If you manage an SMSF, it’s important you’re using the correct payment reference number (PRN) to help us match your release authority payment.
PRNs are used to match your payment with the corresponding SuperStream message. If the details aren’t identical, we may be unable to allocate your payment, which can result in delays and additional processing.
You’ll be provided with a PRN by your software, SMSF administrator, SuperStream messaging provider, or be advised to generate your own. If you receive a paper release authority form, the PRN will be included in the ‘pay now’ section.
Your PRN must be:
- no more than 18 characters long
- included when paying the release amount
- identical in the release authority statement (RAS) message or paper form and the payment, including any uppercase, lowercase, special characters, and spaces
- unique and not reused within a 12-month period.
When making a payment through online banking or a banking app, input only the PRN in both the reference and description field. This helps us match the payment to your reported RAS.
If the total amount to be paid for the RAS, exceeds your payment limit, you may need to contact your bank.
If you receive multiple release authorities, make a separate payment for each one, don’t send one bulk payment. The amount you report is being paid in your RAS must match the amount paid and the corresponding PRN.
For more information visit ato.gov.au for responding to release authorities issued to SMSFs.
Alternatively, you can refer to the Data and Payment Standards (PDF, 252KB)This link will download a file reference guide for more information on PRN formats.
Stay up to date by visiting our SMSF newsroom and subscribingExternal Link to our monthly newsletter.