• CRT Alert 015/2017

    24 February 2017

    Mandatory reporting of open and closed accounts

    The Legislative InstrumentExternal Link (LI) governing the reporting of opened and closed member accounts was registered on the Federal Register of Legislation on 22 February 2017. The LI requires superannuation providers to report all new and closed member accounts from 31 March 2017 using the SuperTICK3 service.

    There are three exceptions to this requirement:

    • accounts that are closed to contributions
    • accounts that are closed to rollovers
    • accounts that cannot be rolled over.

    Any account meeting one or more of these criteria is excluded from the reporting requirement.

    Funds can test their implementation of SuperTICK3 using the ATO’s external vendor testing environment (ETVE3) by contacting their ATO account manager.

    We recognise there have been performance issues with the SBR2 platform that affect SuperTICK3 response times. We are committed to improving the performance of the SBR2 platform, and we are planning to deploy performance improvements in the coming months.

    A majority of funds have told us they will be ready to implement SuperTICK3 by the due date. If you are not certain you will be able to deploy SuperTICK3 by 31 March 2017 please contact us at SuperStreamStandards@ato.gov.au so we can work with you on alternative options to meet your reporting obligations.

      Last modified: 27 Feb 2017QC 51382