• Rollover initiation request to transfer whole balance of superannuation benefits to your self-managed super fund

    About this form

    Form for superannuation fund members to transfer their benefits to a self-managed super fund. (NAT 74662)

    You should use the form Rollover initiation request to transfer whole balance of superannuation benefits to your self-managed super fund (NAT 74662) to transfer your super to a self-managed super fund (SMSF).

    How to obtain this form

    You can download this form in Portable Document Format (PDF) – download Rollover initiation request to transfer whole balance of superannuation benefits to your self-managed super fund (NAT 74662, PDF 201KB)

    Danger

    To transfer your super to a fund other than an SMSF, you should complete the form Rollover initiation request to transfer whole balance of superannuation benefits between funds Rollover initiation request to transfer whole balance of superannuation benefits between funds  (NAT 71223).

    End of danger

    Instructions

    You can not use this form to:

    • transfer part of your super balance; you must transfer the whole balance
    • transfer your super if you don’t know where your super is
    • transfer your super from multiple funds on this one form; you must use a separate form for each super fund transfer
    • change the fund to which your employer pays contributions on your behalf. To do this, you will need to complete the form (NAT 13080)
    • open a super account
    • transfer your super under certain conditions or circumstances don’t allow it, for example, if there is a super agreement under the Family Law Act 1975 in place.
    Attention

    Transferring benefits out of a fund may close that account and you may want to check this with the fund you are transferring your super from.

    End of attention

    What happens to my future employer contributions?

    Using this form to transfer your benefits will not change the fund to which your employer pays your contributions, and may close the account you are transferring your benefits FROM.

    If you wish to change the fund into which your employer contributions are being paid, you will need to speak to your employer about super choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit ato.gov.au or call us on 13 10 20.

    Things you need to consider when transferring your superannuation

    When you transfer your super, your entitlements under that fund may cease – you need to consider all relevant information before you make a decision to transfer your super. If you ask for information, your super provider must give it to you.

    Some of the points you may consider are:

    • Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees, and exit or withdrawal fees.
    • Death and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have – other funds may not offer insurance, or may require you to pass a medical examination before they cover you. When considering a new fund, you may wish to check the costs and amount of any cover offered.

    What happens if I do not quote my tax file number (TFN)?

    You are not required to provide your TFN to your super fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate, plus the Medicare levy, on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account.

    If your super fund does not have your TFN, you will not be able to make personal contributions to your super account. Choosing to quote your TFN will also make it easier to keep track of your super in the future.

    Under the Superannuation Industry (Supervision) Act 1993, your super fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another super provider when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee.

    Transferring to your self-managed super fund

    You must use this form to transfer your benefits to your own SMSF.

    You should be aware that SMSFs are subject to the same rules and restrictions as other funds regarding when benefits are to be paid out. In particular, super benefits in a SMSF are required to be ‘preserved’, meaning they are not generally able to be accessed until you are over age 55 and retired.

    The trustee of your FROM fund may be able to request further information from you about your status as a member, a trustee or a director of a corporate trustee of your SMSF. Penalties may apply for providing false or misleading information.

    Completing proof of identity

    You will need to provide documentation with this transfer request to prove you are the person to whom the super entitlements belong.

    Acceptable documents

    The following primary and secondary identification documents may be used:

    EITHER

    A certified copy of any ONE of the primary photographic identification:

    • driver’s licence issued under state or territory law
    • passport issued by the Commonwealth that has not expired within the past two years

    OR

    Any ONE of the following non-photographic identification documents:

    • birth certificate or birth extract issued by a State or Territory of Australia
    • citizenship certificate issued by the Commonwealth
    • pension card issued by Centrelink that entitles the person to financial benefits

    AND

    Any ONE of the following secondary identification documents:

    • notice issued by the Commonwealth, or State or Territory government within the past 12 months that records the provision of financial benefits and contains your name and residential address – for example  
      • letter from Centrelink regarding a government assistance payment
       
    • notice issued by the ATO within the past twelve months that contains your name and residential address – for example:  
      • notice of an ATO assessment
      • notice issued by a local government body or utilities provider within the previous three months – for example, a rates notice from local government.
       

    Have you changed your name or are you signing on behalf of another person?

    If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document – a linking document is a document that proves a relationship exists between two (or more) names.

    The following table contains information about suitable linking documents:

    Purpose

    Suitable linking documents

    Change of name

    Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office

    Signed on behalf of the applicant

    Guardianship papers or Power of Attorney

    Certification of personal documents

    All copied pages of original proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below).

    The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification – for example, Justice of the Peace or Australia Post employee – and date.

    The following people can certify copies of the originals as true and correct copies:

    • a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia as a legal practitioner
    • a judge of a court
    • a magistrate
    • a Chief Executive Officer of a Commonwealth court
    • a registrar or deputy registrar of a court
    • a justice of the peace
    • a notary public officer
    • a police officer
    • an agent of the Australian Postal Corporation who is in change of an office supplying postal services to the public
    • a permanent employee of the Australian Postal Corporation with two or more years of continuous service
    • an Australian consular officer or an Australian diplomatic officer
    • an officer with two or more years of continuous service with one or more financial institutions
    • a finance company officer with two or more years of continuous service (with one or more finance companies)
    • an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having two or more years continuous service with one or more licensees
    • a permanent employee of the Commonwealth with two or more years continuous service
    • a permanent employee of the State or Territory, or State and Territory authority with two or more years continuous service
    • a permanent employee of a local government authority with two or more years of continuous service
    • a member of the Institute of Chartered Accountants in Australia, CPA Australia, or the National Institute of Accountants, with two or more years continuous membership.

    Where do I send the form?

    You can send your completed and signed form with your certified proof of identity documents to your transferring fund.

    More information

    For more information about super, visit the:

    • Australian Securities & Investments Commission (ASIC) website at moneysmart.gov.au
    • ATO website at ato.gov.au/super

    For more information about this form, phone us on 13 10 20.

    End of find out more
    Last modified: 16 Sep 2014QC 35404