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  • Adjusting unclaimed superannuation

    If you find a mistake on a previous unclaimed superannuation money (USM) statement, you can correct it by requesting an adjustment.

    For example, you can request an adjustment if you:

    • incorrectly reported an amount
    • forgot to include a member
    • incorrectly reported a member.

    On this page:

    How to lodge USM adjustments

    Increase adjustments

    If your adjustment involves an increased USM amount, report this to us by sending a new USM lodgment for the additional amount via SuperStream.

    Decrease, transfer or cancel adjustments

    Use the USM adjustment template if you need to decrease, transfer or cancel a previously reported entitlement. You can then send a new USM lodgment to report the correct entitlement via SuperStream.

    You will be able to lodge your completed USM adjustment template through the Business Portal.

    Next steps:

    When to lodge USM adjustments

    You have 30 days from when you find a mistake on your USM statement to lodge an adjustment.

    You can request a deferral if you can't meet this deadline. Interest and penalties may apply. To help minimise these you should lodge as soon as possible.

    Requesting a deferral for your USM adjustment

    To make a written request to defer your USM adjustment, email the request to making sure that you:

    • clearly state the reasons for the delay
    • tell us the date you will lodge your deferred USM adjustment.

    See also:

    USM adjustment template instructions

    Lodge your completed USM adjustment template through the Business Portal. Please refer to the information below for step-by-step instructions.

    Using the Business Portal to lodge USM templates

    1. Log on to the Business Portal and select Mail and New message.
    2. Select the Superannuation topic.
    3. Select the Lodge USM Adjustment/Non-Lodgment Templates Advice subject line and Next.
    4. Select Add under attachments to attach your USM template, check and then send.

    For more formatting information about attachments refer to send and view mail.

    Why USM can't be automatically refunded

    Lodging and paying your USM to us is a tax obligation under section 17(1) of the Superannuation (Unclaimed Money and Lost Members) Act 1997 (SUMLMA).

    Under section 17(1) of SUMLMA, the obligation to pay USM to the ATO is a tax-related liability. This means that any payment received in respect of a current or anticipated debt must be allocated in accordance with our legislation and cannot be automatically refunded.

    While we are allowing you to use the same taxonomy as business-to-business reporting to report your USM, your obligation remains legislated under the SUMLMA.

    The obligations to report and pay USM are two separate obligations and if a message is rejected the obligation to pay still stands.

    How we link the USM and the USM Outcome Response (USMOR)

    Where a refund request is granted, we will process the refund and provide you with the USM conversation ID and the refund amount so it can be linked to the original USM.

    USM non-lodgment advice template

    We have introduced a USM non-lodgment advice (NLA) template that can be used to lodge a nil statement. You can report NLAs either by completing the NLA template and lodging it through the business portal.

    Next steps:

    Last modified: 24 Mar 2020QC 53866