Before completing this form, check that the fund you are transferring your benefits TO can accept this transfer.
Transferring your super out of a fund may close that account and you may want to check this with the fund you are transferring your super from.
You can not use this form to:
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- transfer part of your super balance; you must transfer the whole balance
- transfer your super to an SMSF
- transfer your super if you don’t know where your super is
- transfer your super from multiple funds; you must use a separate form for each super fund transfer
- change the fund your employer pays contributions to on your behalf. To do this, you will need to complete the form (NAT 13080)
- open a super account
- transfer your super where certain conditions or circumstances don’t allow it, for example, if there is a super agreement under the Family Law Act 1975 in place.
What happens to my future employer contributions?
Using this form to transfer your benefits will not change the fund to which your employer pays your contributions and may close the account you are transferring your benefits FROM.
If you wish to change the fund into which your employer contributions are being paid, you will need to speak to your employer about super choice. For the appropriate forms and information about whether you are eligible to choose the fund to which your employer contributions are made, visit ato.gov.au or call us on 13 10 20.
Things you need to consider when transferring your superannuation
When you transfer your super, your entitlements under that fund may cease – you need to consider all relevant information before you make a decision to transfer your super. If you ask for information, your super provider must give it to you.
Some of the points you may consider are:
- Fees – your FROM fund must give you information about any exit or withdrawal fees. If you are not aware of the fees that may apply, you should contact your fund for further information before completing this form. The fees could include administration fees, and exit or withdrawal fees. Your TO fund may also charge entry or deposit fees on transfer. Differences in fees that funds charge can have a significant effect on the super you will have to retire on – for example, a 1% increase in fees may significantly reduce your final benefit.
- Death and disability benefits – your FROM fund may insure you against death, illness or an accident which leaves you unable to return to work. If you choose to leave your current fund, you may lose any insurance entitlements you have – other funds may not offer insurance, or may require you to pass a medical examination before they cover you.
- When considering a new fund, you should consider checking the costs and amount of any cover offered.
What happens if you do not quote your tax file number (TFN)?
You are not required to provide your TFN to your super fund. However, if you do not provide your TFN, your fund may be taxed at the highest marginal tax rate, plus the Medicare levy, on contributions made to your account in the year, compared to the concessional tax rate of 15%. Your fund may deduct this additional tax from your account.
If your super fund does not have your TFN, you will not be able to make personal contributions to your super account. Choosing to quote your TFN will also make it easier to keep track of your super in the future.
Under the Superannuation Industry (Supervision) Act 1993, your super fund is authorised to collect your TFN, which will only be used for lawful purposes. These purposes may change in the future as a result of legislative change. The TFN may be disclosed to another super provider when your benefits are being transferred, unless you request in writing that your TFN is not to be disclosed to any other trustee.
Transfers to self-managed super funds
You must use the form Rollover initiation request to transfer whole balance of superannuation benefits to your self-managed super fund (NAT 74662) to transfer your benefits to your own SMSF.
Have you changed your name or are you signing on behalf of another person?
If you have changed your name or are signing on behalf of the applicant, you will need to provide a certified linking document – a linking document is a document that proves a relationship exists between two (or more) names.
The following table contains information about suitable linking documents:
Suitable linking documents
Change of name
Marriage certificate, deed poll or change of name certificate from the Births, Deaths and Marriages Registration Office
Signed on behalf of the applicant
Guardianship papers or Power of Attorney
Certification of personal documents
All copied pages of original proof of identification documents (including any linking documents) need to be certified as true copies by any individual approved to do so (see below).
The person who is authorised to certify documents must sight the original and the copy and make sure both documents are identical, then make sure all pages have been certified as true copies by writing or stamping ‘certified true copy’ followed by their signature, printed name, qualification – for example, Justice of the Peace or Australia Post employee – and date.
The following people can certify copies of the originals as true and correct copies:
- a person enrolled on the roll of a State or Territory Supreme Court or the High Court of Australia as a legal practitioner
- a judge of a court
- a magistrate
- a Chief Executive Officer of a Commonwealth court
- a registrar or deputy registrar of a court
- a justice of the peace
- a notary public officer
- a police officer
- an agent of the Australian Postal Corporation who is in change of an office supplying postal services to the public
- a permanent employee of the Australian Postal Corporation with two or more years of continuous service
- an Australian consular officer or an Australian diplomatic officer
- an officer with two or more years of continuous service with one or more financial institutions
- a finance company officer with two or more years of continuous service (with one or more finance companies)
- an officer with, or authorised representative of, a holder of an Australian Financial Services Licence (AFSL), having two or more years continuous service with one or more licensees
- a permanent employee of the Commonwealth with two or more years continuous service
- a permanent employee of the State or Territory, or State and Territory authority with two or more years continuous service
- a permanent employee of a local government authority with two or more years of continuous service
- a member of the Institute of Chartered Accountants in Australia, CPA Australia, or the National Institute of Accountants, with two or more years continuous membership.
Where do I send the form?
You can send your completed and signed form to either the transferring or the receiving fund.
Form for superannuation fund members to transfer their benefits between super funds. (NAT 71223)Last modified: 16 Sep 2014QC 19260
Find out more
For more information about super, visit the:
- Australian Securities & Investments Commission (ASIC) website at moneysmart.gov.au
- ATO website at ato.gov.au/super
For more information about this form, phone us on 13 10 20.
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