SuperGuide

Superannuation and retirement planning information

SMSF administration

SMSF trustees have a number of administrative obligations to ensure their fund’s compliance with superannuation legislation, including:

  • signing and submitting their trustee declaration to the ATO when the fund is set up to indicate they are aware of all their responsibilities,
  • ensuring the fund is set up with a trust deed,
  • appointing an independent auditor who is licensed by ASIC,
  • valuing fund assets at market value,
  • paying the ATO supervisory levy,
  • event-based reporting,
  • reporting any fund member or trustee changes, and
  • maintaining general and financial fund records.

The ATO can impose a range of penalties on SMSF trustees who fail to meet their administrative obligations, depending on the severity of the non-compliance. It may be worthwhile for some trustees to obtain professional advice to help ensure their administrative compliance.

Learn about the key aspects about SMSF administration in the following SuperGuide articles:

Set out below are all SuperGuide articles that relate to SMSF administration.

Choosing an SMSF service provider

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Running your own self-managed super fund has many benefits. But unless you have a high degree of SMSF and investment knowledge, as well as plenty of time available to manage your fund, you’re likely to need some professional help. Here we look at the factors you’ll need to consider before you choose a provider.

Guide to SMSF trust deeds

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An SMSF trust deed is a legal document that outlines how the fund will be set up and how it will operate. An Australian SMSF must be established with a trust deed that is compliant with Australian superannuation legislation.