Trustee reporting obligations checklist

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