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  • How to avoid common reporting errors

    We often see errors when funds are:

    • responding to Section 20C notices
    • undertaking successor fund transfers
    • closing member accounts and reporting member transactions.

    The information below will help funds avoid these common reporting errors.

    Section 20C notices

    Funds receiving a Section 20C notice (former temporary residents) need to either:

    • pay the balance of the account listed on the notice to us as part of the next unclaimed super monies report by 30 April or 31 October, then close the account via Member Account Attribute Service (MAAS)
    • reject the notice only where the
      • member was not found (reason code SUPER.GEN.GEN.21)
      • individual is no longer a member (reason code SUPER.GEN.GEN.22)
      • member has a pending payment (reason code SUPER.GEN.RLVR.7).
       

    If a fund can’t meet these obligations they should contact us.

    Successor fund transfer (SFT)

    When undergoing a SFT the:

    • transferring fund needs to close the account via MAAS
    • receiving fund needs to open a new account via MAAS.

    This reporting is required when the account is in accumulation or retirement phase.

    If the account is in retirement phase, an associated retirement event must be reported by both the transferring fund and receiving fund.

    Closing accounts and reporting member transactions

    To ensure a member’s account is closed in our systems, the fund's Australian business number (ABN), unique superannuation identifier (USI) and member account identifiers must exactly match what was reported when the account was opened. Do not include additional spaces or a dash.

    Similarly, when reporting member transactional information via the Member Account Transaction Service (MATS), the fund ABN, USI and member account identifiers must exactly match what was reported when the account was opened in the MAAS.

    Many processes including the display of member information rely on correct MAAS and MATS reporting, otherwise there can be significant adverse consequences for members.

    What funds need to do

    Funds should ensure they have appropriate processes in place to meet their reporting obligations and take care to correctly report these scenarios. Funds are obligated to fix reporting errors. If funds need assistance with re-reporting, they should contact us to ensure accuracy.

    For any questions, email SuperCRT@ato.gov.au and type 'Member issues (MBR)' in the Subject line.

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      Last modified: 28 Jan 2021QC 64614