Before you start
In an SMSF the trustees are legally responsible for every decision the fund makes. Whether that suits you is worth talking through with a licensed financial adviser. Once you've decided, we take care of the set-up.
Choosing a trustee structure
A fund can have up to six members, and every member has to be a trustee or a director of the trustee company. We'll walk you through which structure fits.
Individual trustees
Each member is a trustee. Cheaper and quicker to start. A single-member fund needs a second individual trustee.
A corporate trustee
A company acts as trustee, with each member a director. It costs more up front, but changing members and holding assets is simpler, and a single-member fund can run with one director.
Setting up, in order
- The trust deedWe prepare the fund's trust deed, its rule book, and the trustee company if you choose one.
- Trustee declarationsEach new trustee or director signs the ATO trustee declaration within 21 days of taking on the role.
- Registering with the ATOWe register the fund for an ABN and TFN and elect for it to be regulated, which has to happen within 60 days of setting it up.
- A bank account for the fundYou open an account in the fund's name, kept completely separate from your own money.
- An electronic service addressWe set up the fund's ESA so it can receive employer contributions and rollovers through SuperStream.
- An investment strategyThe law requires every fund to have one in writing, and the auditor checks it each year. We help you get it documented.
- Rolling in your superOnce the fund is ready, your existing super can be rolled in and you can start investing.