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  • Reporting to receiving funds and members

    When you pay a rollover super benefit or death benefit to another super fund or retirement savings account (RSA) you must:

    • provide a statement to the receiving fund or RSA within three days, using the SuperStream data and payments standard
    • if the rollover SuperStream standard does not apply to the transaction, send a rollover benefits statement (RBS) or a death benefit rollover statement (DBRS) to the receiving fund within seven days of paying the rollover
    • provide a statement to the member within 30 days, using the RBS, DBRS or a similar statement that has the same information.

    You must advise the receiving fund of any changes or omissions in the information you provided to them within 30 days of becoming aware of a material error. Do this by providing a new, corrected statement.

    We may apply administrative penalties if we audit your fund and find that an accurate statement has not been provided to the receiving fund on time.

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    Reporting to the receiving fund

    Generally APRA-regulated super funds and RSA providers must use the SuperStream standard to process:

    • rollover requests between funds (including SMSFs, from 1 October 2021)
    • rollover transactions between funds (data and payments) (including SMSFs, from 1 October 2021)
    • rollover-related mistakes.

    However, if the SuperStream standard doesn't apply to the transaction, you need to use an RBS or DBRS (or similar statement) instead. This includes, for example, if you are the trustee of a non-complying fund paying member benefits to another fund or RSA.

    Note: If you are rolling over a death benefit and the beneficiary is a minor, you will need to do both of the following:

    • send the statement using the SuperStream data and payment standard
    • separately provide the details in the DBRS form.

    Make sure you use the current version of the RBS form or DBRS form. Do not use the previous version of the RBS (NAT 70944-05.2007) unless you're correcting mistakes in rollovers made between 1 July 2007 and 30 June 2013.

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    Payments that require a statement

    You need to provide a statement to the receiving fund when you pay a rollover or transfer.

    You don’t need to provide a statement to the receiving fund when (for example) you:

    • pay death benefits to a dependant of your deceased member if the dependant asks that this be paid directly to their own super fund; this payment is considered to be a benefit payment to the dependant that then becomes a personal contribution to their own fund
    • make a payment to your member under a condition of release because of a terminal medical condition; this is a benefit payment to the member that then becomes a new contribution to the new fund
    • move an amount from one super plan to a different super plan held by the same trustee (or RSA provider); you don’t need to provide a statement as there is only one trustee involved.

    From 1 July 2015, you don’t need to provide an RBS to your member when a complying super fund is transferring cash or other assets to another complying super fund in a successor fund transfer.

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    Creating a branded RBS

    You may create a fund-branded RBS provided it meets the requirements of an approved form. It must include all relevant fields and information.

    For information about creating a branded RBS, email us at SuperCRT@ato.gov.au.

    Last modified: 19 Apr 2021QC 22779