Set-up process

Our documentation is comprehensive and includes all statutory documentation required under superannuation laws. The SMSF trust deed is drawn up with legal oversight. We also attend to the registration of the SMSF with the Australian Taxation Office.

Time frame for setting up SMSF

The setting up of the SMSF can be broken up into 2 parts.

• Documentation - once we have your instructions to set-up a SMSF, we normally have the documentation to you promptly to sign.
• Registration - from the time of lodgement of the application to register the SMSF to the time the ATO register the SMSF can be up to 28 days. However, it does not normally take the full 28 days.

Set-up process in details

Step 1: Complete set-up form
Complete the SMSF set-up form - Download form .
The fee to set-up a new SMSF is detailed on our fees schedule.

Step 2: Superannuation Accounting Services set-up your your SMSF
Once we receive the form, we will have documents drawn up, and sent to you. You sign and return these documentation that formalise the set-up. This includes:

• SMSF trust deed.
• Relevant documents, including trustee appointment, membership application, trustee declarations, establishment minutes/ resolutions.
• SMSF registration with the ATO and election to be a regulated superannuation fund.

Step 3: Register the SMSF
Superannuation Accounting Services completes registration with ATO by lodging the necessary forms electronically to ensure fast turn-around.

Step 4: Confirmation of registration
Once the registration is confirmed by the ABR/ATO, Superannuation Accounting Services will forward the documents confirming your SMSF’s registration to you.

The confirmation will consist of:

• ATO acknowledgement letter that the SMSF has elected to be a regulated superannuation fund
• Notice of Australian Business Number (ABN)
• Notice of Tax File Number (TFN).

You will require these documents to arrange rollover into your SMSF from another super fund.

Step 5: Bank/cash account
Open bank/cash account for your SMSF. The bank/cash account must be a SMSF bank account. The owner of the account must be stated as being the trustees as trustee for the SMSF. For example, John Smith and Jane Smith as trustee for The Smith Super Fund. For corporate trustee, J Smith Pty Ltd as trustee for The Smith Super Fund.

Step 6: Rollover and/or contribute
Once you receive the confirmation of ABN registration, you may proceed to rollover your existing superannuation benefits to your SMSF. The SMSF can also receive contributions.

You should consider the consequence of rolling over your benefits from an existing superannuation fund, including the lost of life insurance cover and obtaining life insurance through the SMSF.

Step 7: Make investments
Make investments in accordance with the SMSF's investment strategy.