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  • How to report

    Use the super transfer balance account report (TBAR) to advise us when:

    • a transfer balance account event occurs
    • you need to correct information about a transfer balance account event that you have previously reported to us
    • you are responding to a commutation authority notice we have issued to a super fund.

    We use this information to adjust your member’s transfer balance account so we can correctly apply the transfer balance cap provisions. We do not use information reported in your self-managed superannuation annual return (SAR) for transfer balance cap purposes.

    Do not use the TBAR to report:

    • a member's total superannuation balance information from 1 July 2018
    • to cancel a report that has already been cancelled.

    Note: As an SMSF trustee you can only report information about your member's interest in the SMSF, not any interests they have in other super funds.

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    Reporting methods and lodgment

    You can lodge a transfer balance account report (TBAR) to report information to us by:

    Depending on which method you use, you may be able to report multiple events for multiple members using an electronic method or up to four events per member on each paper form.

    See also:

    Correcting a report

    If you have made an error in your reporting you will need to cancel the original event.

    To cancel the original event you will need to lodge a new form exactly how you originally reported it (including the incorrectly reported information). You will also use an additional field to indicate the form is being lodged as a cancellation of a previous form. This enables us to match your cancellation request to the original lodgment.

    If you want to amend information reported previously you will need to send us two reports. The first report must be lodged to cancel the previous form and a new report must be lodged to provide the correct information.

    If you previously cancelled a report and want to undo the effect of the cancellation, do not try to cancel a cancellation request. Send us a new report to provide the original information.

    Note: If you need to re-report you must ensure that you lodge the cancellation first before sending the correction to avoid duplication.

    Reporting a reversionary income stream

    If a member dies and the death benefit income stream payable on their death is a reversionary income stream:

    • you don't need to report the death of a member for TBAR purposes
    • you do need to report the reversionary income stream that starts to be paid to the reversionary beneficiary.

    When reporting the reversionary beneficiary:

    • complete the member details for the reversionary beneficiary who is receiving the income stream, not the deceased member
    • clearly indicate you are reporting a reversionary income stream
    • report the date of death of the member as the effective date
    • report the value of the income stream as the value on the day the member died (You may be able to use a reasonable estimate to do this).

    We will apply the credit to your member’s transfer balance account 12 months after the death of the original member.

    In the time between reporting the event to us and the credit being applied to your member’s account, your member will be able to see the value of the credit and when it will be applied to their transfer balance account in ATO online. This will help them understand what action they may need to take to ensure they don't exceed their transfer balance cap when the credit is applied.

    See also:

    Last modified: 04 May 2020QC 57301