Change your bank account#
The ECE Funding Handbook has information about how to complete the RS2 form to change the early learning service provider details and bank account.
Chapter 8: Changing your service details
Submit a funding return#
All early learning services must submit RS7 returns 3 times a year. If a service changed ownership during a funding period, the new operator can:
- submit a paper-based RS7 return for the period before the purchase
- submit an electronic RS7 return for the period after the purchase
- or, email an entire paper-based funding claim to us.
Email: [email protected]
Funding is made in accordance with the conditions set in Section 548 of the Education and Training Act 2020 No. 38 (as at 01 October 2024) and Public Act 548.
Find funding dates and instructions on how to submit an RS7 return.
Payments#
Payments are generally made to the owner of the service at the point of payment. However, if a change of ownership occurs around the time of an ECE subsidy payment, processing timeframes may not allow the subsidy payment to be made to the new owner.
Who payment is made to cannot be changed after the processing end date. Any change of ownership after the process end date will result in the payment being made to the old owner.
If you are considering a change of ownership around an ECE subsidy payment, contact us to discuss the options.
Email: [email protected]
Any split of funding payments should be negotiated between past and present ownership and should be considered in the sale and purchase agreement when the service is sold.
Due diligence is advised regarding how the previous owner operated including knowledge of the staff hour count and funding rate.
We recommend that independent legal and financial advice is sought for negotiations between parties, including regarding any possible payment to the previous owner to be made by the new owner.
