A member can rollover or transfer their superannuation benefits to another complying fund, even though they may not satisfy a ‘condition of release’. This step-by-step guide will help ensure that a rollover of a member’s entire superannuation balance from an APRA-regulated superannuation fund to an SMSF satisfies the superannuation and tax laws. Note, although this guide deals with members rolling over their entire balance of their superannuation savings from an APRA-regulated fund to an SMSF, it equally applies to a partial rollover to an SMSF.

DISCLAIMER: This guide does not seek to provide personal advice specific to your needs, it is intended only as a guide for illustrative purposes only. We encourage you to seek advice from an SMSF Specialist Advisor.

WARNING – Tax transfers from foreign superannuation funds

This guide does not deal with transfers from foreign superannuation funds. We recommend that you obtain advice from an SMSF Specialist Advisor if a member is considering transferring superannuation to Australia.

On a separate note, New Zealanders moving to Australia should note that a KiwiSaver amount cannot be rolled into an SMSF. KiwiSaver amounts relate to retirement savings transferred from a KiwiSaver scheme, accrued by New Zealand residents who are planning to move permanently or indefinitely to Australia.