www.esuperfund.com.au

Questions & Answers - Rollovers


+ How do I Rollover my current Super Benefit?

Once your SMSF has been established you will be able to transfer your existing Super Benefit to your new SMSF. The process to do this is can be found here.

+ What is my SPIN or Member Number?

Your SMSF does not have a SPIN Number and ideally this field should be completed as "Not Applicable" in the Rollover Form. If however your current Superfund requires this field to be completed, you should answer this question with MEMBER 1 or MEMBER 2 or MEMBER 3 or MEMBER 4 depending on which Member the Rollover relates to. That is if you have setup a SMSF with your Spouse you would be MEMBER 1 and your spouse would be MEMBER 2. It does not matter who you allocate as MEMBER 1,2,3 OR 4 as ESUPERFUND will check which Member the Rollover relates to as part of the annual compliance process.

+ What is my SMSF SFN?

This number is not relevant and this field should be completed "Not Applicable".

+ What is my SMSF ABN?

Your SMSF ABN will be issued to your SMSF by the ATO and we will notify you of this number immediately on receipt. As a general guide it can take up to 4 weeks after you have returned the signed setup documentation to our office for the ATO to issue the SMSF ABN. Once your ABN has been issued you can find it on the ABR Register here.

+ Where is my Rollover Cheque sent to?

In most cases your existing Super Benefit is paid by cheque. The address to send your Rollover Cheque can be your home address or our address (PO Box 401 North Melbourne Victoria 3051). Please be advised that on the ATO ABR Register which records your SMSF details our address is listed as the SMSF's address for correspondence. This is necessary as all tax documentation for your SMSF must come to our office given we are the SMSF's Tax Agent. This documentation is in turn forwarded to you for actioning where required. All non tax documentation will still be sent directly to your home address. Given we are listed on the ATO ABR Register your existing Superfund may insist that the rollover cheque is forwarded to our postal address. This is acceptable and we will bank the Rollover Cheque into your SMSF's Transaction Bank Account for you immediately upon receipt.

+ My Rollover Cheque has been sent to ESUPERFUND. Should I be worried?

Given we are listed on the ATO ABR Register your existing Superfund may insist that the rollover cheque is forwarded to our postal address. This is acceptable and we will bank the Rollover Cheque into your SMSF's Transaction Bank Account for you immediately upon receipt. Please be aware that your monies are completely safe as the Rollover Cheque is made in the name of your SMSF and can only be deposited in an account with the name.

+ What does "Complying Status: Registered - Status not determined" mean?

When you look up the status of your SMSF in the ABR Register the SMSF may be listed as a 'Registered - status not determined' SMSF. This means that your SMSF:

  • is registered with an ABN
  • is regulated, and
  • has not been issued with a Notice of Compliance.

There is no issue with your SMSF having this status. This status means that your SMSF is a Registered Regulated SMSF that can accept Rollovers and Contributions.

+ What is a Notice (Letter) of Compliance?

Some Superfund's or your Employer may request that you provide a Notice of Compliance before rolling over or contributing to your SMSF. Please note that the Tax Office will only issue a Notice of Compliance after the SMSF has lodged an SMSF annual return and the SMSF's compliance status has been determined. You will still be able to Rollover your Super Benefit or contribute to the SMSF without a Notice of Compliance. If your Existing Superfund advises that a "Notice (Letter) of Compliance is required to Rollover your Super, you must advise them that this is not the case. In the event they continue to refuse to rollover your Super a complaint must be lodged in accordance with your Existing Superfunds Financial Services Guide (FSG) or directly to the Financial Ombudsman on 1300 78 08 08 or www.fos.org.au.

+ My Existing Superfund is asking for my SMSF Trust Deed. Where can I find this?

In some cases your existing Superfund will request that you provide them with a copy of your SMSF Trust Deed or extracts of that Deed. The SMSF Trust Deed was included in the original documentation mailed to you to establish your SMSF and was retained by you. You will need to locate this Trust Deed if requested by your Existing Superfund as only you hold the original Trust Deed. ESUPERFUND does not hold your original Trust Deed or a copy of the Trust Deed.

+ My existing Superfund is asking for additional information about my SMSF. What should I send them?

When your SMSF has been established ESUPERFUND will send you an "Final Establishment Package" with all your SMSF Details. The Establishment Package will specifically include the following documents:

  • ABN Notification
  • TFN Notification
  • Notice that the SMSF is Regulated

If you existing SMSF requires additional information then a certified copy of these notices from the ATO should be provided to them. Where this information is provided together with your SMSF Trust Deed, and your existing Superfund continues to refuse to rollover your Super, a complaint must be lodged in accordance with your Existing Superfunds Financial Services Guide (FSG) or directly to the Financial Ombudsman on 1300 78 08 08 www.fos.org.au.