Setting up a self-managed super fund

Structuring your fund

For your fund to be an SMSF it must meet several requirements under the super laws.

The requirements can vary depending on whether your fund has individual trustees or a corporate trustee. Some additional rules apply to funds with only one member (see below).

If your fund has individual trustees, it is an SMSF if all of the following apply:

• it has four or fewer members
• each member is a trustee
• each trustee is a member
• no member is an employee of another member, unless the members are related
• no trustee is paid for their duties or services as a trustee.

If your fund has a corporate trustee, it is an SMSF if all of the following apply:

• it has four or fewer members
• each member of the fund is a director of the trustee company
• each director of the corporate trustee is a member of the fund
• no member is an employee of another member, unless the members are related
• the corporate trustee is not paid for its services as the trustee
• no director of the corporate trustee is paid for their duties or services as director of the corporate trustee.

Members who are under 18 years old are under a legal disability and cannot be trustees of a super fund. For more information, see Minors.

Sections within Preparing to set up your fund

• Structuring your fund
• Single member funds
• Types of trustees
• Legal personal representatives
• Trustee eligibility
• Having a resident fund
• Check your progress