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Reporting contributions received

Last updated 14 December 2022

As an SMSF, you must report all contributions made for the member each financial year in the Self-managed superannuation fund annual return.

You must report the total contribution and not the contribution less any benefits paid to the member in the same year.

If your fund returns an amount as required by Regulation 7.04(4), the fund is taken to have never accepted the amount as a contribution and therefore doesn't need to report it. You have a 30-day period of grace to remove the contributions from the super system without breaching the preservation or contribution rules. After this period expires, you will not be able to take advantage of the defence provided by subregulation 7.04(5) of the SISR and will be in breach of the rules.

Contributions returned in accordance with the law of restitution don’t count towards the member's contributions cap. The fund may have to amend its reporting to account for returned contributions.

If your fund returns a contribution inconsistent with the law of restitution the fund must continue to report the contribution for the member, even if it was returned.

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QC21807