Exit of a member from SMSF - transfer of entire benefit
Product type: Standard template | no legal review or advice
Price: $88.00
This is a template document. It will have to be modified for the particular requirements of each superannuation fund, and the checklist of actions provided in this document set must also be carried out.
This template is only appropriate for the situation where a person is transferring his or her entire interest in the superannuation fund to another superannuation fund (or other similar entity) and the person will cease to be a member of the superannuation fund.
The Exiting Member must complete a Transfer Request (ATO Form NAT 75359) to enable the Exiting Member to request a rollover of their whole super balance to either a Self-managed super fund (SMSF) or other eligible super entity.
Note: ATO Form NAT 75359 gives the transferring trustee the option to request further “proof of identity” information/evidence to be attached to confirm the Exiting Member’s identity (eg certified copy of driver’s license or passport or other acceptable documents).
The Trustee(s)/Director(s) must be satisfied that the nominated entity fund is a regulated super fund, approved deposit fund or retirement savings account.
For superannuation funds governed by non-SUPERCentral or non-Townsends Business & Corporate Lawyers governing rules, please review the applicable trust deed and governing rules to determine if the template is suitable for the Superannuation Fund.
Important note: Exiting the superannuation fund means any insurance cover taken out by the Trustee(s)/Director(s) in respect of the Exiting Member will cease. The Exiting Member must also advise his or her employer to pay contributions to another fund.
© This document set provides a single use licence for one member - please submit a new set of instructions for an additional member.
For assistance please call the SUPERCentral Help Desk on 02 8296 6266 or make an enquiry.