Significant financial hardship 2025

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4.7 out of 5

30 votes

The document is an application form for individuals seeking to withdraw funds from their KiwiSaver account due to significant financial hardship. It outlines the criteria for hardship, required documentation, and the process for submission. The form includes sections for personal details, assets, liabilities, income, expenses, and a declaration of hardship. Applicants must provide evidence of their financial situation and may need to seek independent advice before applying.

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Click ‘Get Form’ to open the Significant Financial Hardship application in the editor.
Begin with Section A: Introduction. Read through the criteria for significant financial hardship to ensure you qualify before proceeding.
In Section B: Your Personal Details, fill in your member number, IRD number, and personal information in BLOCK letters. Ensure all fields are completed accurately.
Move to Section C: Assets and Liabilities. List all assets including residential properties, vehicles, and bank accounts. Then detail your liabilities such as mortgages and loans.
Next, provide your income details in Section C: Income. Include all sources of income and attach necessary documentation like payslips.
In Section C: Expenses, outline your weekly expenses comprehensively. Attach any relevant statements for verification.
Complete Section D: Declaration of Significant Financial Hardship by answering the questions truthfully and providing supporting documents if required.
Finally, sign Section E: Member Declaration in front of an authorized witness and ensure all required documents are attached before submission.

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Versions	Form popularity	Fillable & printable
2022	4.8 Satisfied (81 Votes)
2020	4.1 Satisfied (43 Votes)
2017	4.7 Satisfied (30 Votes)

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What is considered financial difficulty?

Financial distress happens when revenues or income no longer meet or pay for the financial obligations of an individual or organization. Financial distress is often a harbinger of bankruptcy and can cause lasting damage to ones creditworthiness.

What is considered severe financial hardship?

As a Federal Employee my income has been reduced by 20% per pay period. I am now experiencing financial hardship due reduced income. Because my income has dropped considerably I can no longer afford the terms of the original loan.

What is an example problem of financial problems?

Here is a list of the most common financial problems people may face: Lack of income/job loss. Unexpected expenses. Too much debt.

What qualifies as a financial hardship?

an inability to meet payments out of disposable income or at all. Examples include: non-payments of essential bills. having to borrow further to repay existing debts. a borrower only being able to make payments by selling assets.

What is significant financial difficulties?

Severe financial hardship and your super Severe financial hardship is when you are unable to meet reasonable and immediate family living expenses like groceries, rent or medical costs. You may be able to access some of your super early to help.