www.esuperfund.com.au

Change of Trustees for a Self Managed Super Fund


The steps involved to appoint/remove Trustee/(s) (Corporate Trustee or Individual Trustee) for a Self Managed Superannuation Fund are as follows:

Step 1

For ANZ V2 Plus Account:

An authority to remove the existing Trustee/(s) and appoint the new Trustee to the existing ANZ V2 Plus account will be completed by our office and forwarded to you for signing.

For Commonwealth Bank Accelerator Cash Account:

To execute the change of trustee request, a new Commonwealth Accelerator Cash Account will be established for your SMSF. In addition, an Authority for CBA to close your existing Commonwealth Accelerator Cash Account and transfer the funds to the new CBA Accelerator Cash Account will be completed by our office and forwarded to you for signing.

Importantly, payments made to and from your existing CBA Accelerator Cash Account will need to be redirected to your new CBA Accelerator Cash Account. Please ensure that any unsettled trades are finalised prior to the closure of your existing CBA Accelerator Cash Account.

Step 2

ATO documentation to appoint/remove the Trustee/(s) will be lodged with the ATO. This will be completed by our office and forwarded to you for signing.

Step 3

Trustee Minutes will be prepared to evidence the change in Trustee/(s) for your SMSF. This will be completed by our office and forwarded to you for signing.

Step 4

A new CommSec or EBROKING Share Trading Account will be established. The reasons for this are outlined below:

Unfortunately, CHESS and the Australian Stock Exchange (ASX) do not allow a change of Trustee to an existing Share Trading Account. Where a change in Trustee has occurred a new Share Trading Account is required to be established.

If you currently hold shares in your SMSF CommSec or EBROKING Share Trading Account these shares will be required to be transferred via Off Market Transfer Forms (CommSec currently charges $54 per transfer/share and EBROKING currently charges $55 per transfer/share up to a maximum portfolio transfer fee of $110).

Accordingly, an application to establish a new Share Trading Account with CommSec or EBROKING for your Self Managed Super Fund (SMSF) will be prepared. You will be provided with a new login and Account Number. Once you have received your new CommSec or EBROKING Account details you can complete the CommSec or EBROKING Off Market Transfer Forms.

Step 5

If you currently hold Property (or any other assets), the property title will be required to be changed. We advise you seek legal advice in relation to possible taxation and stamp duty issues that may apply.

Step 6

If you currently hold Term deposits or other financial institution accounts we advise that you seek legal advice in relation to possible taxation, stamp duty and or early exit fees that may apply.

Step 7

Please note that if there is a removing member, the member has to roll out his/her Super Benefits in accordance with the Rollover Benefits Statements provided by ESUPERFUND before the change of Trustee application can be processed. Please contact ESUPERFUND via your Client Portal Inbox for further information.

Step 8

If you wish to proceed with the change of Trustee/(s), please click here.

Important Information

A fee of $199 will apply to establish the change of Trustee/Member application. It is important to note that additional costs may apply when processing a change in Trustee/Member application in relation to your SMSF. You should seek legal or professional advice before completing a change in Trustee/Member application for your SMSF. ESUPERFUND does not and cannot provide you with financial or legal advice in relation to a change in Trustee/Member for your SMSF.