Your Business Industry Classification (BIC) code tells ACC what type of work you do and is used to calculate the amount of ACC you need to pay.
Your BIC code will look like this: M692430
It’s important not to confuse your BIC code with your Classification Unit (CU). Your CU is shown on your ACC invoice, but not your BiC code. ACC gets your BIC code from IRD and then converts it into a CU but the two codes are not interchangeable.
There are two ways to find your BIC code, by logging into your myIR account or entering your CU into the online BIC code finder.
Log into your myIR account
The best place to get your BIC is directly from your IRD account. That way you can be sure it’s correct and you can also update your BIC code if it not longer reflects the type of work you do.
To view your BIC code follow the steps below:
- Login to your myIR account.
- From the ‘I want to..’ menu click on the ‘More’ button.
- At the bottom of the page click the ‘Manage BIC codes’ link.
- Here you’ll find your BIC code and a description of the work you do.
Use the online BIC code finder
The online BIC code finder was created by IRD and ACC. To find your BIC code using the online finder follow the steps below:
- Find your CU from one of your ACC invoices.
- Go to the BIC code finder and enter your CU or CU description into the search field.
- Locate your BIC code on the relevant search result.
Once you’ve found your BIC code enter it into your Solo settings and Solo will give you an accurate total of how much ACC you owe at any point in the year so you’re always prepared.