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    Trustee reporting obligations checklist

    By admin • 8 November 2018 • Super

    Trustees must comply with reporting obligations to avoid penalties from the ATO.

    The following trustee reporting checklist to make sure you are stress-free at tax-time.

    Trustees must:

    • Value the funds’ assets at their market value at 30 June
    • Pay any minimum annual income stream payments required under super laws
    • Get an actuarial certificate if required
    • Prepare the fund’s end of year financial accounts and statements
    • Appoint and approve a SMSF auditor not more than 45 days before the SMSF annual return is due
    • Lodge your SMSF annual return by the due date
    • Lodge your transfer balance account reports if required
    • Review the fund’s investment strategy and document the review
    • Maintain all the fund’s records as required under super law
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