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.
- 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