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  • CRT Alert 086/2017

    21 December 2017

    Correcting Structured Settlements (SSP) in MATS

    The Member Account Transaction Service (MATS) documentation outlines how to correct amounts reported through MATS. This includes correcting ‘Personal Injury/Structured Settlement’ (SSP) amounts.

    This alert is to clarify that the process to correct SSP amounts is to cancel the previously reported amount and then submit the corrected amount.

    The MATS Business Implementation Guide (BIG) instructs that SSP amounts should be reported under the non-employer transaction category. This may suggest that SSP amounts can be corrected by either cancelling and re-reporting, or by reporting the difference (the adjustment/delta amount).

    SSP can only be corrected by cancelling and re-reporting (using the cancel and submit interactions), as these amounts impact a member's transfer balance cap. This is consistent with the current Transfer Balance Account Report (TBAR) reporting practices.

    The cancel and submit interactions are outlined in the MATS BIG.

    The MATS BIG will be updated by June 2018 to better reflect the SSP correction process.

    See also:

    • Access the MATS BIG under the Super Member (SPRMBR)External Link heading on Note: the MATS BIG is referred to as ATO SPRMBRACCTX Business Implementation Guide.

    Foundation data for event-based reporting – MAAS

    The Member Account Attribute Service (MAAS) will be the new event-based reporting service that only requires you to report when there are changes to members’ account attributes. It will also replace the existing Lost Member Statement.

    We advised you in our December Communique, that we need to initially populate the MAAS with accurate and complete Foundation Data, as some attributes may not be reported or updated for some time.

    We have been working in close consultation with industry to develop a Foundation Data strategy. We have discussed and evaluated a number of alternatives for the best approach for both funds and the ATO and agree that the best option will be for funds to report this initial Foundation Data to us.

    The following information outlines the general Foundation Data Strategy however we will be issuing more comprehensive guidance around your Foundation Data and on-boarding obligations in the New Year.

    How to report your Foundation Data

    You can start reporting your Foundation Data to us from April 2018 and you need to provide all Foundation Data by October 2018. To do this you should:

    • report your Foundation Data through MAAS using the submit (Maintain Member Account) interaction. The details of this interaction are outlined in the Business Implementation Guide (BIG).
    • use the interaction reason code ‘New Member’. Note: This will result in warnings where an account has already been successfully reported via SuperTICK but not the Member Contributions Statement (MCS), however no action is required.
    • send data through in batches - we will work with you to schedule the size and frequency of these batches and the period of time you will report them.

    Accounts to include in your Foundation Data:

    The accounts you need to include in your Foundation Data will depend on the date you on-board to the MAAS:

    If you on-board to MAAS before 1 July 2018:

    • only include accounts that are open as at your on-boarding date
    • don’t include accounts that are actually closed (as opposed to those closed to contributions) – these would be reported via the 2017–18 MCS.

    If you on-board to MAAS on or after 1 July 2018:

    • include accounts that are open as at your on-boarding date
    • include accounts open on 1 July 2018, or opened from 1 July 2018, but closed prior to your on-boarding date, unless the account has been reported as closed via SuperTICK.

    Note: you will need to report account identifiers in your 2017–18 MCS that align with how you reported them through MAAS.

    Managing the matching responses

    You will receive matching responses when you report your Foundation Data. Details of matching responses are outlined in the BIG.

    Where you receive an unmatched response you are not obligated to treat these as ‘please resolve’ notices, however we would encourage you to take reasonable steps to verify the member information you hold.

    If you don’t wish to process these unmatched responses you will need to contact your gateway provider to filter the responses.

    Next steps:

    See also:

      Last modified: 22 Dec 2017QC 54140