In ATO, New Legislation, SMSF

Super Fund Lookup status change for overdue SMSF annual returns

From 1 October 2019, if the lodgment of a self-managed super fund (SMSF) annual return is more than two weeks overdue, the status of the SMSF will change on Super Fund Lookup (SFLU). The new status, ‘regulation details removed’, will remain until overdue lodgments are up to date.

We are taking this approach to protect retirement savings.

On the first business day of each month, we will update SFLU and change the SMSF status to:

  • ‘regulation details removed’ when an SMSF has an annual return more than two weeks overdue
  • ‘complying’ when the SMSF lodges overdue returns during the previous month.

While a SMSF’s status is ‘regulation details removed’:

  • employers will not make any super guarantee (SG) contribution payments into the SMSF for its members. SMSF members should tell their employer to make SG payments into the employer’s default super fund or another fund of the member’s choice.
  • APRA funds will not roll over any member benefits to the SMSF. Once the SFLU status of the SMSF is ‘complying’, members can request a rollover of any member benefits that held outside the SMSF into the fund.

Trustees can avoid their SMSF status changing to ‘regulation details removed. When lodgment may be late trustees should seek a deferral to lodge SMSF annual returns before the due date.

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