Navigating NZBNs: A Guide To New Zealand Business Numbers

A New Zealand Business Number (NZBN) is something to consider if you’re starting a sole trader business in New Zealand. Despite the fact that it’s not mandatory to get one by law, NZBN’s can be pretty useful when navigating the world of business.  

Even though NZBNs can play a key role for Kiwi business owners, many don’t fully understand what they are, how to get them and their real purpose. Let’s take a deep dive into the world of NZBNs so you can have a better understanding of them. 

What Is An NZBN? 

An NZBN is a unique identifier for businesses. It consists of 13 digits and is useful when it comes to dealing with government agencies, legal matters and identifying your business with the public in general. Many businesses can have similar names, so having something that exclusively belongs to your business can save a lot of headaches and confusion down the line. 

It’s not compulsory to have an NZBN for sole traders, however companies are automatically assigned one.

How Do I Get An NZBN?

Acquiring an NZBN is a fairly simple procedure. You just need a stable internet connection and the right information. 

Here’s a quick step by step guide on what you can expect when applying for an NZBN: 

• Go to the governments NZBN page and click on the NZBN type that will apply to you
• You’ll need to login with your RealMe account
• Next, you’ll be asked a series of questions (it’s important to answer these truthfully) 
• The questions will determine your NZBN entitlement, then it will gather general details regarding your application
• After that, you’ll need to answer some questions about your business, such as address and contact details 
• If you’ve got any associates, such as an accountant then you’ll have a chance to fill those details out to 
• Finally, you will need to let them know your reason for application and then declare everything to be true 
• Then, you’re ready to submit your application! 

Once you have submitted an application for an NZBN, you should find out about the results soon enough. If they’re having trouble locating any information or confirming your identity, then the application might take a bit longer. In order to avoid this, make sure you have all the right details ready to go, so you can ensure your application is processed on time. 

I’ve forgotten My NZBN? How Do I Find My NZBN? 

Hey, we get it. NZBN’s are pretty long to memorise and sometimes, even the most important things can get lost on us. Don’t worry though, if you can’t find where you wrote down your NZBN, then you can always find it again online. 

All you need to do is go to the NZBN Register and type in your business name. From there, it should show your NZBN, plus a few other details about your business. The NZBN Register is also a useful tool when working with other businesses, if you want to double check a few details or see if something is legit, then it’s always a good idea to do a quick search on the NZBN Register.  

How Do I Cancel An NZBN? 

When it’s time to close down business operations, then you will need to cancel your NZBN. Much like getting an NZBN, you can cancel your NZBN online. You’ll just need to use your login details and follow the prompts to cancel your NZBN or put it on hold.

If you’re a company, then you’ll need to take the necessary steps to close down your company, which will result in the cancellation of your NZBN.

Do I Need An NZBN To Register For Tax? 

If you’re a company, then you will automatically get an NZBN which you will need when handling tax matters. However, for sole traders, you don’t need an NZBN to apply for taxes. Instead, you can just let Inland Revune know that you’re starting a business (it’s compulsory to do this) and apply for all the relevant taxes. Taxes like GST and income tax are necessary parts of owning a business, so it’s important to know which ones will apply to you and go from there. 

Next Steps 

An NZBN is a simple yet significant factor for any business. If you’re a person in business, understanding what an NZBN means for your business is crucial in getting a sound grasp of the legalities surrounding the business landscape. To summarise what we’ve discussed: 

• An NZBN is an 13-digit unique identifier for businesses in New Zealand
• It helps with government interactions, legal matters and distinguishing your business from others with similar names
• Applying for an NZBN is not compulsory for sole traders and companies get one assigned automatically
• The application process involves visiting the NZBN website, answering a series of questions truthfully, providing business details, and declaring the accuracy of the information
• Having all necessary details ready to go can help with the application process
• If you forget your NZBN, you can easily retrieve it online by using the NZBN Register. Just type in your business name to access the information
• When closing down your business, you must cancel your NZBN, which can also be done online
• You don’t need an NZBN to register for taxes, but it’s important to let Inland Revenue know of your business operations regardless

If you would like a consultation on your options moving forward, you can reach us at 0800 002 184 or [email protected] for a free, no-obligations chat..

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