SMSFs will go from ‘Registered – status not determined’ to ‘complying’ on Super Fund Lookup quicker in a change announced by the ATO.
Super Fund Lookup can be used to check the complying status of SMSFs, including for contributions or rollovers.
Currently a new SMSF is shown as ‘Registered – status not determined’ until the first SMSF Annual Return was lodged, after which the status became ‘Complying’.
The ATO has announced that SMSFs will be shown as ‘Complying’ on Super Fund Lookup (SFLU) sooner.
“Several days after registration, the fund will appear on SFLU as ‘Registered – status not determined’. A few days later, the notice of compliance will issue and change the fund’s status to ‘Complying’,” says the ATO.
“The shorter timeframe eliminates confusion about the status of the fund or its ability to accept employer super guarantee contributions or rollovers from another fund.”
The change will also apply to SMSFs currently with a stutus of ‘Registered – status not determined’
The ATO says the change will start from “early” March 2019.