The process won't be over when Winston Peters announces NZ First's preferred coalition partner or partners, with the parties going through different processes to accept the deal.
1 NEWS political reporter Katie Bradford said it is understood the NZ First caucus are currently meeting but Winston Peters hasn't talked to the media today.
"The big question on everybody's lips is when will the NZ First board be able to meet?" Ms Bradford said.
Once the board decides on a deal, it will go back to the selected party or parties for confirmation.
"National and Labour have different policies or processes in place once a decision has been made.
"Labour will take a decision to their executive... National on the other hand take it to their caucus and their board to sign off."
"The Greens have a conference call ready to go with their delegates."
DEADLINE TOO AMBITIOUS
This morning 1 NEWS political editor Corin Dann said a deadline to decide the next government by today was too ambitious.
"Winston Peters took quite a while to acknowledge the deadline has been missed," Mr Dann said.
But no-one holds it against the NZ First leader, Mr Dann said on TVNZ1's Breakfast this morning.
"It was his own deadline, one or two days here or there isn't that much of an issue."
"It's just the continued uncertainty about it that's a bit frustrating, and now the situation with the board suddenly having to fly in to Wellington... It just seems a bit odd they weren't on stand-by."
He said there was "huge pressure" on the NZ First board.
"Ulitmately that board, in a funny roundabout way, is picking who the next prime minister is."He said secrecy around the board could be a stalling tactic, or as the members are not elected members of parliament, "Maybe Winston Peters is trying to protect them from scrutiny".
Mr Dann predicted Mr Peters would announce the decision on Monday.