www.esuperfund.com.au

Questions & Answers - Setup


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+ How do I apply to Setup a New SMSF?

To establish a SMSF you simply need to visit our online application form and submit your application over the internet.

+ Does ESUPERFUND accept existing SMSF's?

If you already have an Existing SMSF, please note that unfortunately, we are unable to transition the Existing SMSF to ESUPERFUND.

+ What do I receive when I submit an Online Application to Setup a New SMSF?

When you apply online to establish a New SMSF, ESUPERFUND will email to you all the required documentation necessary to establish the SMSF. Under our current Special Free Offer it is absolutely FREE to establish a SMSF with ESUPERFUND. Learn more about our SMSF Setup Fee.The "Establishment Package" forwarded to you when you submit your online application to establish your SMSF includes:

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    The SMSF Trust Deed
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    Documentation to appoint Trustees
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    Product Disclosure Statement for Members
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    Trustee Declarations
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    Lodgment of an Election for your SMSF to become a regulated SMSF
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    ATO Application to obtain a Tax File Number for your SMSF
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    ATO Application to obtain an Australian Business Number for your SMSF
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    Sample Investment Strategy that you can adopt for your SMSF or modify if required
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    Resolutions and minutes to acknowledge the establishment of your SMSF
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    Application to establish a Bank Account with CBA
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    Application to establish a Broker Account with CommSec
+ Does the Establishment Package include a Trust Deed?

Yes. As detailed above when you apply to establish a SMSF with ESUPERFUND an "Establishment Package" will be emailed to you with all the documentation necessary to establish the SMSF. This includes the SMSF Trust Deed. The SMSF Trust Deed specifies all the rules of the SMSF and determines what your SMSF can and cannot do. Importantly the SMSF Trust Deed provided to you when you establish your SMSF is completely up to date and allows you to do all the things allowed by current Super Laws. This includes but is not limited to investing in all assets allowed by Law, borrowing to acquire property and commencing and paying Pensions and Lump Sums from the SMSF. Our Trust Deed is drafted by Maddocks Lawyers and is completely up to date with current Super Laws.

+ Can I review the Trust Deed before I join ESUPERFUND?

When you apply online to establish an SMSF, ESUPERFUND will email to you all the required documentation necessary to establish the SMSF. Under our current promotional offer it is absolutely FREE to establish a SMSF with ESUPERFUND. The "Establishment Package" forwarded to you when you submit your online application to establish your SMSF includes the SMSF Trust Deed. We understand that establishing a SMSF is a big decision. So it is acceptable if you change your mind after applying to establish the SMSF. In fact when you receive the Establishment Package to setup the SMSF, you will have one month to review the documentation including the SMSF Trust Deed and can cancel the application at any time at no cost to you. Alternatively if you wish to proceed with establishing the SMSF you simply need to sign and return the Establishment Package. It could not be easier. Or fairer!

+ Does ESUPERFUND arrange for the Trust Deed to be updated?

Yes. Where required, ESUPERFUND will arrange for the Trust Deed to be updated. Realistically the Trust Deed is drafted extremely broadly and accordingly it does not need to be updated even if there are minor changes to legislation. By way of example there has only been one Trust Deed upgrade since 2006. The Fee for any update will be nominal and less than $100 where required.

+ What is the SMSF Investment Strategy?

When you establish a SMSF with ESUPERFUND we will provide an example of an Investment Strategy for your SMSF. You may adopt the standard Investment Strategy for your SMSF or modify it as you deem necessary. The Standard Investment Strategy is very flexible and in no way restrictive. It does not specify percentage investment ranges and gives you the flexibility in designing and implementing your investments of your SMSF as you deem appropriate as the SMSF Trustee. Find out more about Investment Strategy.

+ Do I have to complete the documentation emailed to me to establish my SMSF?

No. Importantly the "Establishment Package" documentation is prepopulated with the information provided by you in the online application meaning there is absolutely no requirement by you to complete any documentation. You simply need to review the completed documentation provided and if satisfied, sign and return the documentation via uploading to your client portal or via reply email, together with a certified copy of the Trustees Identification. It could not be easier.

+ Is there a Cooling Off Period?

Yes. We understand that establishing a SMSF is a big decision. So it is acceptable if you change your mind after applying to establish the SMSF. In fact when you receive the Establishment Package to setup the SMSF you will have one month to review the documentation including the SMSF Trust Deed and can cancel the application at any time within that time at no cost to you. Alternatively if you wish to proceed with establishing the SMSF you simply need to sign and return the Establishment Package. It could not be easier. Or fairer!

+ Do I have to provide Certified Identification to establish a SMSF?

Yes. When you return the Establishment Package sent to you for signing after submitting an Online Application you must also provide 100 points of certified Identification. This identification is required to establish the Bank and Broker Accounts for your SMSF.

+ How long does it take to setup a SMSF?

Once you sign and return the Establishment documentation, it takes approximately 4 weeks to establish your SMSF. Find out more about the Setup Process Timeline.

+ How long before I can begin to invest?

When your SMSF has been established, ESUPERFUND will send you a "Final Setup Package" with all your SMSF Details including ABN, TFN, Bank and Broker details. The "Final Setup Package" will include Rollover documentation which will be completed for you. You will need to sign the Rollover documentation and provide supporting documentation evidencing the existence of your SMSF. We will advise you what supporting documentation is required and where to find that documentation. Once you have signed the Rollover documentation and collated the supporting documentation required, you will need to forward it to your current Superfund for processing. The Rollover Process can take as little as one week or as long as one month depending on your current Superfund. Once the Rollover proceeds have been deposited into your SMSF Transaction Bank Account you can invest the monies.

+ Am I locked in or do I have to agree to stay with ESUPERFUND for an agreed period of time?

No. ESUPERFUND do not require you agree or sign up for an agreed period of time. You are free to leave at any time and for any reason. To terminate the services of ESUPERFUND you simply need to notify ESUPERFUND in writing.