Changing your BIC code

Your Business Industry Classification (BIC) code was probably chosen once, quickly, at registration — and it silently drives your ACC classification and levy rate from then on. When the business changes, the code needs changing in two places.

1. ACC

Employers: complete an ACC4618 and email it to business@acc.co.nz. Self-employed: update your details in MyACC for Business, or ring 0800 222 776. Name the BIC code you believe is right — assessors decide faster on a concrete code than on a description.

2. IRD

Update the BIC with IRD through myIR secure mail, or on 0800 377 774. ACC and IRD match data; a code fixed at only one agency reverts at the next match, and next year's invoice arrives wrong again.

Finding the right code

The official lookup is businessdescription.co.nz. Describe what the business does now — day to day, this year — not what it did when it started or what the brand suggests.

Sources: ACC — sort a levy problem; businessdescription.co.nz.