ato logo
Search Suggestion:

Release authorities – penalties

Funds that don't meet their excess contributions tax release authority obligations may get a penalty.

Last updated 29 September 2021

Super funds that do not meet their excess contributions and Division 293 release authority obligations may incur significant penalties.

You may incur a non-compliance penalty up to a maximum of 20 penalty units if:

  • you do not pay the required amount to us within 10 days of receiving a valid release authority
  • you do not return the Release Authority Statement to us within 10 days
  • you release an amount that is not the lowest amount of  
    • the amount stated in the release authority
    • the maximum available release amounts for the super interest held by the super fund.
     

QC24768