Filing requirements of friendly societies

How to file annual returns and financial statements

Annual returns

Every friendly society is required to file an annual return each year. The annual return must be filed within 3 months of balance date.

Annual return forms

The form you need to use will depend on the type of friendly society.

UFS Dispensary or Working Men's Clubs annual return form PDF, 207 KB opens in a new window

Friendly society annual return form PDF, 219 KB opens in a new window

Fees and levies

The fee for filing an annual return for a friendly society is $62.52 (plus GST). This fee includes a Financial Markets Authority levy of $21.74 (plus GST) and External Reporting Board levy of $6 (plus GST).

Schedule of friendly society fees and levies

Financial statements

Which societies may opt-out

A friendly society that has less than $30 million of total operating expenditure in each of the 2 preceding financial years may opt out of preparation of financial statements required under section 63 of the Friendly Societies and Credit Unions Act 1982 (the Act) by way of resolution of the majority of the members unless the rules of the society expressly provide that the opt-out does not apply — refer section 64 of the Act.

Auditing

Section 64A of the Act requires a society to appoint an auditor to audit its financial statements where the society:

is a specified not-for-profit (NFP) entity (section 64A(1)); or
is not a specified NFP entity and the rules of the society require (section 64A(4)).

A specified NFP entity is one that has total operating payments of $125,000 or more in each of the 2 preceding accounting periods — refer section 62 of the Act.

Friendly Societies and Credit Unions Act 1982 New Zealand Legislation

If your society is an FMC reporting entity

If a friendly society is an FMC reporting entity it is required to prepare and lodge audited financial statements in accordance with subpart 3 of Part 7 of the Financial Markets Conduct Act 2013 (which relates to the preparation, audit, and lodgment of financial statements) — refer section 61 of the Act.

Financial Markets Conduct Act 2013 New Zealand Legislation

Paying the fee for filing financial statements

The fee for lodging financial statements for a friendly society under the Friendly Societies and Credit Unions Act 1982 is $175 (plus GST).

If you're lodging financial statements under the Financial Markets Conduct Act 2013 the fee is $255 (plus GST). This fee includes a Financial Markets Authority levy of $80 (plus GST).