Contribution - refund breach of SIS Reg 7.04

This resolution applies only to contributions made by or on behalf of a Member:

(a) where the contribution has been received in circumstances which breach SIS Reg 7.04(1), (1A) or (2); and

(b) the trustee is required to refund the contribution by reason of SIS Reg 7.04(4).

In broad terms, the trustee cannot accept a member or employer contribution after the member has attained age 75

However, a trustee can accept a member contribution or an employer contribution without breaching SIS Reg 7.04(1), (1A) or (2) if the contribution is received by the trustee within 28 days of the end of the month in which the member attains age 75.

The age 75 restriction does not apply to Downsizer Contributions (which can be made after the relevant member has attained age 75) and also does not apply to mandated employer contributions (ie employer contributions made to satisfy super guarantee requirements or which are required to be made by an industrial award or certified industrial agreement applying to the member which was made on or after 1 July 1986 by an industrial authority.

This resolution is not suitable if the points listed in 1(a)-(b) are not met.  It is also not appropriate for:

(a) rollovers, transfers (as these payments are not treated as being contributions for the purposes of SIS Reg 7.04);

(b) Downsizer Contributions or mandated employer contributions (as these contributions are an exception to the age 75 acceptance rule.

This resolution can be used by both corporate and individual trustees.

All trustees/directors must sign the resolution.

After the resolution is signed the resolution must be kept as part of the fund’s records.

For further information on contributions, see the Contributions Information Sheet

Please note:  the online order form provides a completed set of populated documents for one member only.   If you would like to make an order for a second member please submit another set of instructions.