superchoice_obligations

Asicgovau a statement provided by or on behalf of the

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Unformatted text preview: annuation fund? (QFS No 156). This is available from www.asic.gov.au ■ a statement, provided by or on behalf of the trustee of the fund, that the fund is a resident regulated fund and is able to accept contributions from the employer ■ the method of payment the employer can use to make the superannuation contributions to the fund ■ the superannuation product identification number (if any), and ■ the unique identifier or number (if any) the employer uses to refer to the employee (such as a payroll number). 8 ■ CHOICE OF SUPERANNUATION FUND If an employee’s chosen fund is a self managed show that it is a regulated superannuation fund. If the fund SUPERANNUATION FUNDS AND TRUSTEES’ OBLIGATIONS is less than two years old, this evidence should be the Tax The obligations superannuation funds and their trustees Office notice of registration called Advice about regulation must fulfil under choice of superannuation fund are listed of your self managed fund. If the fund is more than two in this section. However, these obligations are explained in superannuation fund, evidence must also be provided to years old, this evidence should be the Tax Office letter of more detail on ASIC’s website www.asic.gov.au compliance called Notice of complying fund status – self managed superannuation fund. If an employee does not provide all the information ADVISE EMPLOYEES IF THEIR EMPLOYER CAN MAKE CONTRIBUTIONS TO THE FUND required, their employer can continue to make If requested, a trustee of a superannuation fund that contributions to the employer fund. wishes to accept new choice of superannaution fund An employee should keep a copy of the information they members should provide a written statement to an give to their employer and the date the information was employee that their fund is a resident regulated fund provided. The Tax Office may contact the employee to and can accept contributions from the employer for the verify that all the required information was provided for a employee. choice to take effect. MUST NOT TAKE MONEY OUT OF THEIR SUPERANNUATION FUND EARLY GIVE EMPLOYEES INFORMATION TO COMPLETE THE STANDARD CHOICE FORM If the superannuation fund is able to accept contributions Employees must not use a self managed superannuation from the employer on behalf of an employee, trustees fund or other scheme to obtain improper early access should provide t...
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This note was uploaded on 03/25/2014 for the course FOBE 302 taught by Professor X during the One '13 term at Macquarie.

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