Self-managed super funds - trustee declaration

Do not send the declaration to us. It must be retained by the fund's trustees.

What is the trustee declaration?

All new trustees (and directors of corporate trustees) of a self-managed superannuation fund (SMSF) are required to sign a declaration, in the approved form, within 21 days of becoming a trustee or a director of the corporate trustee. The declaration aims to ensure that new trustees (or directors of corporate trustees) understand their obligations and responsibilities.

The declaration lists key matters that you must understand in order to effectively manage an SMSF, including information about:

• the sole purpose test
• general trustee duties
• investment restrictions
• record-keeping, reporting and lodgment obligations.

Read this in conjunction with Self-managed super funds - Key messages for trustees (NAT 71128).