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  • Common fund enquiries in August

    We have responded to your feedback from the APRA Funds Communications Reference Group to share some common enquiries received through our mailboxes each month.

    During August, we received a number of enquiries relating to Member Account Attribute Service (MAAS) and Member Account Transaction Service (MATS) on-boarding.

    Below are a couple of the enquiries we received.

    Accounts to report as part of Foundation Data on-boarding process for MAAS

    You asked us, 'what accounts do we need to report as part of our Foundation Data on-boarding process for MAAS?'

    You should include accounts that are open as at your on-boarding date. Also include accounts opened on or after 1 July 2018 but closed before your on-boarding date, unless the account has been reported as closed via SuperTICK.

    Where the account has been successfully closed using SuperTICK, you may:

    • opt to report them in your Foundation Data and ignore the returned warnings, or
    • exclude them from your Foundation Data reporting.

    When a MATS is received without a corresponding MAAS

    You asked us, 'what happens when a MATS is received and there is no corresponding MAAS for the member account?'

    Our systems will wait 10 calendar days for the MAAS to be received/processed. Otherwise if there is still no MAAS, the MATS will be processed as ‘unmatched’ under the superfund. A periodic process will identify these ‘unmatched’ MATS for further processing. In the scenario a MAAS is received (after the 10 days), our systems will automatically move the previously unmatched MATS to the same client as the MAAS.

    Next step:

    See also:

      Last modified: 23 Aug 2018QC 56592