Superannuation – CRT Alert 004/2014

Dear Members

Unclaimed Super Monies - Monthly payment January 2014

At our last meeting (4 December 2013), we advised the first release of USM rollovers from ATO integrated Core Processing (ICP) system to funds was scheduled for 30 January 2014.

On 2 January 2014, an unplanned aggregation occurred which resulted in a release to a small number of funds.  Further to this, a discrepancy has been identified in the paper Rollover Benefit Statement (RBS) provided which resulted in the member entitlement information not matching the payment disbursed.

We have contacted all funds impacted by this issue and provided some instruction about what action to take and are currently in the process of remediating accounts where required.

Until this issue is resolved we do not intend to schedule any further release to funds. While this will cause delays to member claims and ATO initiated batch releases it is imperative the correct information is provided to allow for reconciliation of amounts to member accounts.

Further updates will be provided once we have a resolution to the issue.

While this issue affects the release of monies to funds we can continue to accept lodgment and payment of USM.

We sincerely apologise for any inconvenience and thank you for your patience in this matter.

If you have any questions in relation to the issues raised above, please email SuperCRT@ato.gov.au

Have we sent this message to the correct email address? We have forwarded this message for the information of fund trustees / super fund administrators using email addresses held on ATO records for superannuation reporting purposes. Please ensure that this message is escalated to the appropriate area within your organisation for consideration and appropriate action. If this address is no longer appropriate, please notify SuperCRT@ato.gov.au at your earliest convenience.

Client Relationship Team

Superannuation Product Management | Client Account Services
Australian Taxation Office

ATO | Working for all Australian

Email: SuperCRT@ato.gov.au