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  • CRT Alert 045/2019

    Inactive low-balance accounts declaration template now available on the Business Portal

    The Business Portal now has templates available for super funds to notify the ATO of authorisation forms received from members to declare that they are not inactive and hence to be excluded from reporting.

    Channel A – Member notifies the ATO and we advise the fund

    We will be sending declaration forms received from members to you via the Business Portal. Please ensure your staff have the right access to view and download the template.

    If you want to test received messages, contact us by sending an email to the PYS mailbox.

    At this stage we have not received any declaration forms from members. If we do receive any forms we will be sending them to you on a daily basis.

    Channel B – Member notifies the Fund and Fund advises ATO

    Super funds need to send declarations received from members to us through the Business Portal, using the Inactive low balance account template. This template can be accessed from the Online Forms section, under the Super fund member reporting tab. These members are then excluded from Inactive low-balance reporting on that statement date.

    The date which the declaration is made will be the same date we receive the template from the fund. If a declaration form is not received by the scheduled statement date, super funds are required to report and pay Inactive low-balance accounts to us.

    Next Steps:

      Last modified: 23 Sep 2019QC 60161