What to include
In your lost members statement (LMS) you must report on members who:
- are lost (or were transferred into the fund as a lost member)
- are inactive (or were transferred into the fund as an inactive member)
- have been found
- have been transferred to another super provider as lost members since the last report, or the lost member's account has become unclaimed super money and has been paid to us or a state or territory authority
- were reported in error and should be removed from the LMR or have their status amended.
Exclusions from being a lost member
A member is excluded from being a lost member if they (or you) have confirmed their current address within the last two years.
A member can be permanently excluded from being a lost member if they:
- are an inactive member of the fund but indicate by a positive act – for example, deferring a benefit – that they want to remain a member
- contact you and indicate that they want to remain a member
- are a member of an SMSF.
You need to complete the non-lodgment advice section of the LMS and lodge the statement if:
- you have no new lost members to report
- any members taken to be lost but not previously reported as lost have been transferred to another super provider
- newly lost members have a nil account balance
- any members you previously reported as lost
- have not been found
- were not transferred out
- were correctly reported as lost and are still lost.
The completed non-lodgment advice tells us that you do not have to report lost members for a specific reporting period and the reasons why.
Report details of newly lost members, using a member status of 'L', if:
- they transferred from another super provider as a lost member and you haven't found or been advised of a new address
- the fund hasn't received a contribution or rollover from the member within the past 12 months and the member is uncontactable – that is:
- the fund has never had an address for them, or
- two written communications have been sent to the member's last known address and returned unclaimed (if you choose, you can report a member as lost if only one written communication is returned unclaimed).
Report only newly lost members – don't report members you have already reported as lost.
Report details of inactive members, using a member status of 'I', if:
- they joined more than two years ago as a standard employer-sponsored member, and
- the fund has not received any contributions or rollover amounts for that member within the past five years.
If a member is inactive and you cannot contact them, you should report the member as lost using a member status of 'L'.
Report found members using a member status of 'F'. Found members are members you previously reported as lost but:
- contact with the fund has been re-established, and the member has left their benefit in the fund, or elected to cash it in as it was under $200 or a condition of release was met
- contact with the fund has been re-established, and the member has rolled their benefit over to another fund, or
- there was contribution activity on an account previously considered inactive.
Report lost members as transferred, using a member status of 'T', if they were transferred to another fund or eligible rollover fund as a lost member and their benefits were transferred out of the fund during a reporting period.
You also need to advise the new fund of the members' status. The receiving fund is required to report the transferred members as lost or inactive in their report. It is important that the transferring fund tells the receiving fund that the member is being transferred because they are 'lost'.
A member is also reported as transferred if their lost members account has become unclaimed super money and been paid to us or a state or territory authority.
Transferred members who have not been previously reported as lost members should not be reported as either transferred or lost by the transferring fund as this is done by the receiving fund.
Amending a member's status and correcting errors
You must remove an existing lost member from the LMR if you reported them:
- in error
- as lost 'L' or inactive 'I', and they have since been transferred as a lost member to another super fund or reported and paid as unclaimed super
- as lost or inactive and they have since been found.
Where you have reported them in error and need to remove them from the LMR, you will need to lodge an updated LMS identifying the original member with a status of 'E'.
Where you have reported them in error and need to supply the correct details (for example, you previously provided an incorrect member account number), you will need to lodge an updated LMS identifying the original member with a status of 'E'. In the same report you can also lodge the correct details for that member with a status of 'L' or 'I'.
Where appropriate you must update a member's status to remove them from the LMR. For example, where you previously reported them as lost or inactive and they have since transferred or been found, you will need to lodge an updated LMS identifying them with the relevant status of 'T' or 'F'.
The following details must be an exact match to the details on the LMR for us to accept an updated record:
- member account number
- member client identifier
- provider tax file number (TFN).
In addition, all mandatory fields must be completed and the member's account must be greater than zero. If the member status field is 'T', 'F' or 'E', use the member's current balance unless the amount is zero. If the member's current balance is zero then use the balance last reported for the member.
If any of the above information is not supplied (where applicable), we may fail to match the data with the original record, which can cause the new LMS to be rejected.
In your lost members statement you report on your inactive, lost, found and transferred members. If you don't have to report on lost members for a particular reporting period, you'll need to complete and lodge a non-lodgment advice, which has been incorporated into the lost members statement.