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  • Reporting account balances after an SFT

    It's important funds report an account balance promptly after a successor fund transfer (SFT). If you don't, it could be 12 months before your members can see the balance in their successor fund.

    Along with enhancing the member experience reporting account balances in a timely manner allows members to:

    • see their account balance early (reducing inbound calls to your fund)
    • manage their contribution caps when there are product or account changes.

    When reporting an account balance for the purposes of displaying an updated account balance following an SFT, don't reuse the last 30 June date. This amount will be used for our other calculations like total super balance. You can use any other date.

    Remember to meet all your reporting obligations you must:

    • report a 30 June annual balance on or before 31 October following the end of the relevant financial year for any account that was open as of this date
    • ensure member account information has been reported through the member account attribute service (MAAS) and the Australian business number (ABN) and that the unique superannuation identifier (USI) and member account identifier reported in the MATS is identical to those reported through MAAS for the member account.

    For help and support, lodge an enquiry using the Super enquiry service.

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      Last modified: 19 Apr 2022QC 69308