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  • Changes to SMSF rollovers and release authorities

    From 1 October 2021, self-managed super funds (SMSFs) will need to use SuperStream to roll over super to or from their funds. SMSFs will also be able to receive and action certain release authorities electronically via SuperStream. These changes are due to government measures announced in 2019.

    Benefits of SuperStream

    SuperStream is a data and payment standard used for digital transactions within the super industry. Many SMSFs already use SuperStream to receive contributions, and many large super funds also use SuperStream as their main way to transact with employers, other large funds and the ATO.

    SuperStream rollovers can be processed faster, more efficiently and with fewer errors. For release authorities, this means eliminating postage delays for faster super money release, such as quicker access to first home super saver (FHSS) scheme money for first home purchases.

    What you need to do

    To be able to use SuperStream make sure you have:

    • an electronic service address (ESA) providing rollover SuperStream services
    • an Australian business number
    • up-to-date details recorded with us, including your SMSF's unique bank account for superannuation payments.

    If you already have an ESA provider, talk to them about when they will transition to SuperStream. If you need an ESA provider, refer to Register of SMSF messaging providers.

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      Last modified: 24 Mar 2021QC 64223