Crypto reporting changes are coming to New Zealand

From April 2026, new reporting requirements will apply to crypto platforms in New Zealand. Here’s what’s changing and what it means for you.

From 1 April 2026 , New Zealand will begin introducing the Crypto Asset Reporting Framework, known as CARF. This is a new international framework developed by the OECD that has been adopted by Inland Revenue to improve visibility of crypto activity and help ensure existing tax obligations are being met.

For Pay It Now users, it’s important to understand that this doesn’t just impact Pay It Now. It applies across the wider crypto industry in New Zealand, including all platforms and the users who transact through them.

It is also important to note that this does not introduce any new taxes. The main change is how information is collected, held, and reported. This reflects a broader shift across the industry, bringing crypto more in line with how traditional financial systems already operate.

In simple terms, what is changing

From 1 April 2026, crypto platforms operating in New Zealand will need to collect more standardized information from users and report certain information to Inland Revenue This includes collecting basic identifying details, confirming tax residency, recording relevant transaction activity, and reporting this information each year. Platforms are also required to keep records to support this reporting.

The way crypto is taxed is not changing. What is changing is how information is collected and shared.

Why this is happening

In the past, crypto activity has not always been easy for tax authorities to see.

With bank accounts and investment platforms, reporting systems are already well established. Crypto has not always fit into those systems, especially where activity happens across different wallets, platforms, or countries.

CARF has been introduced to address this.

In simple terms, it helps Inland Revenue build a clearer and more consistent picture of crypto activity so they can check whether existing obligations are being met.

As these rules come into effect, crypto activity will become more visible and more closely aligned with traditional financial systems. This alignment may also help reduce perceived risk and support greater integration between crypto platforms and traditional financial institutions over time.

What this means for you

For most Pay It Now users, the impact will be minimal and largely administrative.

You will still be able to use the PIN Network in the same way you do today for buying, selling, exchanging or spending crypto.

The main change is that you may be asked to provide or confirm some additional details so that Pay It Now can meet its regulatory obligations.

All Pay It Now users will need to confirm their country of tax residency.

Depending on your tax residency and applicable reporting requirements, you may also be asked to provide a tax identification number.

What we may ask you to do

From April 2026 on-wards, depending on the information we already hold, you may be asked to:

  • Confirm your IRD/Tax Code number
  • Confirm your country of tax residency
  • Review your personal details
  • Confirm that the information provided is accurate

You may have already provided some of your personal details such as your name, date of birth, and address. The main additions will usually be your tax residency and, where required, your tax identification number.

This will be done through simple in app prompts and should only take a few minutes to complete. For new users, these questions will form part of the on-boarding process before transactions can take place.

Requirements may vary depending on your country of tax residency. As more countries adopt CARF over time, you may be required to provide additional information and keep your details up to date.

When these changes take effect

  • 1 April 2026

CARF comes into effect in New Zealand

  • 1 April 2026 to 31 March 2027

First New Zealand based reporting period

  • From 30 June 2027

New Zealand based crypto platforms will begin reporting to Inland Revenue From April 2026, all existing and new users will need to ensure their tax residency information is up to date in order to continue transacting and using the PIN Network.

A global shift

CARF is part of a global reporting framework.

This means Inland Revenue may share information with overseas tax authorities and may also receive information about New Zealand tax residents using offshore platforms.

In the past, a large portion of crypto activity, especially offshore, has had limited visibility for authorities such as Inland Revenue. That is now set to change.

This move reflects a broader global move toward more consistent and transparent reporting for Crypto assets.

As part of these changes, all Pay It Now users will need to ensure their information is up to date, including those based outside New Zealand.

As a New Zealand based platform, Pay It Now is required to collect user information, including confirming tax residency, and report relevant information to Inland Revenue where required. The reporting requirements depend on a user’s tax residency and whether their country is part of the CARF reporting framework. Inland Revenue may then share that information with the relevant tax authority where applicable.

Your privacy and security

We understand that this involves sensitive information.