ATO has established a disqualified SMSF trustee register

ATO has introduced a disqualified trustee register to help SMSF administrators, advisers and trustees verify whether an individual is prohibited from acting as an SMSF trustee.

This register is designed as a practical compliance tool during SMSF establishment and member changes.

Key features of the ATO Disqualified Trustee Register

• The register is maintained and updated by the ATO on a quarterly basis

• It lists the name and suburb of each disqualified trustee

• Disqualifications before 2012 are not included

• Any name changes after disqualification are not reflected

• Bankrupt individuals are excluded from the register

• It does not include disqualified company directors recorded by ASIC

• The register is provided as a downloadable Excel spreadsheet

Before setting up an SMSF, professionals and trustees should always check the ATO Disqualified Trustee Register to confirm that proposed trustees are eligible. The same check should also be performed when admitting a new member or appointing a new trustee. SMSF auditors are also required to review the ATO Disqualified Trustee Register as part of the compliance audit for an SMSF.

The register can be downloaded from this link: Disqualified Trustees Register