Overview
When an application for a Self Managed Super Fund (SMSF) registration is lodged with the Australian Taxation Office (ATO), the ATO issues an Australian Business Number (ABN) to the SMSF. As part of its regulatory role, the ATO reviews all applications for SMSF registrations to ensure compliance.
According to the ATO, the objective of auditing an SMSF’s registration is to ensure that the Trustees who establish an SMSF:
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Have no outstanding compliance obligations;
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Are clear about the purpose of setting up an SMSF;
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Have considered whether an SMSF is the right vehicle for them;
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Are aware of the initial and ongoing costs involved in running an SMSF and understand the risks, time and resources required and compliance obligations.
The most important thing is to check that a new SMSF or individuals associated with it are not at risk of illegal early access or non-compliance.
Possible Reasons for the ATO Review/Audit
A Review/Audit might be triggered if the Trustees or the Trustees’ related entities have any outstanding ATO compliance issues. See some examples below:
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Outstanding personal tax returns or poor payment compliance history;
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Involvement with any other SMSFs of concern;
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Previous involvements with companies with poor lodgement history;
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Individuals that have been declared bankrupt.
Please note that the initial review/audit is usually related to your personal compliance records. Since our office is not your personal accountant, the ATO generally cannot disclose detailed outstanding issues to us.
It is important to note that whether and when the ATO conducts a review/audit is entirely at their discretion and out of our control.
To ensure a smooth registration process and address any initial audits effectively, we strongly recommend clearing all personal compliance issues before submitting an SMSF application and staying in contact with the ATO/your case officer.
Key ABN Status Definitions
The ATO will determine if the SMSF is eligible to be regulated and decide whether and how it should be displayed on the external register of super funds, Super Fund Lookup (SFLU).
Depending on the status published on SFLU, the ATO may send you letters requesting further information or documentation, or contact you directly via phone.
| Status on SFLU |
What Does This Mean? |
What will happen? |
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Election to be regulated being processed
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After an ABN has been issued to your SMSF, it will be listed on SFLU with this status, indicating that the SMSF registration is being reviewed by the ATO.
Based on our experience, it typically takes the ATO 7 days to update your SMSF status to “Registered” or “Complying” if there are no concerns. However, the ATO may take up to 56 days to finalise this review process.
At this stage, the SMSF is registered, but it cannot receive contributions from employers or rollovers from third parties. Personal contributions are accepted.
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The ATO may contact you via phone for further information or send a letter titled “We've reviewed your application for self-managed superannuation fund registration” to your personal postal address.
This letter will typically outline the outstanding items requiring your attention. Please follow the instructions provided to resolve these issues with the ATO.
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Registration Details Withheld
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This means the ATO still has concerns at the end of the review process and an initial audit is required.
At this stage, the SMSF is registered, but it cannot receive contributions from employers or rollovers from third parties. Personal contributions are accepted.
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The ATO will assign a Case Officer to conduct the initial audit of your SMSF registration. Generally, the Case Officer will contact the Trustees directly via phone.
If further documentation is required, a letter titled “We are auditing your application for self-managed superannuation fund registration” will be sent to your personal postal address. This letter will specify the outstanding items that require your attention, a list of requested documents, and instructions on how to arrange a phone interview with the Case Officer.
Please follow the instructions to provide the required information and finalise the audit. For more details, see the section “Actions Involved to Resolve the Initial Audit.
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Registered or Complying
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This means the SMSF is not at risk, or the initial concerns have been addressed during the review process.
The SMSF can now receive contributions and rollovers from third parties.
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No further action is required from you regarding the ATO registration.
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Actions Involved to Resolve the Initial Audit:
1. Prepare for the ATO Interview:
A dedicated ATO case officer will contact you to schedule a phone interview. The purpose of the interview is to ensure all trustees have the necessary knowledge to manage the SMSF effectively.
2. Gather Required Documentation:
All the documents we have on file for your SMSF will be listed under the “Dashboard - Supporting Documents” menu tab. Refer to the list of common documents needed for the ATO interview below:
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Trust Deed
Document Description: Trust Deed
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Investment Strategy
Document Description: Investment Strategy
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Meeting Minutes
Included in the Document Description: Setup Minute
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Signed ATO Trustee Declaration Form (publication number NAT 71089)
Included in the Document Description: Setup Minute
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Invoices of any fees paid
Document Description: SMSF Setup Fee
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Payments intended to be made.
Document Description: Fee Schedule
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Other Documents
The ATO may also request documents such as the Acquisition of assets for the SMSF or details of the Rollover. Please provide the documents to the ATO if applicable.
3. Establish a Bank Account:
To conclude the audit, the ATO typically requires a bank account in the name of the SMSF.
For ANZ to process the bank application with this ABN status, you will need to provide certified extracts of the Trust Deed (i.e., Cover Page, Schedule 2 Page, Signature Page). A copy of the signed Trust Deed can be found under the "Dashboard - Supporting Documents - Trust Deed" menu tab. Please bring the original signed Trust Deed along with a copy of the documentation to a prescribed person for certification.
Once certified, return the documentation to our office via the Inbox. We will then forward the documentation along with your bank application to ANZ for processing.
Alternatively, you may establish a bank account with your preferred bank under your Superfund Name if desired. However, our office will not be able to access the account data for your account.
4. Submit Documentation:
Submit the required documentation to the ATO following the instructions provided in their letter.
5. Follow Up with the ATO:
After submitting the necessary information, stay in contact with the ATO case officer for any additional requirements.
Review/Audit Result
Upon completion of the audit of your application to be registered as an SMSF and regulated by the ATO, the ATO will notify you directly of the result. You will receive either a phone call from your ATO case officer or a letter titled “We have finished our audit of your superannuation fund registration,” sent to your postal address, detailing any further actions required from you.
If the ATO is satisfied that you have provided enough information to complete your registration, they will list your SMSF on the external register, Super Fund Lookup (SFLU), with the status “Registered” or “Complying”. SMSFs with this status can accept rollovers and employer contributions.
If the ATO’s case officer determines that the Trustees were unable to demonstrate their capacity to operate the SMSF within super laws, the ATO will withhold the ABN of your SMSF from the external register, Super Fund Lookup (SFLU). The SMSF’s status will remain as “Regulation details withheld”. This means your SMSF may experience delays when receiving rollovers from other super funds and super guarantee payments from employers. Only personal contributions can be made to the SMSF. The reason for the decision will be detailed in the letter titled “We have finished our audit of your superannuation fund registration”.
Request to Review Audit Result
If you disagree with the ATO’s decision to withhold your SMSF details from the external register, Super Fund Lookup (SFLU), and you still wish to proceed with the SMSF registration, you should request a review with the ATO. This request must be in writing, signed, dated, and include details of why you believe the ATO’s decision is incorrect. More information about your right to request a review is provided in the letter titled “We have finished our audit of your superannuation fund registration”.
In most cases, the ATO usually indicates that there is an opportunity for the SMSF to be listed on the SFLU after lodging its first Annual Return.
Example Scenarios:
Assuming your Fund was established on 31 July 2023 and the status is “Regulation Details Withheld”
Case 1
If you made personal contributions to the SMSF before 30 June 2024, the SMSF would be activated in the 2024 Financial Year, making 2024 the first Annual Return. You can then request a review after lodging the 2024 Annual Return with the ATO.
Case 2
If you made personal contributions to the SMSF after 30 June 2024, the SMSF would be activated in the 2025 Financial Year, making 2025 the first Annual Return. You need to submit a Return Not Necessary (RNN) Request for the 2024 Financial Year to the ATO and lodge the 2025 Annual Return. You can then request a review of the audit result with the ATO.
The ATO will then decide whether and how your SMSF will be displayed on Super Fund Lookup (SFLU).
We strongly suggest contacting your case officer directly for details regarding the audit process and completing the audit review process as soon as you receive the ATO Audit letter. In some circumstances, the ATO Case Officer will need to discuss personal affairs with you, which ESUPERFUND cannot advise on or assist directly.