• Superannuation Communique April 2016

    Monthly superannuation remittance and recovery processing schedule

    Deferrals

    Member accounts - payments and recoveries

    Updated specifications - FINAL RARN v4.2.0 and super member TFN notification v1.2.3

    2016-2017 Schedule of planned ATO activities and superannuation reporting due dates

    Online troubleshooting for businesses and tax practitioners

    Portal outages and system maintenance

    Monthly superannuation remittance and recovery processing schedule

    The ATO superannuation processing schedule for April 2016 and May 2016 are outlined below.

    April 2016

    Product

    Correspondence issuing week beginning

    Low Income Superannuation Contribution (LISC) recovery

    Monday, 4 April 2016

    Co-contributions remittance advice

    Monday, 4 April 2016

    Unclaimed Super Monies (USM) remittance

    Monday, 4 April 2016

    First Home Saver Account (FHSA) remittance advice

    Monday, 11 April 2016

    Super Guarantee remittance advice (ICP)

    Monday, 11 April 2016

    Super Guarantee remittance advice (Legacy)

    Monday, 11 April 2016

    Unclaimed Super Monies (USM) recovery

    Monday, 11 April 2016

    Super Guarantee recovery

    Monday, 11 April 2016

    Low Income Superannuation Contribution (LISC) remittance advice

    Monday, 18 April 2016

    Superannuation Holding Account special account (SHAsa) remittance advice

    Monday, 18 April 2016

    Unclaimed Super Monies (USM) remittance

    Monday, 18 April 2016

    Co-contributions recovery

    Monday, 25 April 2016

    May 2016

    Product

    Correspondence issuing week beginning

    Low Income Superannuation Contribution (LISC) recovery

    Monday, 2 May 2016

    Unclaimed Super Monies (USM) remittance

    Monday, 2 May 2016

    Co-contributions remittance advice

    Monday, 9 May 2016

    First Home Saver Account (FHSA) remittance advice

    Monday, 9 May 2016

    Super Guarantee remittance advice (Legacy)

    Monday, 9 May 2016

    Unclaimed Super Monies (USM) remittance

    Monday, 16 May 2016

    Super Guarantee recovery notice (ICP)

    Monday, 16 May 2016

    Super Guarantee remittance advice (ICP)

    Monday, 16 May 2016

    Unclaimed Super Monies (USM) recovery

    Monday, 16 May 2016

    Superannuation Holding Account special account (SHAsa) remittance advice

    Monday, 23 May 2016

    Low Income Superannuation Contribution (LISC) remittance advice

    Monday, 23 May 2016

    Co-contributions recovery

    Monday, 30 May 2016

    Unclaimed Super Monies (USM) remittance

    Monday, 30 May 2016

    Deferrals

    In the lead-up to the due date for your lost and unclaimed superannuation reporting and payment obligations for the period ending 31 December 2015, we would like to remind you of the correct process for requesting a deferral.

    Deferrals can be requested for the following reporting and payment obligations:

    • Member Contribution Statement
    • Lost Members Statement
    • Unclaimed Superannuation Money reporting and payment
    • Suspension of reporting obligations for frozen and illiquid assets

    Requesting deferrals for your reporting and payment obligations:

    • All deferral requests should be directed to SuperCRT@ato.gov.au
    • Requests for deferrals must be in writing and clearly state the reasons for the delay and include a proposal for an alternate date for lodging the information.
    • Deferral requests will be considered on a case-by-case basis. It is therefore important that deferral requests are made before the lodgement due date to avoid penalties in the event that a deferral is not granted.

    Requesting a suspension of USM reporting and payment obligations for frozen and illiquid accounts

    REMEMBER - It is important to request a deferral for frozen or illiquid assets before lodging or paying your USM Statement. These requests will be considered on a case-by-case basis, and if your request is not granted and you have already removed the identified accounts from your lodgement, omission of these accounts may result in the imposition of penalties.

    Deferrals for reporting and payment of frozen or illiquid accounts are distinctive because:

    • These accounts generally amount to a small percentage of the accounts identified by the fund as meeting the requirements for unclaimed super monies, so the fund only requires a deferral for part of their lodgement obligations.
    • We understand that for frozen or illiquid accounts, funds often cannot provide a clear expectation of when the account/s will be able to be transferred.

    To streamline the deferral process and minimise unnecessary administrative burden on funds, we have determined an approach which will be applied across future deferral requests relating to frozen or illiquid accounts.

    1. These requests will be considered separately to normal lodgement deferral requests. This type of deferral will be called a deferral - suspension of reporting obligations for frozen and illiquid assets.
    2. Requests should be made in writing, in the same manner as normal requests for deferrals. A list of accounts should be provided as part of the fund’s request, and if granted, the suspension of reporting obligations will apply to the listed member accounts only.
    3. Funds will not be required to report or pay frozen or illiquid accounts for which the ATO has granted a suspension of reporting obligations – that is, in contrast to other deferrals which may be granted for the payment obligations only. For frozen or illiquid accounts, the fund will simply not include the identified accounts in the information or payment sent to the ATO on the reporting and payment due date.
    4. A suspension of reporting obligations for a frozen or illiquid account will last until the status of the frozen or illiquid account changes (becomes unfrozen or liquid).
    5. Funds will be expected to check the status of applicable frozen or illiquid accounts at least once every reporting period, as part of their lodgement and payment processes.
    6. Once the fund identifies that the account status has changed, the fund will be required to assess the account using the current regulatory provisions for lost and unclaimed monies, and if required, report and pay the amount as part of their next USM lodgement.
    7. If granted, the ATO’s written response to this type of deferral request should be retained by the fund as evidence.

    This new way of administering deferrals for frozen and illiquid accounts will mean that funds are not required.

    Member accounts – payments and recoveries

    From January 2017 it will be mandatory for trustees to report all New Member Accounts (NMA) and Closed Member Accounts (CMA). This change will allow the ATO to derive a correct destination from open and active accounts for payments and recoveries, removing the need for funds to report destination details for rolled out accounts. Until that time, the ATO will not be re-directing Super Guarantee (SG) recovery notices to a subsequent fund to which SG monies have been rolled over.

    In respect of re-reporting member contribution statements (MCS) in the event an SG entitlement has been reduced, we advise that only the fund that received the payment and lodged the original MCS can re-report the corrected details.

    Updated specifications – FINAL RARN v4.2.0 and super member TFN notification v1.2.3

    Changes have been made to the specifications below to align with the Attorney General’s Department guidelines on the collection and use of sex and/or gender information in individual personal records.

    The FINAL specification for the super member TFN notification v1.2.3 and RARN specification v4.2.0 are published on SIPO. The start date for both specifications is 1 July 2016.

    In the RARN specification v4.2.0 the data field Sex (5.86) has been renamed to ‘gender’ and a new valid value added to include option ‘X’ for indeterminate.

    In the FINAL Super member TFN notification specification v1.2.3 data field Sex (7.41) the valid value ‘U’ was updated to include indeterminate. The current report specification version number field 7.6 and associated data definition is FTNKV001.0. There is no change for the version number field required in specification version 1.2.3. Minor changes only were implemented due to future reporting changes in the

    Member information eXchange (MiX).

    For more information see:

    Superannuation member tax file number (TFN) notification specification v1.2.3External Link

    Remittance advice and recovery notice (RARN) specification v4.2.0External Link

    2016-2017 Draft schedule of planned ATO activities and superannuation reporting due dates

    Please refer to the attached draft schedule and provide feedback by the 18 March 2016 to the Client Relationship Team (CRT) SuperCRT@ato.gov.au

    Online troubleshooting for businesses and tax practitioners

    The information contained within the following link provides useful ATO online troubleshooting information for superannuation industry stakeholders including AUSkey, DASP and ECI.

    Troubleshooting-for-businesses-and-tax-practitioners

    Portal outages and system maintenance

    For planned and unplanned outages or current system issues please refer to the most up to date information which is located at:

    General-Online-services-System-Maintenance

    Issues impacting performance of the portal, or menus within the portal, may also be published to the “key issues” section on your Portal home page.

    This email contains hyperlinks. To protect your security we recommended you copy and paste the hyperlink into the address bar on your browser. For more information about ensuring your online security visit www.ato.gov.au/onlinesecurity

    Regards

    Client Relationship Team (CRT)

    Client Account Services

    Australian Taxation Office

      Last modified: 24 Nov 2016QC 50571