Show download pdf controls
  • How to report contributions that you rollover – SMSFs

    The following instructions and examples will help you as a trustee of a self-managed super fund (SMSF) or a trustee's authorised agent to complete:

    • the Rollover benefits statement (NAT 70944) – when you make a rollover to another super fund that's not a Death benefit rollover
    • the Death benefit rollover statement (NAT 74924) – when a rollover of a super benefit is paid to an eligible dependant beneficiary for the deceased under the regulatory rules
    • your Self-managed superannuation fund annual return (NAT 71226) – after the end of the financial year in which you made a rollover – in particular, sections F and G of that return
    • your Transfer balance account report - when you rollover a members super benefit that is in retirement phase.

    How to complete these forms

    You should read the instructions below on completing these forms before you refer to the examples.

    You must report contributions accurately after a rollover.

    Penalties may apply if you make a false and misleading statement in an SMSF annual return, RBS, or DBRS by reporting your member's contributions inaccurately to another fund or to us.

    You must report contributions made to your SMSF during a financial year for each member. This will allow us to calculate and pay super co-contributions for them (if eligible), and assess excess contributions tax.

    You should report contributions directly to us in your Self-managed superannuation fund annual return (SAR). Unless there is a rollover, you should report these after the end of the financial year.

    If you have rolled over all or a part of a member's balance to another super fund, you need to report this by completing an RBS or a DBRS depending upon the rollover benefit type.

    Transfer balance cap reporting and rollovers

    SMSFs have new reporting obligations due to the transfer balance cap and event-based reporting framework.

    You'll need to report the rollover as a member commutation via the Transfer balance account report (TBAR) when the member rolls the amount over. We encourage you to report this as soon as the rollover occurs.

    For example, if an SMSF member rolls their super benefit into an APRA-regulated fund and starts an income stream, the APRA provider must report this to us by 10 business days at the end of each month.

    If you don't report the commutation to us when the rollover occurs, you may have an inflated transfer balance account.

    See also:

    Find out about:

      Last modified: 31 Jan 2019QC 25212