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  • Reporting obligations

    Changes to reporting obligations

    Reporting for APRA-regulated funds is changing and will be brought into the SuperStream data standard at different stages throughout 2018.

    We will introduce these new reporting channels:

    These changes will impact the following statements:

    Member contributions statement

    The member contributions statement (MCS) will be replaced by two new event-based reporting services:

    • Member Account Attribute Service (MAAS) – used for reporting updates to member account attributes.
    • Member Account Transaction Service (MATS) – used for reporting member contributions data.

    These services will introduce a number of significant changes to the way you have traditionally reported member contributions data through the MCS:

    • You will no longer report an annual MCS, instead you will need to report information throughout the year at the time a transaction or event occurs (event-based reporting).
    • Member account details (or attributes), such as account status or account phase, will no longer need to be reported annually. Instead, you will only need to report when there are changes to these attributes through the attribute service, MAAS.
    • Contributions data will need to be reported at a transactional level, rather than in aggregated amounts. You will need to report these transactions through the transaction service, MATS.

    Your last MCS will be for the 2017–18 financial year and is due on 31 October 2018.

    If you need to amend a previously lodged MCS you will need to use the existing process which will remain open for approximately three years.  After this time, we expect the volume of amendments to have significantly reduced and an alternate solution to be available for further MCS amendments.

    Next steps:

    See also:

    Lost member statement

    The lost member statement (LMS) will be replaced by the Member Account Attribute Service (MAAS).

    When a member becomes lost, you will be able to update their lost status through MAAS.

    MAAS will also include an optional Provision of Details (POD) service to assist in reuniting members with their account if they are at risk of becoming lost. Use of the data returned to you by POD is subject to restrictions. Further guidance will be available in the protocol documents.

    Your last LMS is for the period 1 July 2017 to 31 December 2017, which is due by 30 April 2018.

    Next steps:

    See also:

    Unclaimed super money statement

    The unclaimed super money (USM) statement will no longer be used to report USM. You will report USM through the SuperStream data standard using the rollover message.

    We will issue Section 20c notices to notify you of former temporary residents using the rollover message.

    Your USM reporting obligations will remain twice a year, however the rollover message will allow you to report USM or respond to Section 20C notices sooner if you choose.

    Next steps:

    See also:

    Transfer balance account report (TBAR)

    The Transfer balance account report (TBAR) is the report funds use to advise us of events that impact their members’ transfer balance account and total super balance.

    For APRA-regulated funds, TBAR reporting is a temporary solution that will be superseded by MAAS and MATS.

    The MAAS and MATS designs incorporate the required elements of the TBAR with the exception of Commissioner's commutation events which will remain through TBAR until version three of the SuperStream rollover message is implemented.

    See also:

    Last modified: 22 Mar 2018QC 54831