Checklist – Establishing an SMSF

Step Description Completed?

Professional help

Assess whether you need assistance establishing your SMSF

  • Accountant
  • Financial planner
  • Lawyer
  • SMSF Auditor
  • Fund administrator
  • Actuary

Membership

Have you decided on the fund members?

  • Eligibility
  • Relationship breakdown
  • Residency of the fund members
  • Trustee responsibilities

Trustee structure

Choose either individual trustees or a corporate trustee

Create the structure 

Create the trust deed for your fund

Appoint the trustees

Appoint the trustees for your SMSF. Establish a corporate trustee, if required.

Register your SMSF

Register your fund at the Australian Business Register within 60 days. Also consider:

  • Elect for your fund to be registered
  • TFN
  • Consider GST registration
  • Consider PAYG withholding registration

Bank account

Open a bank account for the fund

SuperStream

Ensure your fund is SuperStream ready, if required

Other obligations

Complete your other obligations

  • Investment strategy
  • Exit strategy
  • Appoint an SMSF auditor