This guide has been prepared for agents/ advisers/ accountants.
This guide assumes a Roll In Request has been intitated. If this has not occurred, please see the following guide: Roll In Request.
Once a Roll in Request has been processed, the participating fund has 3 business days to action the request and subsequently respond.
- If there is a problem with the request, an Initiation Error will be received.
- If the request is valid and accepted, a Roll In Request will be received along with payment.
A response to either an Initiation Error or a Roll In Request needs to be processed on behalf of the SMSF within 3 business days.
To respond, click on the row with the response received:
Details of the response are displayed. All details of the transaction should be confirmed prior to responding. Clicking on the name of the member will display member details. Confirmation with the SMSF that the transaction has been received will need to occur.
If all details are correct and payment has been received, click Confirm payment received.
If any details are incorrect or payment has not been received, click Send error to specify what the error is as well as any refund details (if applicable).
Successful Roll In:
If the rollover is successful and Confirm payment received has been clicked, the status of the member will update to Payment received.
The status of the rollover on the Rollovers screen will also update to Roll in complete. This means that the rollover is complete and no further action is required.
Sending Error:
If there is an error, click Send error and then + Add reason.
The reason for the error response can now be entered. The error requires:
- the member in question
- the type of error as the basis for the rejection
- refund details (if applicable)
Once completed, click Add reason to submit the response. The error is added to the table. If multiple errors are required, please click +Add reason to add any additional responses. Once all errors are added, click Send error.
Once the error response has been submitted, a confirmation screen will be displayed. If a refund needs to occur, the confirmation page will also contain the refund amount and bank account details which the refund needs to be paid to.
Please ensure to include the Payment Reference Number (PRN) to avoid delays in processing.
On the Rollovers screen for this SMSF, the transaction status has been updated to Roll in error to reflect the error response processed.