Guide to self-managed superannuation funds

Winding up an SMSF

To wind up your SMSF you need to:

• notify the ATO within 28 days
• deal with all the assets of the fund so that the fund has no assets left
• arrange a final audit of your fund
• complete your reporting responsibilities, including lodging your Self-managed superannuation fund annual return and finalising any outstanding tax liabilities.

There are a number of reasons why you might need to wind up your SMSF:

• All the members and trustees may have left the SMSF (for example, they may have died).
• All the benefits may have been paid out of the fund.
• The fund may no longer meet the definition of an 'Australian superannuation fund' because the trustees have moved overseas permanently.
• You may have found that you're not ready for the complexity of the law surrounding SMSFs and the time it takes to manage an SMSF.

In some cases you'll be able to pay benefits to members when you wind up your SMSF. In other cases the members won't be able to, or won't want to, take their benefits so you'll need to roll them over to another super fund.

	Once the fund is wound up, it can't be reactivated.
	For more information, refer to Winding up a self-managed super fund (NAT 8107).
	Self-managed super funds - home

Sections within Winding up an SMSF

• Notify us
• Deal with members' benefits
• Arrange a final audit of your fund
• Complete your reporting responsibilities