Over the weekend of 15 March 2025, we will be updating our system design for the Reserve Scheme Accounts, Income Equalisation (EQU), and Environmental Restoration (ERA). This update aims to fix existing system issues and reduce the manual work involved in managing these accounts.
To help this change smoothly, we ask that you don’t submit any non-urgent withdrawal requests for EQU between Wednesday 12 March at 4pm and 8am Monday 17 March 2025.
After this update, some clients' information for EQU will be temporarily unavailable online. This is because of account maintenance activities following the system update. You and your clients will be able to view their EQU information in myIR again before 31 March 2025.
Reserve schemes – new features and things to know
You and your clients might observe some updates in the look and feel when managing reserve schemes in myIR after 17 March. We are making some changes and additions.
- New ‘Make a Deposit’ option: this new feature can be used instead of the ‘Make a Payment’ function.
- Document attachments: documents can now be attached and submitted with EQU and ERA web requests.
- Changes to EQU withdrawals: when withdrawing EQU deposits, the re-deposit option will no longer be available, and deposits cannot be transferred to another EQU account.
Additionally, we have created new letters to keep customers informed about:
- making deposits
- withdrawing amounts
- annual interest postings
- approaching five-year expiry dates for EQU deposits.