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  • Super Transfer balance account report instructions

    Use the Super transfer balance account report (report) to advise us when a transfer balance account event occurs. We use this information to adjust your member’s transfer balance account so we can correctly apply the transfer balance cap provisions.

    You can also use this report when we need more information to calculate your member's total super balance.

    The following information will help you to complete the report. These instructions are in the same order as the questions on the report. For information on the terms used in these instructions, see Definitions.

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    Lodging your report

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    How to get this report

    You can download this report in Portable Document Format (PDF) – download Super transfer balance account report (PDF, 460KB)This link will download a file.

    Who should lodge a transfer balance account report

    If you are a super provider or life insurance company, complete this report when:

    • a transfer balance account event has occurred
    • further information is required to calculate a member's total super balance
    • further information is required to determine a member’s concessional contributions amount
    • incorrect information has previously been reported to us.

    Events you must report

    If you are a super provider, including a self-managed super fund (SMSF), you are required to report the following events:

    • super income streams in existence just before 1 July 2017
    • any of the following events that occur on or after 1 July 2017    
      • super income streams that have commenced in retirement phase
      • limited recourse borrowing arrangement payments
      • member commutations
      • compliance with a commutation authority issued by the Commissioner
      • personal injury (structured settlement) contributions
      • super income streams that stop being in the retirement phase, for example because the trustee failed to meet the minimum pension payment standards for an income stream.
       

    Where more information is required to calculate a member’s total super balance or concessional contributions amount to meet legislative requirements, you are required to report:

    • 30 June accumulation phase value
    • 30 June retirement phase value (from 30 June 2018)
    • uncapped notional taxed contributions amount.

    Separate reports for each member

    Complete and lodge separate reports for each member. You can report a maximum of four events for a member – if you have more than four events to report for a member you must lodge multiple reports.

    Child death benefit income stream or a child reversionary income stream

    If you are reporting a child death benefit income stream or a child reversionary income stream you can only report one event per report. If you need to report multiple child death benefit income streams or child reversionary income streams per member you must complete multiple reports.

    Correcting information

    If you need to correct information you have already reported to us, you must cancel the original report and then lodge a separate report with the correct information.

    No report needed

    You do not need to report pension payments, investment earnings/losses or when an income stream is closed because the interest has been exhausted.

    Timeframe for lodging

    If the reporting event is in response to a commutation authority we issued, you must lodge the report within 60 days of the date of issue on your commutation authority. Refer to your commutation authority for the lodgment due date.

    Generally, in all other circumstances different timeframes for lodging the report apply to different providers.

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    Failure to lodge

    If you do not lodge the report by the required date:

    • your member’s transfer balance account and total super balance may be adversely affected
    • you may also be subject to compliance action and penalties.

    See also:

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    Last modified: 30 Nov 2017QC 53363