Members rolling over their superannuation to your SMSF do not automatically change the fund to which their employer contributes superannuation. We recommend encouraging members to check with their employer before rolling over to ensure that superannuation contributions will be made to the SMSF (and not paid elsewhere).
TIP – Superannuation choice forms
If an employer offers superannuation choice, a member can use the ‘Superannuation (super) standard choice form’ (NAT 13080) to advise the employer of the SMSF’s details. An employer has two months after the choice form is returned to action the request.
It is a good idea for member’s to wait until an employer has actioned their choice form before rolling superannuation over to the SMSF. This reduces the risk of losing additional fees and charges should the need arise to rollover these contributions (i.e., this would require two rollovers – the initial rollover and the subsequent rollover of contributions). More information regarding the Superannuation choice rules is available here.
The choice form will also ask for SuperStream information, such as an electronic service address, so you will need to know whether or not your fund needs to be SuperStream ready – refer here.