• CRT Alert 013/2016

    Lost Member Report (LMR) re-report 2016

    Action required

    For those funds who have not lodged or have been advised to re-lodge their LMR re-report please reply to CAS-LMR&USM product team to confirm your intention to lodge the LMR re-report with the expected date ASAP.

    Background

    The Lost Member Report (LMR) re-report for the period ending 31 December 2015 is due to be lodged with the ATO by Tuesday 31 May 2016.

    To date 145 funds have lodged their LMR re-report, we are expecting approximately 260 funds to lodge an LMR re-report.

    Thank you to those funds that have lodged.

    Information to include

    • All lost (L) and inactive (I) members held by the fund as at 31 December 2015
    • Provider details – ensure that this contains the full registered name of the fund
    • Supplier details – ensure that this contains the
      • full registered name of the supplier, and
      • contact details of the person lodging the form
       

    Information not to include

    Do not include any lost accounts that:

    • are Found (F), Transferred (T), or reported in Error (E)
    • have account balances under $4,000 (excluding defined benefit accounts)
    • were in the USM Statement lodged prior to 30 April 2016
    • belong to deceased members or to members who are over 65 years of age, where they meet the Unclaimed Super Monies tests
      • It is recognised that certain lost accounts for members over age 65 and deceased may not meet the Unclaimed Superannuation Money tests, but still meet the lost definition, and these accounts should still be included in the full Lost Member re-report.
       

    This information has been updated from the original article in the February 2016 monthly communique. We have also combined the two dot points that referred to deceased members and members who are over 65 years of age.

    An Outcome of Lodgement Report (OOLR) will issue either via ECI or paper, 3 business days after the LMR re-report processes in our system.

    For more information

    If you require any assistance or clarification please email CAS-LMR&USM product team as a priority.

      Last modified: 25 Nov 2016QC 50604