Thursday 23 February 2012
Questions & Answers - About Us

Who is ESUPERFUND?

ESUPERFUND is a pioneer in online Self Managed Superannuation in Australia and has helped thousands of SMSF Investors establish and manage their own SMSF since the year 2006. ESUPERFUND administers all aspects of a SMSF's compliance obligations, including the SMSF's Financial Statements, Tax Return and Audit. ESUPERFUND does not provide Investment Advice to clients as our clients are largely DIY Investors who prefer to make their own Investment decisions for their SMSF, rather than pay excessive fees to Advisors.

Who owns ESUPERFUND?

ESUPERFUND is currently privately owned. It is not institutionally owned. ESUPERFUND only partners with other large and reputable organisations, such as Commonwealth Bank and ANZ, to provide its service at a discount to Market.

Does ESUPERFUND administer SMSF's for clients in all States?

Yes. ESUPERFUND are based in Melbourne but administer SMSF's for clients all over Australia. With the efficiency of the Internet and Technology in general, we find that there are absolutely no impediments to clients joining ESUPERFUND from other States. In fact the majority of our clients are from Interstate and have been clients for many years.

Does ESUPERFUND outsource work overseas?

No. ESUPERFUND performs all work from its Melbourne Office and uses only qualified accounting staff in Australia. Our qualified accounting staff ensure that your compliance obligations are professionally and accurately handled. We do not outsource any work overseas.

Is ESUPERFUND Licensed?

Yes. ESUPERFUND is licensed through the Australian Securities and Investments Commission ('ASIC'). Its Australian Financial Services Licensee (AFSL Number) is 340762. Our ASIC details can be found here. This ensures that you have peace of mind that that you have an avenue to seek assistance should you have any concerns with any of the services noted in our Financial Services Guide. ESUPERFUND is also licensed with the Australian Taxation Office as a Registered Taxation Agent, ensuring that your compliance requirements are attended to professionally and accurately. Our Tax Agent License details can be found here.

How long does it take to establish a SMSF with ESUPERFUND?

ESUPERFUND will forward documentation to you for signing to establish your SMSF within 5 business days of receiving your online application. Once you have returned the documentation it is lodged with the ATO who in turn will issue the SMSF with a TFN and ABN. This process takes approximately 4 weeks on average. A Timeline detailing the Setup Process can be found here.

Do I need a minimum amount to commence a SMSF with ESUPERFUND?

No. A common rule of thumb in the superannuation industry is that you should have $200,000 in Super Benefits prior to establishing a SMSF. Some administrators actually require you to have a minimum amount in order to commence a SMSF, usually $100,000 or more. Conveniently these same administrators charge you on a percentage basis which can add unnecessary fees to your annual invoice. There is actually no legal minimum balance to establish a SMSF. You can establish a SMSF with ESUPERFUND with any amount desired. For more visit our article "The $200,000 SMSF Myth" here.

Why should I join ESUPERFUND?

For the Top 30 Reasons and Features of why you should join ESUPERFUND click here.

What happens if ESUPERFUND ceases to trade? Is my Super Safe?

Your Super Benefit is completely safe. All SMSF Investments including the ANZ V2 Plus Bank Account and Broker Accounts are established in the name of your SMSF. This is a very important point and gives you total peace of mind that your SMSF is the direct owner of the SMSF Investments. ESUPERFUND do not have any access to your Bank or Broker Accounts either directly or indirectly. So in the very unlikely event we cease to operate or trade or become insolvent, all your SMSF Investments are totally protected and secure because your SMSF is the direct owner of the assets. It is important to understand that only you as the Trustee for the SMSF can access your SMSF accounts.

General Advice Warning

The contents of this website are of a general nature only and have not been prepared to take into account any particular investor's objectives, financial situation or particular needs. Where this publication refers to a particular financial product then you should obtain a Product Disclosure Statement (PDS) relating to that product and consider the PDS before making any decision about whether to acquire the product. We also recommend that you should seek professional advice from a financial adviser before making any decision to purchase any financial product referred to on this website. While the sources for the material are considered reliable, responsibility is not accepted for any inaccuracies, errors or omissions.