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  • SMSF Rollovers and Release Authorities v3 Co-design Group key messages 23 April 2021

    Opening address

    The chair welcomed attendees and outlined the agenda of the day.

    Testing update

    Additional validation rules are required within SuperTICK to prevent unsupported characters being used in the messages. The ATO has reconsidered its position and will not be updating validation rules at this time. Consultation will occur with industry before the ATO implements validation rules.

    Rollover version 3 External Vendor Testing Environment (EVTE) became available again from 23 April ahead of the planned recommencement date of 26 April 2021. The ATO are communicating directly with gateways that EVTE is available to resume testing when they are ready.

    Member Account Attribute Service (MAAS) and Member Account Transaction Service (MATS) test data has now commenced. This is expected to take 2–4 weeks.

    Cohort schedule

    The first cohort in the draft schedule commences 17 May, accommodating provided start dates and ensuring appropriate split of Gateways and at least one SMSF provider in each cohort.

    Some cohorts do not have the required number of participants. The ATO will work with those funds as dates approach.

    Cohort testing is scheduled through to 24 September 2021, which is very close to the 30 September 2021 deadline. The ATO recommends funds currently scheduled in those late cohorts bring forward testing dates where possible.

    The ATO has issued welcome emails to funds with upcoming Government to Business testing dates.

    The ATO will publish the cohort schedule fortnightly to reflect date changes provided.

    Implementation and onboarding information

    You may not use TFN provided in the Initiate Rollover Request to update your registry system, or for SMSF Verification Service and Member Verification Service (MVS) checks.

    Timeframe for rollovers to SMSFs are the same as for Australian Prudential Regulation Authority funds - three days once you have all information.

    Obligation to comply with a Release Authority (RA) is met when you have successfully lodged your Release Authority Statement which will be confirmed by a successful Release Authority Statement Outcome Response. Unlike MAAS/ MATS a technical receipt is not sufficient evidence you have met your obligation, as funds can lodge a technically correct message but have it rejected for other reasons, for example, member mismatch, therefore the ATO are unable to process payment/statement.

    Out of band contact from ATO for First Home Super Saver RAs may still occur, however only in exceptional circumstances and would not be expected to be catered for in your regular processes.

    When funds have transitioned to Rollovers version 3, they may receive some inflight paper forms after the cutover date. All paper forms are listed on the communications history screen of online services for business.

    There are no concerns for funds to transition/cutover to Rollover version 3 on a weekend, as the ATO’s first batches do not run until the Monday and support will be available then.

    Digital service providers webpage

    The group discussed and provided feedback on documents detailing Electronic service addresses and SMSF service providers.

    Member verification services

    Members were thanked for providing feedback on the impacts of the Business Portal decommissioning and the MVS not being available during the transition period for Rollover version 3.

    Other business and close

    Rollover User Guide updates to Code V to point to Trustee Voluntary Payments is now live.

    The chair thanked the group for their attendance and participation.

      Last modified: 21 May 2021QC 65728