CRT Alert 016/2019
Changes to fund obligations for lost member reporting
Legislation to remove the requirement for you to report lost members via a separate lost member statement (LMS) and its associated biannual reporting dates has now received Royal Assent.
In CRT Alert 079/2018 we advised that once the legislation passed the Commissioner would determine the frequency of lost reporting by legislative instrument. The legislative instrument allows you to report the lost status more frequent if you wish to do so, however you are required to report the lost status of your members at a minimum biannually via the Member Account Attribute Service (MAAS) by:
¦ Assessing the lost status of your members on or after 30 June but before 31 October and if there has been a change in the members lost status account attribute, report that information on or before 31 October.
¦ Assessing the lost status of your members on or after 31 December but before 30 April and if there has been a change in the members lost status account attribute, report that information on or before 30 April.
We are in the process of updating our guidance within the fund reporting protocol to reflect these changes.
Lost Member Reporting and non-lodgement advice
There is no requirement to provide the equivalent of a non-lodgement advice in the MAAS for lost member reporting.
Unable to meet you lost member reporting obligations
If you are unable to meet your lost member reporting obligation through the MAAS by the required timeframe, contact SuperCRT@ato.gov.au .