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  • CRT Alert 002/2019

    Excess contributions and Division 293 release authority statements issues.

    We are aware of issues impacting some Excess Contributions and Division 293 release authority statements.

    Release authority statements issuing to the incorrect address within the right fund

    Late last year we identified some release authority statements (RAS) we issued went to the correct fund, but not the correct address within the fund for this type of work.

    As a result, we understand this may take you longer than the usual 20 business days allowed to locate and process these RAS.

    While we will not be enforcing the 20 business days requirement in these specific circumstances, we would appreciate you actioning these as soon as practical.

    No debt action will be taken against the affected clients we have identified.

    Maintenance to correct this issue is scheduled for 17 January 2019. Any RAS issued to you after this date will be sent to the correct address.

    Release authority statements not issuing

    We have identified a small number of RAS that have not been issued to funds.

    We are investigating this matter and until it is resolved, our call centre staff are advising clients not to call their fund directly.

    No debt action will be taken against the affected clients we have identified.

    Further updates will be issued on the progress of these two issues.

      Last modified: 15 Jan 2019QC 57746