New Process for New SMSFs

Newly registered SMSFs will soon be identified on the Super Lookup website as “registered status not determined” rather than “complying”.

Once the first annual return for the SMSF is lodged and the ATO issues a notice of compliance for the SMSF, the status of the SMSF on the Super Lookup website will change from “registered status not determined” to “complying”.

Previously, newly registered SMSFs were identified on the Super Lookup website with the status “complying”.

The status of “registered” will also apply to all SMSFs which have not, to date, received a compliance notice (whether a notice of compliance or non-compliance).

If a newly registered SMSF receives a notice of non-compliance, the status of the SMSF on Super Lookup will be shown as “non-complying”.

A fund’s entry on the Super Lookup website will now take up to 7 days – to permit the ATO to try and identify sham SMSFs.

However, the issue of the ABN for the newly registered SMSF will still be issued in accordance with current turnaround times.