From the 1st October 2021, all rollovers to or from a SMSF will need to be processed via Superstream. To process a rollover through Superstream, SMSFs need:
- an electronic service address (ESA) that supports Superstream rollover services. wrkrSMSF is fully Superstream compliant for both contributions and rollovers as per the ATO website.
- a complying or registered Australian business number (ABN). If your SMSF does not have an ABN, one can be obtained through the Australian Business Register. An ABN is mandatory for a SMSF to receive contributions through Superstream or to rollover superannuation to or from your SMSF.
- to ensure SMSF details are up to date with the ATO, including your SMSF's bank account. This bank account needs to be unique to your SMSF - it cannot be an accountant's bank account for example.
- member details for the SMSF member/s in question that the rollover is being processed for.
Without these details, delays may occur so it is important that all relevant details are obtained prior to initiating a rollover.