Rollover benefits statement and Death benefit rollover statement information and instructions for transactions from 1 July 2017
You must provide a Rollover benefits statement (RBS) when you pay a rollover super benefit to another super provider. When you roll over a super death benefit to another super provider you must provide a Death benefit rollover statement (DBRS).
You will have met your requirement to provide the RBS or DBRS to the receiving super provider by sending the information electronically under the Superannuation Data and Payment Standards 2012 (the SuperStream Standard).
Where you are unable to send the information electronically via SuperStream you must provide a paper statement to the receiving super provider.
There are two types of statements you (the transferring provider) must provide to the receiving super provider and member when you pay a rollover super benefit from
1 July 2017:
- Rollover benefits statement
- Death benefit rollover statement.
Find out about:
Rollover benefits statement
This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.
End of attention
Use the following version of the RBS for payments occurring from 1 July 2017 that are not a death benefit rollover.
- Check that the rollover data standard does not apply before using the RBS. For more information about the SuperStream standard refer to APRA regulated funds.
Statements to members
If you give a statement to the receiving super provider, using either the RBS or an electronic statement using the SuperStream Standard, you must give the statement to your member within 30 days of the rollover payment. You can use the RBS, or a similar form you create including the same information.
Note: Use the current RBS (NAT 70944-03.2013) to give a statement to your member.
Payments that require an RBS
A rollover superannuation benefit is defined in the Income Tax Assessment Act 1997 (ITAA 1997).
These examples demonstrate when you must provide the receiving super provider with an RBS if you are not already providing all the same information electronically using the data standard.
- When you roll over all or part of your member's super while your member is in the contributions phase, if they choose to have all or part of their super interest rolled over to another super fund.
- When you roll over all or part of your member's super to a super account with another fund from which an income stream will be paid (for example, when they move from an accumulation phase in your fund to a pension phase in another).
- When you roll over a lump sum for your member after they have satisfied a condition of release, if they chose to move their benefits to another super fund.
- When you transfer benefits from your member's super account to their spouse's super account with another fund after accepting an application for contributions splitting or under a family law obligation.
- When you are the trustee of a non-complying fund and are paying member benefits to another super fund.
Payments that don't require an RBS
When you move an amount from one super account to a different super account held by the same trustee (or RSA provider), you don't need to provide an RBS as there is only one trustee involved.
When you make a payment to another super provider for the benefit of a member with a terminal medical condition, this payment is not a rollover superannuation benefit. The receiving super provider is treated as having received a personal contribution from the member.
You don't need to use the RBS when rolling over a death benefit, however you will need to complete a Death benefit rollover statement.
Statement by non-complying funds
If your fund is non-complying, you must provide an RBS if you make a payment to another super provider (including another non-complying fund). You must do this regardless of the fact that these payments are not rollover superannuation benefits. You do not need to complete section C of the RBS.
Last modified: 17 Sep 2021QC 28175