ATO Issues New ATO ID on death benefits

A new Interpretative Decision (ID 2015/23) has been issued dealing with death benefits.  Essentially the ID confirms that if the death benefits are to be paid as a lump sum they must actually be paid to the recipient.  Crediting the lump sum to the super account of the recipient within the paying fund by journal entry is insufficient.

This new ID replaces two earlier IDs (2015/2 and 2015/3) which have been withdrawn.