Who should complete this statement?
You should complete this Lost members statement (LMS ) if you are a super provider or an authorised supplier of lost member information, and are either:
- required to report information about lost members
- lodging a paper non‑lodgment advice.
Don’t use this LMS if you are either:
End of danger
- reporting for a self‑managed super fund
- lodging for more than 100 members, as you must lodge the information electronically
- reporting small or insoluble lost member accounts. These accounts must be reported as unclaimed superannuation money (USM) as of 30 June 2010. However, if you have previously reported the member as lost and paid the amount as USM to us then you must now use this LMS to report the member as transferred.
Before you complete this statement
Before you complete the LMS, you should refer to Lost members register – for super providers for more information.
To obtain a copy, visit our website at ato.gov.au
When do you need to lodge your LMS?
You need to report lost member information:
- for the half year 1 January to 30 June on or before 31 October in that year
- for the half year 1 July to 31 December on or before 30 April in the following year.
How can you change a previously reported member?
If necessary, you can remove an existing lost member who may have been reported:
- in error
- as transferred
- as lost or inactive and have since been found.
You will need to supply us with an updated LMS for the member.
For updated member information to be accepted:
- all mandatory fields in the LMS must be completed
- the member’s account must be greater than zero.
Also, the information you supply in the updated LMS must match what you previously reported for that member.
This information is the minimum requirement for a LMS to be processed. If you don’t supply the above information, we may fail to match your data with the original record.
Any small or insoluble lost member accounts previously reported on the LMS that are required to be reported and paid to USM must be reported as transferred (T) on the LMS.
End of attention
To ensure that the account that is transferred is removed from the LMR, you must report on the LMS the account details (as described above) exactly as previously reported.
If a member becomes a small or insoluble lost member account for the first time, report the member as unclaimed. There is no requirement for the member to be reported as lost.
Last modified: 06 Feb 2015QC 21218