ID requirements - Milford Asset

ID requirements

The Anti-Money Laundering and Countering Financing of Terrorism Act requires New Zealand to meet international standards of customer identity verification.

Are you investing into a Unit Trust PIE Fund or KiwiSaver?

Which type of entity will be investing?:

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and, periodically, confirm or reconfirm information about existing clients.

At the date of this Product Disclosure Statement ('PDS') we have two alternatives for clients to confirm their identity, either using an electronic verification system or by providing certified copies of their identification documents.

To use the electronic verification system, please click here download the Individual/Joint Application form (on page 21 of the PDS).

 

Option 1

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • Passport

  • (must be signed)

  • OR

  • New Zealand Firearms Licence

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

PLUS Proof of Bank account

  • Bank statement dated within the last 12 months

  • Deposit slip

Option 2

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • New Zealand Drivers Licence

  • (including the photo side and expiry date)

  • PLUS a certified copy of one of the following:

  • Your birth certificate

  • A bank statement issued in the last 12 months

  • Certificate of New Zealand citizenship

  • A statement/letter issued by a government agency such as IRD or WINZ in the last 12 months.

  • A valid debit or credit card with name embossed and signature

  • SuperGold card with photo, name and signature

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • (if not already provided as I.D. verification)

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

PLUS Proof of Bank account

  • Bank statement dated within the last 12 months

  • Deposit slip

Investing on behalf of a minor

If investing on behalf of a minor, we require identification documents for their guardian(s) (as outlined above) and the following:

A certified copy of identification for the minor:

(please scroll down to see certification requirements)

  • Birth certificate

  • OR

  • Passport

PLUS certified copies of guardianship documentation:

(please scroll down to see certification requirements)

  • Birth certificate

  • OR

  • Court order (if applicable) to verify legal guardianship

Note: If the minor is under 16 years old then both parents or legal guardians must sign the application and provide identification documents. If the minor is between 16 & 18 years old, the minor and ONE parent/legal guardian must sign the application and provide identification documents.

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and associated parties and, periodically, confirming information about existing clients and associated parties. In the case of Trust and Company clients we also have to collect other information too.

At the date of this Product Disclosure Statement ('PDS') we have two alternatives for clients to confirm an individual’s identity, either using an electronic verification system or by providing certified copies of their identification documents. Please note that proof of the designated bank account connected to the application will also be required in all cases.

To use the electronic verification system, please click here download the Trust/Company or Entity Application form (on page 27 of the PDS).

 

Trust documentation requirements

  • Trust Deed

  • Including any amendments and subsequent trustee appointment documents

  • Certified ID for each Trustee

  • Address verification for each Trustee

  • Bank account proof for the Trust

  • (bank statement dated within the last 12 months or deposit slip)

  • Beneficiary details

  • Name and birth date of each beneficiary named in the Trust Deed

  • Source of Funds or Wealth documentation (see below for examples)

  • If an Estate, a certified copy of Probate

See below for certification and verification instructions

Who do we need to identify?

  • Trustees
  • Settlors where the sum settled into Trust is significant
  • Any individuals acting under a Power of Attorney
  • Any non-discretionary beneficiaries with greater than 25% interest in the trust
  • Any other individuals who have influence or control over investment decisions
  • If applicable an Appointer or Protector
  • Directors of a Trustee Company
  • Shareholders of a Trustee Company with more than a 25% holding.

 

Trustee Identity Verification

Option 1

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • Passport (must be signed)

  • OR

  • New Zealand Firearms Licence

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

Trustee Identity Verification

Option 2

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • New Zealand Drivers Licence

  • (including the photo side and expiry date)

  • PLUS a certified copy of one of the following:

  • Your birth certificate

  • A bank statement issued in the last 12 months

  • Certificate of New Zealand citizenship

  • A statement/letter issued by a government agency such as IRD or WINZ in the last 12 months.

  • A valid debit or credit card with name embossed and signature

  • SuperGold card with photo, name and signature

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • (only if not provided as part of identity verification)

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and associated parties and, periodically, confirming information about existing clients and associated parties. In the case of Trust and Company clients we also have to collect other information too.

At the date of this Product Disclosure Statement ('PDS') we have two alternatives for clients to confirm an individual’s identity, either using an electronic verification system or by providing certified copies of their identification documents. Please note that proof of the designated bank account connected to the application will also be required in all cases.

To use the electronic verification system, please click here to complete our online application form.

 

Option 1

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • New Zealand Passport (must be signed)

  • OR

  • New Zealand Firearms Licence

  • OR

  • Foreign Passport (must be signed and show evidence of New Zealand Residency status)

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

Option 2

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • New Zealand Drivers Licence

  • (including the photo side and expiry date)

  • PLUS a certified copy of one of the following:

  • Your birth certificate

  • A bank statement issued in the last 12 months

  • Certificate of New Zealand citizenship

  • A statement/letter issued by a government agency such as IRD or WINZ in the last 12 months.

  • A valid debit or credit card with name embossed and signature

  • SuperGold card with photo, name and signature

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • (only if not provided as part of identity verification)

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

Investing on behalf of a minor

If investing on behalf of a minor, we require identification documents for their guardian(s) (as outlined above) and the following:

A certified copy of identification for the minor:

(please scroll down to see certification requirements)

  • Birth certificate

  • OR

  • Passport

PLUS certified copies of guardianship documentation:

(please scroll down to see certification requirements)

  • Birth certificate

  • OR

  • Court order (if applicable) to verify legal guardianship

Note: If the minor is under 16 years old then both parents or legal guardians must sign the application and provide identification documents. If the minor is between 16 & 18 years old, the minor and ONE parent/legal guardian must sign the application and provide identification documents.

The Anti-Money Laundering and Countering Financing of Terrorism Act 2009 requires Milford to verify the identity of new clients and associated parties and, periodically, confirming information about existing clients and associated parties. In the case of Trust and Company clients we also have to collect other information too.

At the date of this Product Disclosure Statement ('PDS') we have two alternatives for clients to confirm an individual’s identity, either using an electronic verification system or by providing certified copies of their identification documents. Please note that proof of the designated bank account connected to the application will also be required in all cases.

To use the electronic verification system, please click here download the Trust/Company or Entity Application form (on page 27 of the PDS).

 

Company documentation requirements

  • Certificate of incorporation or partnership agreement

  • Certified ID for each Director

  • Address verification for each Director

  • Bank account proof for the Company

  • (bank statement dated within the last 12 months or deposit slip)

  • Address verification for the Company’s registered office

  • List of authorised signatories, if relevant

  • Source of Funds or Wealth documentation if the company:

  • a) is a vehicle for holding personal assets

  • b) includes nominee shareholders

  • c) has shares in bearer form

  • (See below for examples of this documentation)

See below for certification and verification instructions

Who do we need to identify?

Companies and other Entities

  • Directors
  • Shareholders (other than directors) who control more than 25% of the company
  • Any authorised officials or officers
  • Any other individuals who have influence or control over investment decisions

 

Director Identity Verification

Option 1

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • Passport (must be signed)

  • OR

  • New Zealand Firearms Licence

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

Director Identity Verification

Option 2

A Certified Copy of Identification

(please scroll down to see certification instructions)

  • New Zealand Drivers Licence

  • (including the photo side and expiry date)

  • PLUS a certified copy of one of the following:

  • Your birth certificate

  • A bank statement issued in the last 12 months

  • Certificate of New Zealand citizenship

  • A statement/letter issued by a government agency such as IRD or WINZ in the last 12 months.

  • A valid debit or credit card with name embossed and signature

  • SuperGold card with photo, name and signature

PLUS Address Verification

(Dated within the last 3 months) showing your name and residential address

  • Bank statement

  • (only if not provided as part of identity verification)

  • Utility bill for a fixed service

  • (i.e. power, water, rates, landline)

  • Letter from a government agency

  • (such as IRD or WINZ)

Certification of your personal identity documents must be done by one of the following:
  • Lawyer

  • Registered medical doctor

  • Notary Public

  • Commonwealth representative
  • Chartered accountant

  • Registered teacher

  • Member of parliament

  • Minister of religion
  • Justice of the Peace

  • An employee of the police who holds the office of constable or above

  • New Zealand honorary consul

  • A person who has the legal authority to take statutory declarations or the equivalent in New Zealand.
In addition, the individual certifying your documents must not be:
  • Yourself

  • Under 16 years of age

  • Your spouse or partner
  • Related to you (e.g. your parent, child, brother, sister, aunt, uncle or cousin)

  • A person who lives at the same address as you

The individual certifying copies of the documents must sight the original document and write the following on the photocopy:


  • "This photo copy is a true and correct copy of the original document which has not been altered in any way." Or words to that effect
  • Their name
  • Their occupation and signature
  • The date of certification

Certification must have been carried out within the past three months.

Source of Funds / Wealth Suggested Verification/Evidence
(not exhaustive)
Employment

• Pay slip (or bonus) from within the last three months

• Bank statement details

• IRD Documents

• Employment agreement

Business proceeds

• Latest audited company accounts

• Letter from solicitor or accountant

Disposal of Business or Assets

• Latest audited company accounts

• Letter from solicitor or accountant

Sale of property

• Sale contract

• Letter from solicitor or accountant

Investment income

• Investment/savings certificates, contract notes or surrender statements

• Bank statements clearly showing receipt of funds and investment company name

• Signed letter detailing funds from a regulated accountant or solicitor

Lottery/Betting win

• Lotteries commission letter

Superannuation lump sum or annuity/retirement plan payments

• Closing statement

• Letter confirming collection

Insurance or compensation claim

• Closing statement

• Letter confirming claim

Inheritance

• Grant of Probate (copy of the will) which includes value of the estate

• Letter from solicitor or accountant

Gift

• Donor’s source of wealth – requirements of evidence as stated above for each individual source of wealth and a letter from the donor confirming details of the gift

• Letter from solicitor

Maturity or surrender of life policy

• Closing statement

• Letter confirming surrender

Other Income

• Anything not listed that otherwise proves source of wealth or funds and is independent

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