From 1 October 2019, SMSFs with outstanding annual return lodgments are at risk of not receiving roll over benefits or employer super guarantee (SG) contribution payments for its members.
The ATO has said that if an SMSF is more than two weeks overdue on an annual return lodgment due date, and has not requested a lodgment deferral, the status of the SMSF on Super Fund Lookup will be changed to “Regulation details removed”.
This status means APRA funds will not roll over any member benefits to the SMSF and employers will not make any SG contribution payments for members of the SMSF.
The ATO has asked SMSF trustees that do not expect to meet the due date to contact the ATO ahead of time to secure a lodgment deferral.
If you would like more information regarding SMSFs, please contact me on +61 2 9699 9171 or email email@example.com