Guide to self-managed superannuation funds

SMSF annual return

All SMSFs need to lodge an SMSF annual return with us each year, in order to:

report income tax
report super regulatory information
report member contributions
pay the supervisory levy.

The lodgment and (where applicable) payment dates are:

for SMSFs that are not new registrants and prepare their own annual return - 31 October
for new registrants - 28 February
for returns prepared by tax agents - according to the tax agent lodgment program.

You can't lodge the SMSF annual return until the audit of your SMSF has been finalised, as information from the audit report is required to complete the regulatory information in the return.

Failure to lodge your SMSF annual return by the due date can result in penalties and the loss of your SMSF's tax concessions.

To download the SMSF annual return (NAT 71226) and instructions (NAT 71606), refer to Self-managed superannuation fund annual return.

Newly registered self-managed super funds

If your fund is newly registered but has not begun operating, you may not have to lodge an annual return or pay the supervisory levy of $180.

You can ask us to cancel the ABN, which can be re-registered when the fund has assets that are set aside for the benefit of members. If the fund has now received a contribution or a rollover amount, you can notify us in writing or by fax on 1300 550 356 advising us that the SMSF:

was registered in the financial year
was not operating by 30 June
had not received contributions or rollover amounts by 30 June
has now received contributions, including the date that the first contribution was received by the fund.

Write to us at:

Australian Taxation Office
PO Box 1128
Penrith NSW 2740

Amending your SMSF annual return

To amend any part of your SMSF annual return, you need to lodge a complete amended return:

Order or print out the paper version of the annual return (NAT 71226) - you need to use the paper form whether the original return was lodged using a paper form or electronically using ELS.
Complete the form in full, not just the parts you want to amend.
Let us know it's an amendment by checking 'Yes' at question 5.
Send the form to us.

You can't request amendments via written correspondence or by using the form Request for amendment of income tax return lodged by tax professionals (NAT 71837).

The SMSF annual return is more than an income tax return. You also provide important regulatory information and contributions information about each member. This information is inter-related - changing one label on the form is likely to require labels in other sections of the form to be amended too. For this reason we need you to always complete the form in full, not just the parts you want to amend, and provide contributions information for all members, not just the member whose contributions you need to change.

For example, suppose an SMSF annual return overstates the employer contributions reported for one of its two members by $1,000 due to an arithmetic error made when preparing the return. To correct the error a new annual return is lodged reporting all information as previously reported, but with amendments to:

income and tax information at sections B and D
member information at section F
assets and liabilities at section H.

You can obtain a paper version of the SMSF annual return (NAT 71226) by:

downloading the form from Self-managed super funds - home and printing it out

ordering the form through the ATO Publication Ordering Service.

Self-managed super funds - home

Sections within Reporting, record keeping and administration

Last Modified: Thursday, 28 February 2013