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  • CRT Alert 017/2019

    Use our payment reference number (PRN) when making payments for Excess contributions and Division 293

    To ensure payments are allocated directly to the correct member, we require you to use the payment reference number which is supplied with our release authority when making your payments.

    Some funds are sending payments through without appropriate member identification information which is causing processing delays. Some examples of incorrect submissions are;

    • funds providing a number generated from their own payment system
    • funds making bulk payment for multiple members
    • funds making individual payments with no PRN included (incl. the use of product names in lieu of PRNs).

    The majority of these payments relate to Division 293, however some have been linked to excess concessional and non-concessional contributions.

    Using an incorrect PRN causes significant payment processing issues which result in delays in linking the payment to your individual members. You may also experience;

    • increased calls and complaints from your members if you have not used the correct PRN where they still have an outstanding liability that is accruing interest or have not received a refund they were expecting
    • increased contact from our payment processing areas, who will ask you to provide additional information to ensure the payment is processed on behalf of your members.
      Last modified: 06 Mar 2019QC 58165