When to lodge, records to keep
You need to report lost member information:
- for the period 1 January to 30 June – on or before 31 October in the same calendar year
- for the period 1 July to 31 December – on or before 30 April in the following calendar year
- if the ATO has granted an extension – on or before the extended due date.
You must keep records of your reporting of lost members for five years after the later of:
- the date the reports were prepared
- the date the transaction or acts to which those records relate were completed.
Penalties may apply if you don't lodge your LMS on time, lodge an LMS that is false or misleading, or fail to keep records correctly.
Lodge your lost members statement twice yearly, on or before 31 October and 30 April. Keep records for five years.