• Lodgment obligations for SMSF trustees in pension phase

    Earlier this year, we contacted self-managed super funds (SMSFs) that have failed their regulatory obligations by not lodging multiple SMSF annual returns while clearly remaining active.

    Feedback from trustees who subsequently lodged returns identified a group of trustees who are in pension phase. Because these trustees are drawing a pension and not lodging personal income tax returns, they were unaware that they still had a regulatory obligation to lodge SMSF annual returns.

    In October, we contacted trustees in this group to remind them to lodge all overdue SMSF annual returns or wind up the fund. We will continue to pay close attention to SMSFs that are not meeting their lodgment obligations.

    See also:

      Last modified: 10 Nov 2017QC 53892