Lost members register - protocol document

Penalties

A super provider may be found guilty of an offence or liable to an administrative penalty where:

• you fail to give the Commissioner a statement by the due date
• administrative penalty - ranging from one to five penalty units for each period of 28 days or part thereof that the statement is overdue, up to a maximum of five penalty units
• offence - 20 to 50 penalty units and/or possible imprisonment for up to 12 months
• the statement given to the Commissioner is false or misleading in a material particular
• administrative penalty - 20 to 60 penalty units, as the base penalty amount for each false or misleading statement
• offence - 20 to 100 penalty units and/or possible imprisonment for up to two years
• you do not keep records that record and explain all transactions and other acts engaged in, or required to be engaged in, by the provider, in English or so that the records are easily accessible and convertible into English. The records must be kept for a period as defined in the tax laws
• penalty for offence - maximum penalty 60 penalty units ($6,600)
• you incorrectly keep accounts or records and they do not correctly record and explain the matters, transactions, acts or operations to which they relate, or as they are required under taxation law
• penalty for offence - 20 to 40 penalty units ($2,200-$4,400)
• you incorrectly keep accounts or records and you are reckless in the making of, or recording and explaining of, matters, transactions, acts or operations as to whether the accounts or records are correctly recorded and explained
• penalty for offence - 30 to 50 penalty units ($3,300-$5,500) and/or possible imprisonment for up to 12 months
• you incorrectly keep accounts or records with intent to deceive, mislead, hinder or obstruct the Commissioner or an ATO officer
• penalty for offence - 50 to 100 penalty units ($5,500-$11,000) and/or possible imprisonment for up to two years.

Sections within The law

• What is a lost member?
• When is a member uncontactable?
• When is a member inactive?
• Transfer of lost member
• Verified
• Permanently excluded
• Contact the super provider
• Can a member be reported as lost even if they satisfy the permanent exclusions?
• Reporting requirements
• Previously reported members
• Do members with nil or negative amounts have to be reported as lost?
• What is the approved form?
• What if I can't lodge the form by the due date?
• Penalties