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  • Quarterly TBAR due 28 January 2021

    What and when do I need to report?

    If you report transfer balance account (TBA) events on a quarterly basis, your next transfer balance account report (TBAR) is due 28 January 2021.

    You are required to lodge a TBAR if:

    • a TBA event occurred in your member’s SMSF between 1 October and 31 December 2020, and
    • any member of your SMSF has a total super balance greater than $1 million.

    If no TBA event occurred, you do not need to report.

    Different reporting deadlines will apply if any of your members have exceeded their transfer balance cap (TBC) and we've sent them an excess transfer balance determination or a commutation authority.

    Lodging online or electronically is the quickest and easiest way to complete your TBAR.

    What's a TBA event and why do I need to report it?

    The TBA is a record of all the amounts you transferred that count towards your personal TBC. These transfers are called events. The most common events you need to report are when a member starts a retirement income stream or commutes that income stream into a lump sum, including when they commute that pension before rolling it over to a new fund. To find out what events you need to report, refer to Events you need to report on ato.gov.au/smsf.

    There is a lifetime limit on the total amount of super that can be transferred into the retirement phase income streams, including most pensions and annuities. This is called the TBC.

    The TBAR is separate from the SMSF annual return (SAR). This is one of your trustee reporting obligations and it enables us to record and track an individual's transfer balance. This is an important aspect of your fund administration because there can be negative tax consequences if a member exceeds their TBC.

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      Last modified: 07 Jan 2021QC 64500