(1) The trustee must report the beneficiary's tax file number to the Commissioner, in the approved form, if:
(a) the beneficiary quotes the beneficiary's tax file number to the trustee during a quarter (within the meaning of the Income Tax Assessment Act 1997 ); and
(b) the beneficiary has not quoted the beneficiary's tax file number to the trustee in connection with an investment to which this Part applies; and
(c) the trustee has not reported, and is not required to report, the beneficiary's tax file number to the Commissioner under Division 6D of Part III of this Act (about trustee beneficiary non-disclosure tax).
(2) The trustee must give the report to the Commissioner within:
(a) one month after the end of the quarter to which it relates; or
(b) within such further time as the Commissioner allows.
(3) The Commissioner may, by notice in writing given to the trustee, inform the trustee that the period specified in the notice (being a period greater than 3 months) is to be the trustee's reporting period for the purposes of this section. If the Commissioner does so, a reference in this section to a quarter is taken to be a reference to the period specified in the notice.
(4) For the purposes of this section, disregard subsection 202DR(3).
Note: Refusal or failure to report to the Commissioner as required by this section is an offence under section 8C of the Taxation Administration Act 1953 .