• Transfer super guarantee credits and SHA special account credits

    Transfer super guarantee credits

    A super guarantee (SG) credit can be automatically transferred to a member super account if the account has been identified as belonging to a particular person.

    The lodgment of a SuperMatch request file with the TFN, account details and personal details of a person (the fund member) is accepted by us as identifying that person as holding an account with the super provider that lodged the request.

    You initiate the transfer of an SG credit to the member's account by submitting a SuperMatch request file. You don't need to know whether the members on the file have SG credits.

    When submitting the SuperMatch request file, the word 'TRANSFER' and a space must precede the super provider's name. For example, the 'Provider identity data record' Current Provider Name would be completed as:

    TRANSFER ABC SUPERANNUATION FUND

    Transfer SHA special account credits

    A super holding accounts (SHA) special account credit can be automatically transferred to a super account if:

    • the member has provided you with a written 'transfer request authority' to do so
    • the account has been identified as belonging to that member.

    The lodgment of a SuperMatch request file with the TFN, account details and personal details of that member will be accepted by us as identifying that person as holding an account with the super provider that lodged the request.

    If you already have a transfer request authority from each member on a SuperMatch request file, you can initiate the transfer of an SHA special account credit to the member's accounts by submitting the request file.

    The word 'SHAR' and a space must precede the super provider's name. For example, the 'Provider identity data record' Current Provider Name would be completed as:

    SHAR ABC SUPERANNUATION FUND

    If you don't already have transfer request authorities, you can:

    • submit a SuperMatch request file without the SHAR prefix
    • from the resulting SuperMatch report file, isolate the members we report as having an SHA special account credit
    • obtain individual transfer request authorities from those members
    • re-submit the SuperMatch request file for only those members, and include the SHAR prefix.

    Payment

    Payment is made once each month. If the payment method is by:

    • direct credit – the money will be transferred to the EFT details held on the fund’s account
    • cheque – it will be made out to the fund. Depending on the correspondence preference, it will be sent to either the administrator’s or the fund’s address.

    We'll also issue a remittance advice and recovery notice (RARN) with details of the payment. Where the fund has an administrator and the correspondence preference is set as the administrator, we will send the RARN there.

    See also:

    Last modified: 08 Sep 2015QC 27143