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  • CRT Alert 005/2018

    07 February 2018

    Excess transfer balance determinations

    We have provided you with a sample copy of an excess transfer balance (ETB) determination. This may help you field enquiries from your members who’ve received a determination because they've exceeded their transfer balance cap.

    To get an additional copy or sample ETB determination email SuperCRT@ato.gov.au.

    The first tranche of ETB determinations require individuals to take action by a due date of 3 March 2018. If you are commuting an income stream for a member who has received an ETB determination, you must have actioned the commutation on or before the due date.

    ETB determination webinar

    To help you understand how best to support your members who have exceeded their transfer balance cap, we will host a webinar.

    When: Thursday 15 February 2018 3.00pm–4.00pm

    (NOTE: new start time of 3pm was previously 2.30pm)

    Where: Online – watch from any desktop or mobile device

    Topics for discussion will include:

    • an explanation of the ETB determination and the default commutation notice
    • why, if you are the only fund with accounts listed in the default commutation notice, the value of their account may not match what you reported to us
    • how an individual can see everything that makes up their transfer balance account
    • key dates your members must aware of, why they are important and what you can suggest a member can do if they don’t think they can meet those deadlines
    • what to do if you discover an error in your reporting affects your member’s ETB determination.

    Next Steps:

    If you can't attend you can watch the recording on our website shortly after the event.

    See also:

      Last modified: 09 Feb 2018QC 54536