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Annual returns due in 2008

Every retirement village is required to file with the Registrar of Retirement Villages an annual return (apart from in the year of registration). All retirement villages registered in 2007 have an annual return due in 2008.

The annual return is to be filed during the month allocated by the Registrar. The allocated month is based on the retirement village operator’s financial reporting balance date, and is set six months from this date, i.e. if the operator’s financial reporting balance date is March, the retirement village’s annual return will be due in September.

The annual return must be in the prescribed form (Form 2) and must contain the prescribed information for the prescribed period:

1. The certificate referred to in section 16 of the Retirement Villages Act 2003. To streamline this process the certificate is part of the annual return form.
2. A copy of the retirement village operator's audited financial statements which comply with the Financial Reporting Act 1993; and
3. If the operator is not exempt, under section 42 of the Retirement Villages Act 2003, from the requirement to appoint a statutory supervisor, a certificate signed by the statutory supervisor stating that:
   1. the operator has supplied to the supervisor a copy of the retirement village’s audited financial statements; and
   2. the information contained in the annual return, is to the best of the supervisor’s knowledge and belief accurate; and

4. The prescribed fee for filing an annual return. Fee calculations are based on the size of the retirement village and can be found in the fees schedule.

The annual return must be dated as at a day within the month the annual return is due to be filed, and the information required to be contained in the annual return must be accurate as at that date.

Please note, the retirement village operator has a separate filing obligation under the Financial Reporting Act 1993 to submit financial statements.