-04-11T11:53:57","date_gmt":"2023-04-10T23:53:57","guid":{"rendered":"https:\/\/ontrackbookkeeping.co.nz\/?p=10513"},"modified":"2023-08-15T11:44:05","modified_gmt":"2023-08-14T23:44:05","slug":"late-opt-out-requests-from-kiwisaver","status":"publish","type":"post","link":"https:\/\/ontrackbookkeeping.co.nz\/late-opt-out-requests-from-kiwisaver\/","title":{"rendered":"Late Opt Out Requests from Kiwisaver"},"content":{"rendered":"
Your employees who choose to opt into<\/em><\/strong> KiwiSaver cannot opt out<\/strong><\/em>. Only new employees you are automatically enrolled in KiwiSaver can opt out.<\/p>\n Requests to be opted out after 8 weeks (57 days) are LATE OPT OUT REQUESTS.<\/p>\n Employees will need to send their KiwiSaver late opt-out request to Inland Revenue.<\/p>\n Inland Revenue must approve the late opt-out requests. IR may approve them up to 3 months after the date we got your employee\u2019s first KiwiSaver contribution.<\/p>\n They can only approve them for these reasons:<\/p>\n If you know your employee has applied to opt out of KiwiSaver late, you must keep making KiwiSaver deductions from their pay and paying your compulsory employer contributions and the employer superannuation contribution tax until Inland Revenue advise you that they have approved the late opt-out and when to stop deductions and contributions.<\/p>\n If you have:<\/p>\n Do not refund your employee their deductions if you\u2019ve already paid them to us. They’ll end up getting 2 refunds for the same amount.<\/p>\n Inland Revenue will refund you any compulsory employer contributions you’ve made, if you have no amounts owing to them.<\/p>\n You’ll need to ask for a refund of any employer superannuation contribution tax (ESCT) you\u2019ve paid on compulsory employer contributions. You can do this by either:<\/p>\nHow your employee requests a late opt-out<\/h2>\n
Approving a late opt-out request<\/h2>\n
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Stopping deductions and contributions for late opt-outs<\/h2>\n
Employee refunds when they\u2019re opted out<\/h2>\n
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Your refunds when your employee opts out<\/h2>\n