2017 Annual Compliance Procedure

What are the SMSF Annual Compliance Requirements?

Your SMSF must attend to certain annual reporting requirements each and every year. These include:

  • Preparation of an annual Balance Sheet
  • Preparation of an annual Profit & Loss Statement
  • Preparation of annual Member Statements
  • Preparation of annual Trustee Resolutions & Minutes
  • Preparation of an annual Income Tax Return
  • Preparation of an annual Audit
  • Lodgement of the annual Income Tax Return

Review and Complete the Online Checklist

To complete the above annual compliance requirements, ESUPERFUND receives electronic data from the SMSF Bank and Broker established by us. Importantly we only have access to the data and have absolutely no transaction access to your SMSF Bank or Broker Accounts.

ESUPERFUND has uploaded the data received for your SMSF for the 2017 Financial Year into an Online Checklist for your review. We advise that in order for us to complete the 2017 requirements for your Fund, we request that you review the Online Checklist and provide additional information where requested.

What’s New in the 2017 Checklist?

We continue to improve the Online Checklist to provide you with a better user experience and to ensure that you receive convenient online solutions.

The following major new features have been integrated into the 2017 Online Checklist:

  • The “Questions & Answers” page which used to be the first step of the Online Checklist has been removed. Instead, the questions will be asked as you progress through the different steps of the Checklist.
  • On the “Bank” page of the Checklist, the information already provided by you on the “Bank” section of the client portal has been replicated, therefore you do not need to provide the same information twice.
  • You can now further code rollovers, contributions, withdrawals and insurance (e.g. by selecting a member etc.) on the “Bank” page. In the past, you were only allowed to provide member-level information when you proceeded to the later steps. To further code a transaction, you simply need to click on the “Amount” under the “Debit/Credit” column and a pop-up message will appear to collect further information. The information will be stored and you will not be required to provide it again when you proceed to the later steps.
  • On the “Other Assets” page, we have provided free property valuation services based on RP Data for the residential property purchased by you prior to 1 July 2016. You may choose to use the market value suggested by ESUPERFUND or enter your own estimation. For the residential property purchased in the 2016/2017 Financial year, you can also choose if you would like to use our free property valuation services.
  • On the “Bank”, “Term Deposit”, “Off-Market Transfer”, “Contributions” & “Insurance” pages, you can now denote transactions and upload any supporting documentation at the same time and on the same screen. Previously you were only allowed to upload supporting documentation when you proceed to the “Upload” step.

If you have any queries when completing the Online Checklist, please click on the “Instructions” symbol located on the top right corner of each individual page.

If you encounter any problems or if you would like to suggest enhancements, please simply reply to this message and attach any documentation. Your valuable opinions and patience will be highly appreciated by ESUPERFUND. As always, we strive to provide you with the best possible user experience for your Annual Online Checklist.

ESUPERFUND Takes Care of your SMSF Annual Compliance Requirements

On receipt of the 2017 checklist information, we will attend to the preparation of the annual compliance documentation.

Please note that we may send Inbox messages to you if we require further information in order to finalise the compliance requirements.

On completion, you will be notified that the annual compliance documentation is ready for review and signing from the Client Portal.

For more information on ESUPERFUND’s Annual Compliance Procedure, please click here.

Submit the Online Checklist at Your Earliest Convenience

ESUPERFUND completes Tax Returns in the order in which the Online Checklist is submitted. Accordingly, please complete and submit the Online Checklist at your earliest convenience to ensure prompt lodgement of your SMSF’s Tax Return.


+ How do I make changes to the Online Checklist after submission?

We advise that you cannot amend the Checklist after its submission. If you would like to make changes, please simply provide the updated information to our office via the "Additional Information Upload" function of the 2017 Online Checklist.

We will take note of the updated information when completing the Annual Compliance Documentation for your SMSF.

+ What is the "Additional Information Upload" function?

We advise that the "Additional Information Upload" function enables you to upload additional information to your 2017 Online Checklist after its submission.

To use the "Additional Information Upload" function, please open the 2017 Online Checklist and then click the "Additional Info" tab. Please then follow the instructions provided on that page to upload documentation.

+ What happens after I have submitted the Online Checklist?

Your file is placed in a queue in the order in which the Online Checklist is submitted until an accountant is assigned to your file.

The accountant will review the information provided by you in the Online Checklist and the supporting documentation. You will be contacted via email if further information is required.

After we have completed the Annual Compliance Documentation for your SMSF, you will receive an email from our office. You can then follow the instructions enclosed in that email to review and sign the Compliance Documentation.

+ How long will it take to process my Annual Compliance Documentation?

Based on current planning levels, the average completion time is 3 to 4 months from the day you submit the Online Checklist depending on your Fund’s circumstances. However if your Checklist is submitted in the peak season (September ~ October), the waiting period may exceed 4 months due to the high amount of Checklists received during that time.

If you have not received any communication from our office within 4 months of submitting your Checklist, please do not hesitate to contact our office.

+ How can I improve the processing time of my Annual Compliance Documentation?

To ensure that your Fund's Annual Compliance Documentation is processed as quickly as possible, please check your Fund's registered email account regularly. If we request further information, please provide the required information to our office as soon as it becomes available.

To ensure that you remain contactable at all times, please update your contact details through your client portal here every time you change your contact details.