The Anti-Money Laundering and Countering Financing of Terrorism (Levy) Regulations 2026 were made by Order in Council on 7 September 2026 and come into force on 8 October 2026. They apply to the financial year beginning on 1 July 2027 and subsequent financial years. Under the Ministry of Justice funding model, banks and deposit takers account for 85.25% of total levy costs, the gambling sector 9.25%, and non-bank financial institutions together with designated non-financial businesses and professions the remaining 5.5%.
For law firms and trust and company service providers, the levy is set out in Schedule 2 and is based on the number of customers for whom customer due diligence is undertaken. The New Zealand Law Society says the Department of Internal Affairs will collect the levy annually from 1 July 2027, with further information on invoicing, payment arrangements and key dates to be provided ahead of the first collection. The Law Society also says it made submissions in 2025 and 2026 arguing that the legal sector should be excluded and raising concerns about the design and justification of the levy.