Excess transfer balance election form instructions

Form and instructions for the Excess Transfer Balance Election.

Last updated 7 January 2018

Lodging an Excess transfer balance election form

The information you give us in the Excess transfer balance election form allows us to issue a commutation authority to a different super income stream account or provider to the one identified in the default commutation notice attached to your excess transfer balance determination.

Note: Once an election has been made it is irrevocable. That is, you will not be able to withdraw or amend your election.

How to get this form

You can download the form in Portable Document Format (PDF) – Excess transfer balance election form (NAT 74920, PDF, 141KB)This link will download a file.

When to lodge this form

Complete this form when all of the following occur:

you have received an excess transfer balance determination
you do not choose to voluntarily commute the amount stated in your excess transfer balance determination
you want us to send a commutation authority to commute the required amount from one or more different super providers or income streams than the one specified in your default commutation notice.

You have 60 days from the issue date of your excess transfer balance determination to make an election. Lodge the election form with us as soon as practicable after you receive your excess transfer balance determination to ensure we receive your election within the required timeframe. This will allow us to process your election and send a commutation authority to your selected super income stream account or provider.

Extension of time to make an election

If you require longer than 60 days from the date of issue of your determination to lodge your election form, you can request an extension of time by contacting us on 13 10 20.

Where to send this form

Lodge this form by fax or post.
Use the fax number or postal address provided on the form.
Ensure that you complete all parts of the form and sign the applicable declaration before posting or faxing your form to us.

Completing an Excess transfer balance election form

These instructions are in the same order as the questions on the Excess transfer balance election form.

Section A: Your details

It is important that you complete the information in Section A correctly to avoid delays in processing your election.

Question 1: Tax file number (TFN)

Print your tax file number.

You do not have to provide your TFN to us. However, it will help us identify you correctly and process your form quickly.

Question 2: Name

Print your:

family name
first given name
other given names as applicable.

Question 3: Current residential address

Print your current residential address.

Question 4: Date of birth

Provide your date of birth to avoid delays in processing your form.

Section B: Excess transfer balance details

Question 5: Issue date on your Excess transfer balance determination

Print the issue date of your excess transfer balance determination. The issue date is located in the top right hand corner of your determination.

Section C: Superannuation income streams to be commuted

Question 6

Complete this section using the details of the superannuation income streams that you wish us to send a commutation authority for. More than one super provider or income stream can be listed to reach the required amount.

You can only elect to commute an income stream that is being paid to you.

Generally you cannot commute an income stream that is a capped defined benefit income stream. Capped defined benefit income streams include:

certain lifetime pensions, regardless of when they start
certain lifetime annuities that existed prior to 1 July 2017
certain life expectancy pensions and annuities that existed prior to 1 July 2017
certain market-linked pensions and annuities that existed prior to 1 July 2017.

If you are receiving an income stream, you should check with your super provider to determine if it is a capped defined benefit income stream and whether it can be commuted, before including it in your election.

Super provider name

Print the super provider name.

Super provider ABN

Print the Australian business number for the super provider, if available.

Account number

Print the account number for the superannuation income stream.

Election amount

Print the amount that you want commuted from the specified account.

Note: The total amount for all income streams you have elected to commute cannot exceed the amount stated on your excess transfer balance determination.

If your excess transfer balance has not been fully commuted after we have sent a commutation authority to your elected fund we will send a commutation authority to a subsequent super provider.

Section D: Declarations

There are two declarations on this form:

one for an individual completing the form for themselves
one for an agent or authorised officer who is completing the form on behalf of another person.

Complete the declaration that applies to you.

Print your full name, then sign and date the declaration. Provide your business hours phone number (including area code) to allow us to contact you if any of the information contained in the form requires clarification.

Individual declaration

Complete this declaration if you are the individual shown in Section A.

Authorised representative declaration

Complete this declaration if you are an agent, intermediary, authorised officer or representative of the individual shown in Section A.

Contact us

Phone us on 13 10 20
Our phone lines are open Monday to Friday 8.00am to 6.00pm, unless otherwise indicated on our website.
We can offer a more personalised service if you provide your tax file number (TFN) when you phone us.

Note: If you require access to your ATO records you will be asked to prove your identity by providing your personal details. These may include your TFN and other personal details.

Hearing, speech or vision impairment

If you are deaf or have a hearing or speech impairment you can contact us through the National Relay Service (NRS). There are two easy steps:

select your preferred NRS access point
provide the ATO number you need to call.